NCRIB under Oguntade’s leadership: A year of strategic growth, collaboration, industry advancement
Nike Popoola
The Nigerian Council of Registered Insurance Brokers (NCRIB) has made significant strides under the leadership of its 22nd President and Chairman of the Governing Board, Prince Babatunde Oguntade.
His giant strides were highlighted during a press conference held on Thursday, in Lagos.
Oguntade, who assumed office over a year ago, recorded progress in enhancing the image of the Nigerian insurance sector through strategic engagements, industry collaborations, and notable achievements, as revealed during the conference.
One of the major highlights was the Council’s consistent efforts to strengthen relationships with influential stakeholders, including government leaders and industry executives.
Key visits included the Honourable Minister of Finance, Mr. Wale Edun; Honourable Minister of Budget and Economic Planning, Senator Abubakar Bagudu; and the Executive Governor of Osun State, Senator Ademola Adeleke.
These interactions have led to increased visibility and credibility for NCRIB, opening doors for new business opportunities and fostering a favorable environment for the sector.
Under Oguntade’s leadership, NCRIB has also focused on expanding insurance access through collaborations with housing developers and government agencies.
This was evident in the Council’s active participation in the 18th Africa International Housing Fair 2024 and the 6th and 7th NISH Affordable Housing Seminars, where efforts were made to introduce affordable insurance products tailored for the housing sector.
Furthermore, the Council has engaged with the Nigeria Film and Video Censor Board to open new insurance opportunities within the growing creative industry.
A landmark achievement for NCRIB during Oguntade’s tenure is the ongoing construction of the Council’s five-floor annex building, Olola Olabode Ogunlana House, which is expected to serve as a key operational hub and a new income-generating asset for the organization.
This project is part of a broader strategy to enhance the Council’s infrastructure and reduce its dependence on members’ subscriptions.
The NCRIB President also praised the National Insurance Commission (NAICOM) for its commitment to driving growth in the sector, particularly highlighting recent initiatives like the Police Force’s clampdown on uninsured vehicles, set to commence in February 2025.
Oguntade expressed optimism that these measures would not only increase insurance penetration but also bolster the sector’s contribution to the Nigerian economy.
With a strong focus on fostering collaborations, promoting regulatory reforms, and enhancing the sector’s image, Oguntade reiterated NCRIB’s commitment to advocating for a more robust insurance industry in Nigeria.
He called on journalists and stakeholders to continue their support in raising awareness and driving the adoption of insurance across the country.
In his closing remarks, Oguntade expressed gratitude to all NCRIB members, government partners, and the media for their continued efforts in promoting the growth of Nigeria’s insurance sector.
He assured that NCRIB will remain steadfast in its mission to unlock new business opportunities, enhance public understanding, and contribute to the nation’s economic growth.
