Daniel
Chuks Udo Okonta
Going by the nation's over 175 million population, the Nigerian Insurance Industry deserves no accolades for occupying the second position in Africa, the Commissioner for Insurance Fola Daniel, has said.
Daniel, disclosed this in an interview with a daily newspaper, adding that the industry has no business coming second or fifth position it had been ab into and that Nigerian being the largest economy in the region, the industry should occupy number one position.
"Perhaps you may be surprised to hear that the insurance industry deserves no accolades for coming second in Africa at this point in time. Well, coming from a position of fifth to second within three years could make some people say we have made some progress but, I want to say we don’t have business coming second or fifth position where we were ab intio.
"This is because if you look at our population and our economy which is now the largest in Africa, where we rightly belong should be number one," he said.
Daniel noted that the commission, has tried to open several windows that were hitherto shut to ensure an enhancement in premium income, stressing that this had probably taken the industry from the fifth position to second in Africa and that the industry is yet to arrived its destination.
"We should be the first in Africa with a very wide margin from whoever comes second on account of our population and on account of our fast growing economy," he added.
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