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Lagos enlists support of nation’s insurance operators


Lagos State Government has expressed its readiness to partner the Nigerian Insurance Industry to enhance the well-being of people through protection of their lives and material assets against unforeseen loses.

The State Governor, Babajide Sanwo-Olu gave the assurance during the unveiling of Plum Insurance Brokers House in Lagos.

Sanwo-Olu, stated that the only way to improve citizens’ life expectancy, tackle the alarming rate of poverty and ameliorate the effect of disasters in the society was to embrace insurance as a risk management mechanism.

He specifically stated that the state needed the support of the insurance industry and particularly, insurance brokers in the conception of sustainable health insurance scheme, not only for the elite, but all citizens of the state.


The governor, who was epresented by the Deputy Governor of the State, Dr. Obafemi Hamzat, advised that insurance operators need to find a way to get people better informed, not just the rich and the educated people”

Nothing the unfortunate fire incident in Lagos, the governor, “you will be surprised that 80 to 90 per cent do not have insurance. We cannot build a system; neither can we build a state that is sustainable without insurance and effective risk mitigation devices”.

He adduced low life expectancy in Nigeria to poor health insurance scheme. According to him, “as a people, we know that our life expectancy is 52 years. Libya, after series of war, still has life expectancy of 78 years, so what is wrong? To me, it is lack of insurance; we do not have health insurance. And that goes for everything.

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