Otti Backs Drive to Expand Insurance Access in Abia

Alex Otti has commended the Nigerian Council of Registered Insurance Brokers for its efforts to increase public awareness and deepen insurance penetration across Nigeria.

Otti gave the commendation on Monday while receiving a delegation from the Nigerian insurance industry led by the President of NCRIB, Ekeoma Ezeibe, at the Government House in Umuahia.

The governor described insurance as a critical tool for protecting individuals, businesses and investments against unforeseen risks, stressing that stronger engagement between regulators and the public would help build trust in the sector.

According to him, many residents of Abia are involved in trade, manufacturing and other small and medium scale enterprises, making insurance an important safeguard for businesses and families facing unexpected challenges.

Otti welcomed plans to launch the Insurance Penetration Initiative in Abia State and pledged to encourage wider participation among residents.

He said insurance provides confidence and reassurance that support would be available when unexpected situations arise, while also praising industry leaders for their efforts to strengthen public confidence in the sector.

The governor further reaffirmed his administration’s readiness to collaborate with stakeholders in the insurance industry and support initiatives aimed at promoting financial security, economic sustainability and inclusive growth in Abia State.

Speaking earlier, Ezeibe disclosed that the council was in Abia for the 2026 Insurance Chief Executive Officers Retreat and the formal launch of the Insurance Penetration Initiative in the state.

She explained that Abia was selected as the pilot state because of Otti’s commitment to development and his understanding of economic and financial issues.

Ezeibe also praised the administration’s achievements over the past three years, citing improvements in security, road infrastructure, electricity supply and commercial activities, especially in Aba.

She described Abia as a model for economic growth and sustainable development and formally invited the governor to the retreat and launch event.

Also speaking, the Commissioner for Insurance and Chief Executive Officer of National Insurance Commission, Olusegun Ayo Omosehin, commended Otti’s developmental strides and described Abia as a strategic hub in Nigeria’s industrial and economic landscape.

Omosehin emphasised the role of insurance in promoting business continuity, financial inclusion, consumer protection and economic stability.

He also highlighted provisions of the Nigerian Insurance Industry Reform Act 2025, including enhanced consumer protection measures and the establishment of the Insurance Policyholders Protection Fund.

The meeting was attended by the Secretary to the State Government, Emmanuel Meribole, the Chief of Staff to the Governor, Caleb Ajagba, Darlington Nwokocha and other senior government officials.