By Nurat Uthman
The Federal Government and the National Insurance Commission (NAICOM) are currently in discussions to develop new guidelines for insuring government assets.
Secretary to the Government of the Federation, Senator George Akume, is leading this initiative and has already started talks with the Commissioner for Insurance (CFI), Olorundare Sunday Thomas.
It is expected that the new insurance strategy will be implemented by October during the National Insurance conference.
Thomas shared this information during a meeting with financial journalists at Ibom Icon Hotels and Golf Resort in Akwa Ibom State.
Thomas acknowledged that the Federal Government’s current approach to insurance is a departure from the past and a positive step forward.
The government is committed to this new direction and is working closely with the commission to establish a strategic guideline.
This guideline will serve as a blueprint for government agencies, ministries, and departments to strictly follow when purchasing insurance.
Thomas stated, “Since the new government took office, I have been in contact with the Secretary to the Government of the Federation (SGF) to develop guidelines for insuring government assets. They are taking this matter seriously.
Additionally, former Lagos State Governor, Bola Tinubu, established an insurance culture in Lagos, and all subsequent governors have paid premiums and followed his template. The same approach is now being replicated at the federal level.”
