Alex Otti Backs Major Insurance Drive as Industry Targets Millions

(Alex Otti. Photo Credit: www.alexotti.com)

Alex Otti, the governor of Abia State, has praised the Nigerian Council of Registered Insurance Brokers for its initiatives to raise public awareness and expand insurance coverage throughout the country.

Otti made the praise on Monday while hosting a team from the Nigerian insurance sector in his office. The visit was led by Mrs. Ekeoma Ezeibe, President of the Nigerian Council of Registered Insurance Brokers.

The governor commended the industry’s choice to interact directly with the public while acknowledging the vital role insurance plays in shielding people, companies, and assets from unanticipated risks.

He stated that close communication with the people for whom regulations are intended is necessary for effective regulation, and he was confident that this kind of interaction will increase public confidence in the insurance industry.

According to Otti, insurance is a crucial safety net for companies and individuals dealing with unforeseen difficulties because many Abians are engaged in trade, manufacturing, and other micro, small, and medium-sized businesses.

He applauded the Insurance Penetration Initiative’s impending launch in Abia State and promised to promote greater involvement from locals.

The governor expressed his happiness with the move, stating that insurance gives people confidence and assurance that help will be accessible in the event of an emergency. Additionally, he praised the insurance industry’s leadership for their proactive attitude and attempts to foster public trust.

Otti also reiterated his administration’s willingness to work with insurance industry players and promised to continue supporting programs that advance financial stability, sustainable economic growth, and inclusive development in Abia state.

Mrs. Ezeibe revealed that the Council was in Abia State for the official inauguration of the Insurance Penetration Initiative in Abia as well as the 2026 Insurance Chief Executive Officers’ Retreat.

She clarified that Abia was specifically chosen as the pilot study due to Governor Otti’s proven dedication to development and his in-depth knowledge of financial and economic matters.

Ezeibe, for her part, highlighted the administration’s accomplishments over the previous three years, pointing to increased electricity supply, considerable road infrastructure development, improved peace and security, and the revival of business activity, especially in Aba.

Speaking as well, Mr. Olusegun Ayo Omosehin, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission, praised Governor Otti’s developmental efforts and described Abia as a strategic hub in Nigeria’s industrial and economic landscape.

He emphasized the significance of insurance in promoting business continuity, financial inclusion, consumer protection, and economic stability, and he highlighted important provisions of the Nigerian Insurance Industry Reform Act 2025, such as the creation of the Insurance Policyholders Protection Fund to protect policyholders.

He described the NCRIB project as a major step toward creating a more resilient economy and assured the governor and the people of Abia State of NAICOM’s complete support for programs meant to enhance insurance awareness and adoption.

Sen. Darlington Nwokocha, Pastor Caleb Ajagba, the governor’s chief of staff, Dr. Emmanuel Meribole, the secretary to the state government, and other high-ranking officials attended the meeting.