Yemisi Izuora

The Nigeria Insurers Association, NIA, and the National Assembly are working on a strategy that will boost insurance business in Nigeria.

Speaker, House of Representatives, Femi Gbajabiamila has already expressed the readiness of the Legislature to partner the Nigerian insurance sector for improved services to Nigerians.

Gbajabiamila who spoke when he hosted the NIA, during a courtesy visit in his office in Abuja on Tuesday said the insurance sector was an important one to the nation.

He said: “The House of Representatives is always happy to collaborate with sectors, businessmen and professions such as yours.

“There’s no gainsaying the importance of insurance in any economy, in any country. Insurance is perhaps one of the most important areas in any business.

“You secure our lives and our property, so you’re very important to us. We are more than ready to always partner with you.”

Speaking on the amendment of the Insurance Act, Gbajabiamila said it was work in progress as a Bill on that has already passed first reading in the House.

“You talked about the amendment to the Insurance Act. I’m aware that it has been long coming. In this 9th Assembly, I think it has gone through first reading before it comes for second reading and then the public hearing.

“You should work with the committee so that you guys can work and agree on what should go in and what should go out of the amendment. I think that’s already in the works. We’re glad to see you. We’re open to discussing further with you.”

The chairman of the association, Ganiyu Musa, who led the delegation, had earlier told the Speaker that the insurance industry needed the support of the House to make the sector better.

While wishing the Speaker a successful tenure, the chairman said: “We share your aspirations for the country; we share your dreams for a better Nigeria; we assure you that we’ll like to collaborate with you and the House to contribute to the overall welfare of the citizens.

“The industry contributed to the fight against COVID-19. Our desire is to improve engagements. We’ve not been as present in the House as we should.

“We want a new start. We need your help. We need the help of the House. We seek appropriate legislative intervention and assistance. We need you to address some of the bottlenecks that militate against the realisation of our work.”