NAICOM Boss Launches Insurance Awareness Drive In Abia, Targets Traders, Farmers, SMEs
By Sunday Etuka
The Commissioner for Insurance and Chief Executive of the National Insurance Commission (NAICOM), Mr. Ayo Omosehin, has called for expansion of insurance awareness among everyday Nigerians.
This is even as he declared that insurance is not a luxury reserved for large corporations but a necessity for traders, artisans, farmers, and small business owners alike.
Omosehin made the declaration in Umuahia at the 2026 CEOs’ Retreat of the Nigerian Council of Registered Insurance Brokers (NCRIB) and the official unveiling of the NCRIB Insurance Awareness and Penetration Initiative in Abia State.
“Insurance is far more than a financial product,” he said. “It is protection. It is confidence. It is peace of mind. It provides structured mechanisms through which individuals, families, businesses, and government can recover unforeseen events and financial disruptions.”
Abia state was deliberately selected as the pilot for the initiative, with the Commissioner citing the state’s long-standing reputation for enterprise and manufacturing, particularly in Aba.
He argued that a state with such a strong commercial culture stood to gain enormously from deeper insurance participation.
For the people of Abia specifically, Omosehin outlined practical benefits: traders in Aba protecting their goods and shops; transport operators securing genuine motor insurance coverage; property owners safeguarding homes and investments; and farmers, artisans, and SMEs, shielding themselves from the financial consequences of fire, theft, accidents, illness and business interruption.
“When citizens are well-informed, they make better financial decisions. When businesses are adequately protected, they are more resilient in times of crisis. When risks are effectively managed, investor confidence increases, and the broader economy becomes more stable,” he said.
The Commissioner urged the initiative messaging be kept simple and community-focused, reaching markets, transport unions, religious centres, schools, and professional bodies, and communicated in local languages where necessary.
He also made a direct appeal to the Abia State Government to formalise collaboration with the insurance industry, particularly around mandatory covers such as the motor third party insurance, coverage for markets, and public infrastructure, and protection for petrol stations, hospitals, tankers, and power stations.
He further identified state-sponsored loan and poverty alleviation schemes, as potential platforms where insurance could play a safeguarding role.
