• About
  • Advertise
  • Privacy & Policy
  • Contact
Friday, August 29, 2025
Bislad News
  • Login
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports
No Result
View All Result
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports
No Result
View All Result
Bislad News
No Result
View All Result

Nigeria Insurance Industry Reform Act 2025 : Dawn of A New Era

by Bisi Bamishe
August 5, 2025
in Insurance
NAICOM Board Approves New Operational Structure For The Commission
Share this:

By Bisi Bamishe

The National Insurance Commission (NAICOM), has expressed its profound gratitude to His Excellency, President Bola Ahmed Tinubu GCFR, for assenting to the Nigerian Insurance Industry Reform Act 2025 (NIIRA 2025). This marks a significant milestone in the history of our industry and underscores this administration’s commitment to the financial sector’s reform and economic growth.

NIIRA 2025 is a game-changer for our industry, providing a modernized framework that will enhance insurance penetration, promote economic growth, protect policyholders’ interests and attract investments into the sector. We are confident that this new law will unlock the potential of the insurance sector, enabling it to contribute more meaningfully to Nigeria’s economic development and in achieving the $1 trillion dollar economy.

We also want to thank and appreciate the visionary leadership and commitment of the National Assembly for the passage of NIIRA 2025 particularly the Chairman of the Senate Committee on Banking, Insurance and Other Financial Institutions, Distinguished Senator Mukhail Adetokunbo Abiru FCA, the sponsor of the Bill. This is a testament to your dedication and commitment to the growth and development of the insurance industry. We also express tremendous gratitude to his counterpart in the House of Representatives, Hon. Ahmed Usman Jaha, Chairman of the House of Representatives Committee on Insurance and Actuarial matters and all the members of their various committees for their dedication support and patriotism which saw the swift passage of the Act at the National Assembly.

Read Also:

SanlamAllianz, Cornerstone, emPLE, Enterprise Life, Leadway, and Lasaco Throw Weight Behind IMT 4.0

CAC Pledges Support As NAICOM Pushes For 12- Months Recapitalisation Timeline

Our appreciation further goes to the Coordinating Minister of the Economy and the Honourable Minister of Finance Mr. Wale Edun as well as the Minister of State for Finance Dr. Doris Uzoka-Anite and all other stakeholders too numerous to mention for their critical role in this monumental achievement.

We wish to extend our appreciation to our insurance industry stakeholders for this milestone after various calls for memorandum, discussions and reviews.

The new legislation marks a significant milestone in the country’s efforts to reinvigorate the insurance industry, over two decades after the enactment of the Insurance Act 2003. The Act marks a new era in the ongoing efforts to strengthen the Nigerian insurance industry, enabling it to compete favourably in the African insurance market and globally.

NAICOM is confident that the new law will serve as a catalyst for growth, innovation, and enhance market confidence in the insurance sector, unlocking its full potential and significantly driving economic development. The Nigerian Insurance Industry Reform Act 2025 (NIIRA2025) represents a transformative milestone and a true game-changer for the nation’s insurance landscape.

A Brighter Future for Nigeria’s Insurance Industry

NAICOM believes that the new law is a promising opportunity to transform the industry and will have a high positive impact on the contribution of the insurance sector to the country’s GDP and economy as a whole. With its focus on strengthening the industry’s regulatory framework, enhancing consumer protection, and promoting a more robust and effective industry, the Act is set to unlock the growth and potential of the insurance sector. As the industry looks to the future, stakeholders are optimistic about the positive impact of the Act on the economy and the lives of Nigerians.

Today we celebrate a new dawn in the insurance sector as the sector is ready for business and the Nigerian economy becomes the ultimate beneficiary. We pledge to work tirelessly to ensure the successful implementation of the NIIRA 2025, leveraging its provisions to drive growth, innovation, and excellence in the insurance industry.

Once again, we thank all our stakeholders for your unwavering support and commitment.

 

Previous Post

CORA, NLNG Honour 2025 Longlist of 11 For The Nigeria Prize For Literature

Next Post

2025 Q2 Result: Sovereign Trust Insurance Plc Records 45% In Insurance Revenue 

Bisi Bamishe

Bisi Bamishe

I am a journalist with many years of experience in the field of Insurance and Pension. In 2003, I won Nigeria Media Merit Award of the IGI's Prize For Insurance Reporter of The Year

Related Posts

SanlamAllianz, Cornerstone, emPLE, Enterprise Life, Leadway, and Lasaco Throw Weight Behind IMT 4.0
Insurance

SanlamAllianz, Cornerstone, emPLE, Enterprise Life, Leadway, and Lasaco Throw Weight Behind IMT 4.0

August 29, 2025
CAC Pledges Support As NAICOM Pushes For 12- Months Recapitalisation Timeline
Insurance

CAC Pledges Support As NAICOM Pushes For 12- Months Recapitalisation Timeline

August 27, 2025
IMT 4.0 : Kunle Ahmed Confirmed To Speak
Insurance

IMT 4.0 : Kunle Ahmed Confirmed To Speak

August 21, 2025
NAICOM Board Approves New Operational Structure For The Commission
Insurance

NAICOM, Nigeria Police Start Crackdown On Suspects Selling Fake Insurance Policies

August 20, 2025
NAICOM and SEC Collaborate On Insurance Sector Reforms
Insurance

NAICOM and SEC Collaborate On Insurance Sector Reforms

August 19, 2025
Insurers Excite Stakeholders With Innovative Products, Excellent Service Delivery To Deepen Penetration
Insurance

CII, Risk Analyst Consultants (UK) Limited Premier -3day Program ln London

August 18, 2025
Next Post
2025 Q2 Result: Sovereign Trust Insurance Plc Records 45% In Insurance Revenue 

2025 Q2 Result: Sovereign Trust Insurance Plc Records 45% In Insurance Revenue 

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Recent News

SanlamAllianz, Cornerstone, emPLE, Enterprise Life, Leadway, and Lasaco Throw Weight Behind IMT 4.0

SanlamAllianz, Cornerstone, emPLE, Enterprise Life, Leadway, and Lasaco Throw Weight Behind IMT 4.0

1 hour ago
CAC Pledges Support As NAICOM Pushes For 12- Months Recapitalisation Timeline

CAC Pledges Support As NAICOM Pushes For 12- Months Recapitalisation Timeline

2 days ago

NIA Set For 2025 WAICA Confab In Nigeria.

2 days ago
NLNG Signs GSAs With Six Suppliers To Boost Gas Supply To Bonny Plant

NLNG Signs GSAs With Six Suppliers To Boost Gas Supply To Bonny Plant

1 week ago

Bisladnews.com is an online publication of Bislad Communication Network Company. It is a news platform dedicated to providing top news.

Follow Us

Browse by Category

  • Back in the days
  • Business
  • Features
  • Insurance
  • Interview
  • News
  • Opinion
  • Paper Presentation
  • Pension
  • Photo Gallery
  • Politics
  • Sports
  • Uncategorized

Recent News

SanlamAllianz, Cornerstone, emPLE, Enterprise Life, Leadway, and Lasaco Throw Weight Behind IMT 4.0

SanlamAllianz, Cornerstone, emPLE, Enterprise Life, Leadway, and Lasaco Throw Weight Behind IMT 4.0

August 29, 2025
CAC Pledges Support As NAICOM Pushes For 12- Months Recapitalisation Timeline

CAC Pledges Support As NAICOM Pushes For 12- Months Recapitalisation Timeline

August 27, 2025
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports

©2024 - Bislad News

No Result
View All Result
  • Home
  • Politics
  • Insurance
  • Pension
  • Paper Presentation
  • Opinion
  • Back In The Days
  • News
  • Business
  • Features
  • Photo Gallery
  • Sports

©2024 - Bislad News

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In