The National Insurance Commission (NAICOM) and the Ministry of Youth Development have signed a Memorandum of Understanding (MoU) to train one million youths on insurance-related programmes.
NAICOM, in a statement on Friday, said the programme tagged “One Million Youths in Insurance” is in line with the project of President Bola Tinubu to create more jobs and empower the youths.
The training, which will be conducted in conjunction with the Chartered Insurance Institute of Nigeria (CIIN), is aimed at equipping the Nigerian youth with knowledge and best practices to be able to participate in insurance and boost youth entrepreneurship by offering financial protection and peace of mind.
It will also help to create employment across the 774 local government areas by providing another channel of opportunities for the youths, promoting insurance awareness on social media and other platforms, boosting the insurance industry in Nigeria with an impact across other sectors, and accelerating Nigeria’s financial inclusion mandate.
The Commissioner for Insurance, Olusegun Omosehin in his remarks, during the signing ceremony in Abuja, thanked the Minister of State for Youths, Comrade Ayodele Olawande, for his commitment towards the project and expressed his appreciation to all parties involved in the project, believing that the project will be a clear win for the youths of our dear nation.
The Minister, during his address, welcomed the Commissioner for Insurance and his team and expressed his delight for the signing of the MoU, making reference to signing a similar MOU with the Nigerian Data Protection (NDPC) to train Nigerian youths on data protection and privacy.
He went further to say that the future of Nigeria rests on the shoulders of the youths, who make up over 60% of the population.
According to him, insurance, which is critical to the economy of any growing nation like Nigeria, has been underutilised, therefore, expressed confidence that through the partnership with NAICOM, the Nigerian youths will be sensitised to know the importance of insurance, foster entrepreneurship, and create employment opportunities across all 774 local government areas of the country.
The high point of the event was the official signing of the MOU by the Minister of State for Youth Development, the Commissioner for Insurance, and the Chartered Insurance Institute of Nigeria.
