Nigeria has yet to take full advantage of the insurance sector, Ogun State Governor, Senator Ibikunle Amosun, said Wednesday.

“We need to beef up the contribution of the insurance sector to the nation’s economy. We have not taken full advantage of the insurance sector in Nigeria,” he said.

Amosun stated this when the top management of the National Insurance Commission (NAICOM) paid him a courtesy visit at his Oke-Mosan, Abeokuta office.

The Ogun State Governor added: “Nigeria is not bereft of ideas. The problem is that of implementation. For instance, we need to stop fake insurance policies in circulation. It will be in the best interest of the nation. NAICOM needs to enforce the laws appropriately.”

Speaking earlier, Commissioner for Insurance, NAICOM, Mohammed Kari, pleaded for support and collaboration from state governments across the federation in ensuring compliance and enforcement of the provisions of compulsory insurance policies.

“State governments can collaborate with NAICOM to enforce compliance with at least the compulsory insurance policies and also make some income in the process,” Kari said.

He added that “this will go a long way in helping to bring back the insurance culture and also protect members of the public from damages and losses arising from the activities of, for instance, some reckless landlords, property developers or motorists.”

The National Insurance Commissioner also seized the occasion to inform the governor about the plan of NAICOM to hold a retreat with media practitioners in Abeokuta till March 19.

He said journalists from 21 media organisations have been invited for the retreat aimed at sensitising the media practitioners and disabusing their minds on certain wrongly held notions about the insurance practice in Nigeria.

Responding, the Ogun State Governor welcomed the NAICOM team to Abeokuta and urged members of the team to seize the opportunity of the retreat to visit different parts of Ogun State in order to fully appreciate the spread of developmental projects put in place by his administration.

Governor Amosun added that, “We are ready to complement your efforts in the area of enforcement. It is more in our interest to collaborate with you, we will be the better for it.”

•Photo shows Ogun State Governor, Senator Ibikunle Amosun, receiving a gift from the National Commissioner for Insurance, Mohammed Kari, when the top management team of NAICOM visited the Governor at his Oke-Mosan, Abeokuta office, on Wednesday.