The conference, scheduled to hold on July 7, 2026, at the Oriental Hotel, Victoria Island, Lagos, will focus on the theme: "Local Content & Digitisation: Building Synergy Between Oil & Gas and Insurance Sectors for Inclusive Growth." Proceedings are expected to commence at 10:00 a.m.
Organisers have announced the Managing Director/Chief Executive Officer of Universal Insurance Plc, Dr. Jeff Duru, as Chairman of the conference, while the Group Managing Director/Chief Executive Officer of Royal Exchange Plc, Mrs. Idu Okeahialam, will deliver the keynote address.
The event is expected to bring together a wide range of stakeholders, including regulators, insurance and energy industry operators, chief executives, policymakers, civil society organisations, academics, media professionals and students. Participants are expected to deliberate on emerging opportunities for collaboration between the two sectors, particularly in the areas of local content development, digital innovation and regulatory compliance.
Adding further prominence to the gathering, the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, has confirmed his attendance as Special Guest of Honour. Also expected at the event is the President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Ekeoma Ezeibe.
The conference will feature an array of respected industry experts and thought leaders. Among them are the Managing Director/CEO of Stanbic IBTC Insurance, Mr. Akinjide Orimolade; the Managing Director/CEO of Guinea Insurance Plc, Mr. Ademola Abidogun; the Managing Director/CEO of Deepshores Energy Limited, Mrs. Nneka Obi; and Professor Olajide Fadun of the Department of Insurance and Actuarial Science, University of Lagos.
Explaining the rationale behind this year's theme, the Publisher of SUPERNEWS Nigeria and convener of the conference, Ngozi Onyeakusi, said the initiative was designed to foster practical discussions on strengthening collaboration between the insurance and oil and gas sectors through technology-driven solutions.
According to her, "the whole effort was geared providing insight on how both sectors can leverage technology-driven solutions to strengthen synergy, so as to overcome challenges associated with the implementation of Sections 49 and 50 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act."
She further noted that Sections 49 and 50 of the Act require operators engaged in oil and gas activities to ensure that all insurable risks linked to their operations are underwritten by insurance companies and brokers registered in Nigeria.
The legislation also provides that any operator seeking to place an insurable risk offshore must first obtain written approval from NAICOM. Before such approval can be granted, the Commission must determine that local underwriting capacity has been fully exhausted.
Industry observers believe that while these provisions were introduced to deepen local participation and retain insurance premiums within the Nigerian economy, implementation challenges have persisted over the years.
To address some of these concerns, the Nigeria Content Development and Monitoring Board (NCDMB) and NAICOM jointly launched implementation guidelines in 2022. The framework was expected to close identified gaps in the enforcement of the Act, particularly with respect to Sections 49 and 50.
Despite these efforts, industry studies have shown that several insurance firms continued to grapple with obstacles such as inadequate capitalisation, limited underwriting capacity and other operational constraints, which affected their ability to fully participate in high-value oil and gas risks.
However, stakeholders are optimistic that recent reforms will reposition the industry for stronger growth. The enactment of the Nigeria Insurance Industry Reform Act (NIIRA) 2025, alongside the ongoing recapitalisation exercise, is widely seen as a significant step towards building stronger, more resilient and globally competitive insurance institutions.
Against this backdrop, the SUPERNEWS Conference is expected to provide a valuable platform for meaningful engagement on how policy reforms, digital innovation and effective implementation of local content guidelines can promote inclusive growth, deepen industry partnerships and unlock new opportunities for sustainable development across both sectors.
As Nigeria continues to pursue economic diversification and local capacity development, discussions from the conference are expected to contribute to shaping the future of collaboration between the nation's insurance and oil and gas industries.