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‘Nigeria to eclipse South Africa in five years as Africa’s leading insurance market’


Commissioner for Insurance and Chief Executive of the National Insurance Commission, Mr. Fola Daniel has said that the Nigerian insurance industry has a lot of potential to become number one in Africa.

Mr. Daniel stated this recently in Ilorin the Kwara State Capital during the 2015 NAICOM Conference with insurance correspondents.

Mr. Daniel noted that Nigria’s present position in Africa as number two is a good improvement from its  fifth position  in 2007, but we do not have any reason to be in number two but number one, he added.

“Nigeria can eclipse South Africa in the next five years and I see that happening”.

Daniel assured that the present government is interested in driving the insurance business, having realised that without strong insurance industry the economy would continue to crawl.

I expect that insurance will continue to get required attention in the current administration because we have an already developed road map, implementation committee just requires government commitment, Daniel noted.


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