₦airaland Forum

JeebRock:
Make life better for the common people, that's when I can listen or pay attention to anything you're doing.
Mr Tinubu, Nigerians are dieing everyday from hunger and insecurity. Poverty has been weaponized

tell us what needs to be done in order to reduce hunger..

Infoguy666:
President Bola Tinubu has assented to the Nigerian Insurance Industry Reform Bill 2025, presidential spokesman Bayo Onanuga said on Tuesday, News360 Nigeria reports.

Now, the Nigerian Insurance Industry Reform Act (NIIRA) 2025, the presidency said the legislation would strengthen Nigeria’s financial sector and accelerate the nation’s march toward a $1 trillion economy.

The presidency said the Act repealed and consolidated several outdated insurance laws into a single, modern legal framework. “The new Act provides for comprehensive regulation and supervision of all insurance and reinsurance businesses operating within Nigeria,” Onanuga said.

“The NIIRA Act 2025 ushers in a new era of transparency, innovation, and global competitiveness for the insurance industry. It aligns with the Federal Government’s vision of achieving a $1 trillion economy,” he added.


A file photo of Tin Can Island Seaport, Lagos
The presidential spokesman said the Act introduced measures such as:

Stringent capital requirements to ensure the financial soundness of operators;

Enforcement of compulsory insurance policies to enhance consumer protection;

Digitisation of the insurance market to improve access and efficiency;

Zero tolerance for delays in claims settlement;

Creation of dedicated policyholder protection funds, especially in cases of insolvency; and

Expanded participation in regional insurance schemes, including the ECOWAS Brown Card System.

Onanuga said the National Insurance Commission (NAICOM) has been mandated to administer and implement the provisions of the NIIRA 2025 to unlock the industry’s full potential and significantly improve insurance penetration across the country.

The reform introduced by the new law is expected to catalyse new investments, boost consumer confidence, and position Nigeria as a leading insurance hub in Africa, the presidency stated.
https://news360ng.com/president-tinubu-signs-landmark-insurance-industry-reform-bill-into-law/

Impressive.

Now, the Nigerian Insurance Industry Reform Act (NIIRA) 2025, the presidency said the legislation would strengthen Nigeria’s financial sector and accelerate the nation’s march toward a $1 trillion economy.

otipoju:
This industry has the potential to employ millions of Nigerians.

From Claims adjusters, Public Adjusters, Mechanics, electricians, and renovation experts, Actuarial scientists and so on.

That's a vast ecosystem of opportunities right there. A lot of the North African countries and South Africa are succeeding in the same industry due to full implementation of the true potentials of the insurance space.

LegacyB:
Haters will still Hate. Don’t even think of pacifying them. They were born to 8.

They hate good news. Trying to pacify them is a waste of time.

seunmsg:
Bola Tinubu is arguably Nigeria’s best president ever. The way he’s reforming almost all sectors and repositioning the economy for massive growth is quite remarkable. His impact in almost every sector will be felt for years to come.

A full decentralization of Nigeria through the constitutional amendments is key in order to remove the crazy inneficiences which have held Nigeria down for decades.

WorldRichest:
That is the highest employer of labour in US and Europe

Insurance is big business in the United States and the EU.

Employment in the insurance industry in the USA
10 May 2023 — The American market creates 290 000 new insurance jobs every ten years.
=>https://www.atlas-mag.net/en/article/employment-in-the-insurance-industry-in-the-usa

Insure drugs legally.

BTW

If u dey smoke loud or drink beer then abuse people who take coke lol.. u need a Peter Obi 4yrs treatment

Factcheck0001:
nobody takes haters serious

Hope u can now see Mandela stepped down at the age of 80 n not 76 like u said n it was basically cos of his age n health

You said Mandela was 80 when he was elected. Don't shift the post.

Tareq1105:
Why are you deceiving people? It's just 15k.

Just 15k?!!
How much was it pre-Tinubu

Fuel is now 970 per liter, APC , na statistics we go chop,😂😁😁😁😁

Disenfranchised:
You said Mandela was 80 when he was elected. Don't shift the post.

thank God everything was documented.


I asked u hope u know it was age factor that stopped Mandela?

He has finished his first term n he was 80, so how did I say Mandela was elected at 80?

This is the screenshot for everyone to see


Thank God ooo, this guy for change story for me come dey lie on top my head

[quote author=Kingpele post=136356455][/quote]You were living a fake life before now, with a government that would rather give hand outs than make bold decisions.
Defend the naira with monies that could build schools and hospitals and give soft loans to businesses
Subdsidize petrol with money that could fund farming and agricultural endeavors, construct rural roads and provide water.

If we had continue down that path, Zimbabwe situation will be better than what we would have ended up with

Factcheck0001:
thank God everything was documented.


I asked u hope u know it was age factor that stopped Mandela?

He has finished his first term n he was 80, so how did I say Mandela was elected at 80?

This is the screenshot for everyone to see


Thank God ooo, this guy for change story for me come dey lie on top my head

For the last time.

Mandela made the promise of a single term before he was elected and he was 76 not when he was 80 year as posited by you. It was suppose to be a 5 year term but at the 4th year he already achieved his promises. It was Mbeki his deputy that was acting president while he took the back sitsit in his last year as president.

Again, don't get your info from AI. Do a proper research before you quote me.

Disenfranchised:
For the last time.

Mandela made the promise of a single term before he was elected and he was 76 not when he was 80 year as posited by you. It was suppose to be a 5 year term but at the 4th year he already achieved his promises. It was Mbeki his deputy that was acting president while he took the back sitsit in his last year as president.

Again, don't get your info from AI. Do a proper research before you quote me.

so where did I say Mandela was elected at 80?

Tareq1105:
Has electricity Power ever worked in the last 24 years?

Don't you know the address of your past leaders that spent $16b to buy darkness?

^^^


Abysmally poor response.

It is clear you are actually working against BAT and not for him.

PigTormentor:
This president is creating institutions and laws that will stand the test of time. This is how a nation is built. It takes time and sacrifices, but we are heading there.

Spot on.

mmadu4:
animal nonsense president instead of this old cargo to sign a law banning open cow grazing NATIONWIDE. to help lower insecurity , what does insurance bill do for an average Nigerian

Shebi na petty traders una be. You can't understand

WorldRichest:
That is the highest employer of labour in US and Europe

I won't contest even though I don't have all the stats.

Insurance in USA is massive. From tree removals, water remediation , mechanics, panel beaters, carpenters, doctors, nurses, pharmacist, physical therapists, adjusters, lawyers, builders,building supplies, hotels, electricians, policemen and a vast array of skilled artisans are involved in one capacity or the other in the business.

A simple and well regulated law can set things in motion and employ millions.

Na the digitization part I like pass.

I started my career in an insurance firm. We underwriters were always creating and carrying files up and down like clerks.

Even when policies are issued using digital means, we must still create physical files. It was really tiring.

seunmsg:
Bola Tinubu is arguably Nigeria’s best president ever. The way he’s reforming almost all sectors and repositioning the economy for massive growth is quite remarkable. His impact in almost every sector will be felt for years to come.

I just thank God for this president being the first time Nigeria is having an experienced A1 accountant/Auditor. He knows everything about prosperity. The good thing is that he will ensure the next president is also someone that is visionary also, that will not revert all the reforms

[quote author=Kingpele post=136356455][/quote]Those who do shady businesses are the ones complaining. Thats the truth.

Infoguy666:
https://news360ng.com/president-tinubu-signs-landmark-insurance-industry-reform-bill-into-law/

There is nothing this man have not signed.
Tinubu sign while a man called Akpabio is there to approve.

Tareq1105:
Has electricity Power ever worked in the last 24 years?

Don't you know the address of your past leaders that spent $16b to buy darkness?

Abi?
Out of the last 24 years, APC has spent 11 years. So when you talk about “your past leaders that spent $16b”, do not forget to add APC leaders in that responsibility. In 11 years of leadership, what difference has APC made with electricity?