Buhari

President Muhammadu Buhari today pledged Federal government continues support to the insurance industry growth.
Buhari who gave the assurance while speaking virtually at the opening ceremony of the 47th African Insurance Organisation (AIO) Conference and Annual General Assembly urged  Insurance industry to take advantage of the  ongoing efforts by the Federal Government to grow non-oil sector of the economy through innovation.
He noted that the future of the insurance industry in Africa is great adding that there was need to put  mechanism  in place to enhance growth .
“There is a great future for the Insurance industry in Africa. We only need to put the right mechanism in place for it to thrive. I assure you that this administration has and will continue to support Insurance growth in Nigeria and Africa at large.
Buhari   lauded the leadership of the AIO even as commended the Nigerian Insurance industry for identifying with the government through the provision of life insurance set of packages for frontline medical and paramedical personnel .
“I commend the leadership of the AIO for the resilience, foresight and perseverance in ensuring that the African Insurance market strives to meet its expectations in the global market notwithstanding the prevailing challenges.
“COVID-19 is still a serious challenge in many countries a cross the globe. However, adequate protocols have been put in place to curb its spread and vaccination is in progress.
“We understand as a government and nation the need to frontally tackle some of the disruptions to our social, economic and health occasioned by the pandemic by putting in place sufficient measures that allow the system to function.
“I once again use this opportunity to commend the Nigerian Insurance industry for identifying with the government through the provision of life insurance set of packages for frontline medical and paramedical personnel in the course of this fight. Your support and solidarity in these times are highly appreciated.
“The pandemic has indeed changed many perspectives that have forced leaders across the globe to think hard for remedies.
“I want to assure you that we in Nigeria are doing everything humanly possible to ensure coordinated approach to the pandemic and reaching out to other African leaders on possible best options to fully revive the African economy in which I strongly believe the Insurance industry has a vital role to play,” he added.
“COVID-19 is still a serious challenge in many countries across the globe. However, adequate protocols have been put in place to curb its spread and vaccination is in progress.
President Buhari noted that the theme of the conference, “Rebuilding Africa’s Economy: An Insurance Perspective”, was apt and well thought out to respond to the reality of the moment as many governments try to devise ingenious ways to manage their economy in the aftermath of the COVID-19 pandemic.
“We received the news of the decision of the Executive Committee of the AIO granting Nigeria the hosting rights of this 47th edition of the AIO Conference with pleasure. As a country, we are confident in our ability to deliver the best conference ever in year 2020 before the outbreak of COVID-19 pandemic,’’ President Buhari affirmed.
“We are aware that the AIO’s Conference and Annual General Meeting is rotated amongst member states in order to provide a forum for exchange of information and strategies on market development while promoting regional knowledge and integration.
Ealier in her remarks, the Minister of Finance and National Planning Mrs. Zainab Ahmed said the  foresight of the founders of the AIO deserved commendation as it had fostered African integration agenda and how best to collectively address shortcomings.
The Minister urged the Insurance sector to design their products around the needs of society, especially for low income earners, noting that greater impact on development would only be possible by looking at the African peculiarity.
The President of AIO, Mrs Delphine Traore, who is also the Chief Operations Officer, Alliance Africa, said the conference was last held in Nigeria in year 2000, assuring that innovation in the sector would help in complementing government efforts in development.