The Abuja Chamber of Commerce and Industry (ACCI), through its National Policy Advocacy Centre (NPAC), has partnered with the National Insurance Commission (NAICOM) and key industry stakeholders to promote insurance adoption among Nigerian SMEs.
During a high-level webinar themed “Can SMEs Still Afford the Risk of Not Insuring Their Businesses?”, ACCI Director-General, Agabaidu Jideani, highlighted the vulnerability of SMEs to risks such as financial crises and natural disasters. He stressed the need for insurance as a crucial risk management tool.
NAICOM’s CEO, Olusegun Omosehin, represented by Aisha Bashir, noted that MSMEs are vital to Nigeria’s economy but face challenges like theft, fires, and health emergencies.
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She assured that NAICOM is committed to making insurance more accessible through microinsurance and takaful guidelines.
Experts, including Francis Nzeh of Gulf Insurance Brokers and Chidinma Gbemileke of AXA Mansard Insurance, urged SMEs to view insurance as an investment rather than an expense.
They advocated for tailored policies, stronger regulatory enforcement, and increased sensitization to enhance coverage.
The webinar emphasized that insurance is essential for business continuity, with stakeholders calling for policy reforms to support SME growth.
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