The National Insurance Commission (NAICOM) and the Nigerian Insurers Association (NIA) have called for deeper collaboration with insurance journalists, saying a stronger partnership with the media will be crucial to expanding insurance penetration, improving public confidence and advancing ongoing reforms across Nigeria’s insurance industry.
The industry leaders made the call during the investiture of the newly elected executives of the Nigerian Association of Insurance and Pension Editors (NAIPE) in Lagos, where they described the media as an essential partner in educating the public, shaping perceptions of insurance and supporting the sector’s long-term growth.
Speaking at the ceremony, Olusegun Omosehin, the commissioner for insurance and chief executive officer of NAICOM, said the commission’s reform agenda can only achieve its intended impact if it is effectively communicated to the public.
Represented by Julius Odidi, head of NAICOM’s Lagos Office, Omosehin said sustained cooperation among regulators, operators and the media would strengthen public understanding of insurance while promoting confidence in the industry.
He noted that the commission’s current priorities, including digital transformation, risk-based supervision, financial inclusion and consumer protection, require clear and consistent public communication alongside effective regulatory implementation.
“The developmental agenda of NAICOM is anchored on reforms that strengthen regulation, deepen market penetration and enhance consumer protection. These reforms require not only technical execution but also effective communication. This is where synergy with NAIPE becomes indispensable,” he said.
Omosehin encouraged insurance journalists to go beyond routine news reporting by producing more explanatory and interpretative stories that simplify insurance policies, regulatory initiatives and industry developments for ordinary Nigerians.
According to him, both the insurance and pension industries depend heavily on public trust, making professionalism, accuracy and integrity indispensable qualities for journalists covering the sectors.
He described the relationship between NAICOM and NAIPE as one built on shared responsibility, noting that while the commission relies on the media to communicate its policies and reforms, journalists equally depend on regulators for transparency and timely access to information.
“Our partnership is founded on mutual dependence. As regulators, we rely on your editorial expertise to amplify our vision, while you rely on our openness and transparency to enrich your reportage. Together, we can build an insurance industry Nigerians can trust and rely on,” he said.
The commissioner also urged the newly inaugurated executive members of NAIPE to strengthen engagement with regulators and other industry stakeholders while sustaining efforts to educate Nigerians on the role of insurance and pensions in economic development.
Also speaking, Ebelechukwu Nwachukwu, the chairperson of the Nigerian Insurers Association, represented by Bola Odukale, the association’s director-general and chief executive officer, commended NAIPE for its contribution to increasing public awareness of insurance and influencing national conversations around financial inclusion, economic resilience and sustainable development.
She expressed confidence that the association’s new leadership would build on existing relationships between the insurance industry and the media, while reaffirming the NIA’s commitment to expanding collaboration through knowledge-sharing initiatives and stakeholder engagement.
“We remain committed to sustaining and deepening our partnership with NAIPE in ways that will further promote the value of insurance to individuals, businesses and the Nigerian economy,” Odukale said.
In her acceptance remarks, Ebere Nwoji, the newly inaugurated president of NAIPE, pledged to strengthen unity within the association and deepen quality reporting on the insurance and pension sectors.
She said her administration would continue to promote insurance and pensions as critical instruments for financial security, retirement planning and long-term economic stability.
Nwoji also challenged insurance companies and pension operators to reinforce public confidence by honouring their obligations to policyholders and contributors promptly and transparently.
She stressed that the principle of utmost good faith must remain central to insurance practice, while pension administrators should continue to ensure efficient management of retirement savings and prompt payment of benefits.
The NAIPE president further urged members of the association to intensify investigative and explanatory coverage of the ongoing insurance recapitalisation exercise, saying informed journalism will play an important role in helping Nigerians understand the reforms and their implications for the industry.
