By Tony Obiechina, Abuja
The National Association of Nigerian Students (NANS) National Secretariat, the umbrella body representing over 40.1 Million Nigerian Students across universities, polytechnics, and colleges of education, has declareed total support for the transformative reforms currently reshaping Nigeria’s insurance industry.
A statement issued on Wednesday by the NANS President Comrade Akinteye Babatunde Afeez said the students body “recognizes the strategic importance of a strong, modern, and resilient insurance sector to national economic development and commends the leadership of the Federal Government under President Bola Ahmed Tinubu GCFR, for initiating bold economic reforms aimed at positioning Nigeria for sustainable growth and the realization of its $1 trillion economy aspiration”.
According to the statement “We equally commend the leadership of National Insurance Commission (NAICOM) under the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, and the Governing Board chaired by Hajia Halima Kyari, for their commitment to implementing far-reaching reforms that are restoring confidence, improving consumer protection, strengthening industry capacity, and promoting greater public trust in the insurance sector.
“Today, we speak not merely as students but as stakeholders in Nigeria’s future. We cannot remain silent while certain unpatriotic elements seek to undermine reforms that hold significant promise for economic transformation, youth empowerment, consumer protection, and national development.
” NANS joins all well-meaning Nigerians in celebrating President Bola Ahmed Tinubu GCFR’s historic assent to the Nigerian Insurance Industry Reform Act (NIIRA) on 31 July 2025, a historic legislation that modernized Nigeria’s insurance regulatory framework and replaced obsolete legal provisions with a comprehensive regime suited for a modern economy”, the statement added.
It further stated “we encourage NAICOM to intensify public awareness campaigns so that Nigerians fully understand the protections available to them under the new insurance regime”.
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