FG decries decline in budgetary allocation for insuring public assets


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Chuks Udo Okonta

The Federal Government has decried the decline in budgetary allocation for insuring public assets.

It also seek the decentralisation of insurance premium amongst the Ministries, Departments and Agencies (MDAs).

The Permanent Secretary in the General Services Office (GSO), Dr. Maurice Mbaeri, said this yesterday in Abuja when the governing board of the National Insurance Commission (NAICOM) visited Secretary to the Government of the Federation (SGF), Boss Mustapha.

He urged NAICOM to “write for the decentralisation of insurance premium amongst the MDAs.”

After learning that the premium to be paid for insuring public assets was centralised in the Office of the Head of the Civil Service of the Federation (HoS), Dr. Mbaeri said: “There is no way the HoS alone can cover insurance premium for all the MDAs.”

Dr. Maurice Mbaeri, who represented the SGF at the visit, noted that the Federal Government would issue a circular ordering all Ministries, Departments and Agencies to insure all government assets.

He urged the NAICOM team to come up with a draft document of what they want the circular to contain in order to guide the Office of the SGF to properly articulate the circular.

“Send a draft copy of the circular to the Office of the SGF. After a review, the circular will be released to the MDAs,” he said.

He also told the NAICOM team that “the draft circular should reflect what you want: If it meets the SGF’s expectations, it will be issued.

The Chairman of NAICOM’s Governing Board, Dr. Abubarkar Sani, urged the SGF to support the commission in executing a compulsory insurance scheme for all MDAs.

He said the commission was interested in seeing all government assets insured, adding: “We want the SGF to issue a circular or letter to all MDAs on the necessity of compulsory insurance.”


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