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Chuks Udo Okonta
Renewal of 2025 insurance covers by Ministries; Departments and Agencies (MDAs) has been clogged by non-release of allocations by the federal government.
Inspenonline gathered that MDAs which insurance covers have elapsed could not renew their policies due to non allocation and have reached out to their underwriters to hold covers pending the release of funds by the government.
Insurance brokers told this medium that aside the release of allocations, the change in leadership within the Nigerian National Petroleum Corporation (NNPC) Limited, would have contributed to the delay in the insurance policy renewal.
The brokers said they are watching and waiting to hear when the MDAs will release letter of appointments for the 2025 covers.
Some of the brokers said the delay in renewal is seriously affecting their operations, whilst calling on the government to make funds available to keep the economy afoot.
