The National Insurance Commission (NAICOM) has urged insurance brokers to play a greater role in financing Nigeria’s infrastructure development while ensuring compliance with the Nigerian Insurance Industry Reform Act (NIIRA).
The Commissioner for Insurance and Chief Executive Officer of NAICOM, Olusegun Ayo Omosehin, gave the charge at the 2026 National Insurance Brokers Conference and Exhibition held at the Shehu Musa Yar’Adua Centre, Abuja.
Speaking on the theme, “Insurance: Infrastructure Financing & National Development Agenda,” Omosehin said the insurance industry had a critical role in mobilising long-term domestic capital and managing risks associated with major infrastructure projects.
He described insurance brokers as key players in the sector, noting that their expertise in risk advisory, policy placement and claims negotiation could help expand insurance coverage and protect policyholders.
Omosehin said the Nigerian Insurance Industry Reform Act had introduced measures to strengthen the sector’s regulatory framework, improve financial capacity, protect consumers and increase insurance penetration.
He warned that the law imposed stricter obligations on brokers regarding professional conduct, licensing and premium remittance, adding that NAICOM would enforce the rules to protect public confidence.
“Unlicensed activities, ethical lapses, and non-remittance of premiums carry far-reaching consequences. The Commission will strictly enforce these rules to protect consumer confidence,” he said.
The commissioner also urged brokers to embrace digital technologies to expand market access, improve service delivery and enhance customer experience.
He called for greater investment through infrastructure bonds, pooled funds and tailored risk guarantees to help bridge Nigeria’s infrastructure deficit.
Omosehin also urged members of the Nigerian Council of Registered Insurance Brokers (NCRIB) to build strategic partnerships with stakeholders in the banking, energy, manufacturing and public infrastructure sectors.
He urged participants to develop practical recommendations to strengthen the brokerage profession and support the implementation of NIIRA 2025.
Omosehin reaffirmed NAICOM’s commitment to professional development and market discipline before declaring the conference and exhibition open.
