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Chuks Udo Okonta
There is a disquiet amongst insurers and brokers as they await release of letter of appointments by the Nigerian National Petroleum Company Limited (NNPC Ltd.), which insurance covers for year 2024 will be due on April 1, 2025.
Inspenonline gathered that there is anxiety amongst insurers and brokers, who expected the NNPC Limited to have contacted the approved bidders today going by the federal government declaration of Monday, March 31 and Tuesday April 1 as public holidays.
Some operators told this medium that the non release of allocations by the federal government has clogged the 2025 insurances of most government’s Ministries Departments and Agencies (MDAs).
They noted that most MDAs are now pleading to brokers and insurers to hold covers for a month, that is extending their insurance coverage for just a month, while they await release of allocations from the 2025 national budget.
