Lagos State Government’s N2 billion yearly spend on insurance of assets and the life of its employees has been described as a record adoption of risk management among states in Nigeria.
Faith Ughwode, CEO of Almond Productions Limited said findings on the State’s insurance and pension’s spend indicate a growing adoption of insurance services, underscoring increasing awareness of the importance of risk management and financial protection.
Almond’s insights point to the need for continued education and improved access to insurance products to further enhance risk management and economic growth.
According to Ughwode, the Annual Almond Insurance Industry Awards and Consumers’ Nite, which is the biggest social platform of the Nigerian insurance industry is slated for November 1, 2024.
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Babajide Sanwo-Olu, the executive governor of Lagos State will be recognised for having blazed the trail when it comes to supporting insurance and pensions sectors through annual budgetary allocations for payment of premiums and pension contributions.
“It takes a visionary leader to continue and improve on existing systems, and Babajide Sanwo-Olu embodies vision and progress and we are glad to have him shine at the Awards this year, Ughwode said.
Also pencilled for the special recognition awards this year is the doyenne of the Insurance Broking Profession, 85-year-old Modupeola Dallass–Olusanya, who is still very active in mentoring young insurance professionals.
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