Abia State Governor, Alex Otti, has officially launched and integrated the state into the Nigerian Council of Registered Insurance Brokers (NCRIB) Insurance Penetration Scheme (IPS), with Abia selected as the pilot state for the initiative. The scheme aims to deepen insurance awareness and coverage across Nigeria, particularly in underserved communities, using Abia as the starting point.
Unveiling at Insurance Retreat
The unveiling took place during the 2026 Annual Chief Executive Officers (CEOs) Retreat of stakeholders in the Nigerian insurance industry, held at the Michael Okpara Auditorium, Umuahia. NCRIB President, Mrs. Ekeoma Ezeibe, stated that the retreat was focused on addressing Nigeria's persistently low insurance penetration, especially within the informal sector, emphasizing the need for innovative and strategic interventions. She noted that the theme of the 2026 retreat, "Leading with Innovation," brought together insurance executives, regulators, and industry stakeholders to explore ways of strengthening leadership, improving collaboration, and expanding insurance adoption nationwide.
Governor Otti's Remarks
Governor Otti described the initiative as one that would help redefine the future of Nigeria's insurance industry while contributing to broader economic development. He stated that improved insurance uptake among urban and rural entrepreneurs and farmers would help businesses withstand unexpected shocks, safeguard jobs, and protect household incomes. The governor urged operators in the insurance sector to embrace technological innovation to attract more individuals, households, and businesses into the insurance ecosystem. He also commended NCRIB President Ezeibe for her decades-long contribution to the insurance profession and her leadership within the industry.
NAICOM's Support
Also speaking, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Omosehin, called for broader participation in the scheme, noting that the strength of any economy lies in the resilience of its insurance system. He praised NCRIB for selecting Abia as the pilot state, describing Aba as a major hub of industrialization and entrepreneurship, and lauded Governor Otti for creating an enabling environment for business and investment in the state.
