Nigerian Insurance Industry Reform Act (NIIRA 2025) is triggering a renaissance in the sector, reshaping market behaviour as tighter regulation, stronger capital requirements and renewed policyholder confidence drive expansion amid rising market discipline.
The overhaul aims to deepen Nigeria’s N4.4 trillion insurance market size that has long lagged regional peers, while restoring credibility after years of weak enforcement and undercapitalisation.
Early signs of consolidation, product innovation and foreign interest suggest the reforms
