Nigeria: NAICOM Moves to Enhance Insurance Contribution to GDP

The National Insurance Commission (NAICOM) is not comfortable with the fact that the contributions of the insurance industry decreased from 0.7 per cent to 0.6 per cent under the recent rebased GDP of the nation's economy which placed the country first in Africa, and 26th largest economy in the world.

Taking into consideration the contribution of the insurance industry to the recent rebased GDP, the Commissioner for Insurance, Fola Daniel, said this has placed enormous responsibility on the insurance industry, and that the development calls for more dynamic strategies to enable the industry make meaningful contribution to the GDP.

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