The President spoke during his conferment ceremony as the
Grand Patron of the Chartered Insurance Institute of Nigeria (CIIN) by the
Chairman and members of the Governing Council of the Institute, held at the
State House.
The President, who commended the leadership of the Institute
under Sir Muftau Oyegunle for bringing some sanity into the Nigerian Insurance
Industry as well as giving more visibility to the importance of the industry in
national development, counselled them to do more.
‘‘As you continue in your work of contributing to national
development, I want to urge you to further increase the number of Nigerians and
businesses that would benefit from and be benefited by the insurance industry.
‘As you are well aware, you need to dispel misconceptions
about the insurance industry presently held by a good number of Nigerians,
especially as it relates to claims and need for insurance.
‘‘As I have said on many occasions and would continue to
reiterate, it is my commitment to leave a sustainable growth and development
legacy by the end of this administration.
‘‘Furthermore, the insurance industry as a whole must
improve its efficiency and honour claims in good time,’’ he said.
According to the statement sent and endorsed by Femi Adesina
Special Adviser to the President (Media & Publicity) saying President
Buhari thanked players in the insurance industry, including the CIIN, for
supporting this government as well as the kind words in appreciating the
progress made in various areas of development.
Specifically, the President highlighted the contribution of
N500,000,000 to support the fight against the COVID-19 pandemic in its early
days in the country.
He noted that the granting of insurance cover for all
frontline health workers at concessionary premiums contributed significantly to
the globally acclaimed success of Nigeria’s National Response to the pandemic.
The President told the leadership of the Institute that he
would count on their continuous support, as he rallies ‘‘all Nigerians to join
our hands and hearts together with this administration to create the Nigeria we
want.’’
He promised to continue providing the necessary support to
the industry to ensure that the country maximises its contribution to
socio-economic growth.
‘‘Once the National Assembly has finished the process of
reviewing the Consolidated Insurance Bill 2020 and is forwarded to me, I would
speedily subject it to the necessary executive checks and sign it into law,’’
he assured his guests.
The President expressed appreciation on the conferment of
the Fellowship award as the Grand Patron of the Institute, saying that he
received it ‘‘with honour.’’
In his remarks, Oyegunle lauded the Buhari administration’s
sustained efforts to eliminate poverty in the country through laudable initiatives
such as National Social Investment Programme, the Cash Transfer scheme and
National Social Housing Programme, among others.
‘‘These programmes and many others have impacted Nigerians.
Your Excellency, the inclusion of insurance in the policy formulation of these
great initiatives will guarantee sustainability,’’ he said.