Insurance is good for poverty alleviation – NCRIB

From left: Chairman, Nigerian Insurers Association, Tope Smart and President, Nigerian Council of Registered Insurance Brokers of Nigeria, Shola Tinubu at a forum in Lagos.

Worried that almost 87 million Nigerians are living in extreme poverty, the Nigerian
Council of Registered Insurance Brokers (NCRIB) has advocated Insurance as a veritable antidote to the spread of poverty and enhancer of grassroots development.

The President of the Council, Shola Tinubu, in a statement made available to journalists recently, expressed displeasure at the recent report by the United Nations
Sustainable Development Goal (SDG), which expressed doubts that the mission of
ending poverty in the country 2030 was doubtful.

According to him, the SDG report was a wakeup call to the Nigerian government to engage the instrumentality of Insurance, which is the transfer of risks, like other nations of the world to stem poverty growth and give room for holistic grassroots development.

Tinubu regretted the government’s attitude towards insurance, stressing that at a
time like this, one of the practical ways to tackle poverty headlong was to engage and
encourage insurance as a vehicle for risk management and wealth creation.

In order to give vent to the place of insurance in combating poverty, the Council would be rallying professionals at its 2018 National Insurance Brokers Conference and
Exhibition to address the theme: “Insurance Industry: Survive, Thrive” and Grassroots
Development and Poverty Alleviation: Insurance as an Alternative”.

The Conference which is billed to hold in Lagos on Thursday is one of the largest gathering of Insurance professionals in Nigeria and will be preceded by the Annual
General Meeting of the Council which is strictly exclusive to members of the Nigerian
Council of Registered Insurance Brokers (NCRIB).

The Managing Director, Infrastructure Bank Plc, Adekunle Oyinloye will deliver the
theme paper titled: “Insurance Industry: Survive, Thrive”, while the sub theme:
“Grassroots Development and Poverty Alleviation: Insurance Alternative”, will be
delivered by the President of National Association of Chamber of Commerce and
Industry, Mines and Agriculture (NACCIMA), Iyalode Alaba Lawson.

The Conference is open to all, as past editions had often attracted a good number of
professionals from the insurance industry, the organized private sector, government and
international delegates.

The Council is hopeful that this year’s Conference would achieve the desired intention of having penetrative insights and input from other critical sectors outside the industry for its growth and desired sustainable development.

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