The Nigerian Council of Registered Insurance Brokers (NCRIB) plans to an insurance brokerage marketplace in Aba to extend microinsurance services to traders and small-scale businesses.
Aba is a commercial and industrial hub in Abia State in southeastern Nigeria, around 600km from Lagos.
The plan was revealed by NCRIB President, Mrs Ekeoma Ezeibe, who underscored the critical role of insurance in promoting sustainable economic development in Nigeria.
She said that the proposed initiative is aimed at protecting vulnerable enterprises, creating jobs through enforcement and compliance, and serving as a model for expanding insurance access in the country.
She made the remarks in a speech delivered when she led a delegation of NCRIB members on a courtesy visit to Abia State Governor Alex Otti, reported the news organisation The Punch.
She stressed that infrastructure development and commercial revival must be supported by effective risk management to ensure long-term growth.
“Insurance penetration supports private sector growth, encourages tax compliance, and creates a virtuous cycle of development and stability,” she said.