The insurance sector must be prepared to contribute its quota towards the task to stabilise the nation’s economy, Minister of Finance and Coordinating Minister for the Economy, Wale Edun, has said.
The Minister who spoke on Tuesday at the inauguration of the Governing Board of the National Insurance Commission (NAICOM) in Abuja urged members of the Board to deploy their experience and competence to help the government realise it’s aspiration to build a $1trillion economy by 2026.
“You have been carefully selected into the Board for your track record in the past, experience and capacity which will come into play in the course of the discharge of your responsibilities on the Board.
One of the key aspects of the reform agenda of the present administration is to stabilise the economy, an important part of which entails resource mobilization by the people to grow the economy. Members of the Board must be prepared for the task ahead and work to realise their mandate,“ the Minister said.
While congratulating members of the Board for their appointments, the Minister expressed his happiness for the assurances by the Chairman of the Governing Board, on behalf of other members, not to disappoint the trust and responsibility reposed in them by the government and president Bola Ahmed Tinubu.
He reminded them of their expectations and the responsibilities ahead of them, urging them to brace up for them, to help realise the aspirations of the government for the economy.
He identified the oil and gas sector as one of the key sectors of the economy that hold some of the key elements they could tap from, like long term funds or savings and life insurance, which are capable of helping stabilise the economy.
As an international sector that is still growing, the Minister said the insurance sector has a number of Nigerian and international companies that control the foreign direct investments that the insurance sector could take advantage of to realise its mandate to contribute to the government’s aspiration to build a $1trillion economy by 2026.
Earlier, the Chairman of the Governing Board of NAICOM, Hajia Halima Kyari, on behalf of the other members of the Board, had told the Minister that they were in the Ministry to assure him that they were going to work as a team to realise the dreams and aspirations of the present administration
Hajia Kyari said members of the Board would not disappoint the President for giving them the chance to serve in that capacity, and pledged their loyalty and commitment to the administration and the mandate of the Commission,
.
