by Kayode Adewolokan
The Director-General, Nigerian Insurers Association, Mr Sunday Thomas, has urged the Federal Government to protect the nation’s huge investments through the risk transfer mechanism of insurance.
This is contained in a statement issued in Lagos.
It said that billions of dollars were spent every year to improve transportation, power supply, ports and terminals and energy capabilities.
According to the statement, there is need to sustain infrastructure development and transformation initiatives of the nation through insurance.
It said that the Nigerian insurance industry had a key role to play in contribution to the nation’s economic growth as a risk transfer and management mechanism.
``The insurance industry is a growth driver for other sectors of the economy and a huge potential for direct and indirect labour employment.
``It is a provider of long-term capital investment needed for infrastructure projects that will help drive a competitive, healthy and robust national economy,” the NIA boss said.
“This implies that inflation has held in the single digit range for 24 consecutive months,” the NBS said.
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