Governor Alex Otti of Abia State has endorsed the “One Insurance Industry” initiative of the Nigerian Council of Registered Insurance Brokers (NCRIB).

Mr Otti also pledged the state government’s support to drive insurance awareness and deepen industry growth.

The governor gave the assurance when the president of the NCRIB, Ekeoma Ezeibe, led a delegation of the council on a business visit to him in Umuahia.

In a statement on Tuesday, Mr Otti commended the council’s leadership for promoting insurance awareness in the country.

He said that Abia State would align with the initiative for the mutual benefit of the state and the insurance industry.

The governor also expressed the state government’s support for the council’s 2026 Chief Executive Officers’ Retreat, scheduled to be held in Abia State in June.

Mr Otti expressed optimism about the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

He disclosed that his administration had constituted a high-level working team to collaborate with the NCRIB in developing practical and sustainable strategies to ensure the success of the insurance awareness initiative, for which Abia State was to serve as a pilot.

The governor emphasised the need to involve young professionals in the insurance collaboration to ensure sustainability.

He made reference to the Abia Leadership Academy, which he said had trained about 1,000 youths in the state.

Earlier, Ms Ezeibe briefed the governor on the provisions of the NIIRA 2025, highlighting the role of insurance brokers and key aspects of compulsory insurance, which she said underscored the duty of care governments owe to their citizens.

She said the choice of Abia State for the pilot insurance awareness project and the forthcoming CEOs’ Retreat was strategic.

Ms Ezeibe noted that this was because of the achievements of the present administration and the need to deepen insurance penetration in the eastern part of the country to stimulate socio-economic growth.

Besides, the NCRIB president also outlined the benefits of compulsory insurance under the new law.

She said these included job creation, investment promotion, value creation, security and stability, improved access to healthcare, and enhanced consumer protection.

(NAN)