Brokers call for diversification of the nation’s economy

L-R: Managing Director, Universal Insurance Plc, Mr. Ben Ujoatuonu receiving a plaque of honour from President, Nigerian Council of Registered Insurance Brokers, Mr. Kayode Okunoren at the February Edition of NCRIB Members’ Evening, with the are NCRIB Vice President, Mrs. Bola Onigbogi (L); Executive Director, Universal Insurance, Mr. Reginald Anyanohu, (2nd right) and Mr. Fatai Adegbenro, Executive Secretary, NCRIB (right)  looks on at the event.

The National Council of Registered Insurance Brokers (NCRIB) has called for the diversification of the nation’s economy from oil, which is its major source of revenue.

The President, NCRIB, Mr. Kayode Okunoren, who stated this at the February edition of the Broker’ Evening in Yaba, Lagos, last week stressed that the mono economy has left the country helpless, considering the weakened Naira against dollar and other international currencies as well as the continuous downward slide in the price of crude oil in the international market, upstaging the budgetary anticipations of government.

Stating that the insurance industry is not insulated from these grievous indices of economic recession, he commended the initiatives and drives of the present administration in the country in combating the nation’s economic challenges headlong.

According to him, “As a critical stakeholder in the nation’s economy, it is our take that the present situation serves as a good avenue for government to begin to pay more emphasis to diversification of the nation’s economic mainstay from oil, as we have had till now.”

He proposed that there must be ” a re-tuning of the minds of Nigerians from rabid consumption of foreign goods and services at the expense of those produced locally. Also, the penchant for luxuries has to be curtailed so as to preserve the nation’s available meager foreign monetary reserve for the essentials, rather than fritter them on irrelevances.”

He added that this period calls for sacrifice on the part of all Nigerians, including the leadership, if the present crusade would achieve long lasting positive results.

“I whole heartedly align myself with the timeless wisdom that “to be successful as an individual or a nation, you must decide exactly what you want to accomplish, and then resolve to pay the price!” he stressed.

Meanwhile, insurance brokers, under the aegis of NCRIB, have joined scores of other Nigerians in sharing the grief of the Nigerian Film Industry over the demise of no fewer than four of its brightest actors and actress within the last one month.

The actors included; Mike Odiachi, Sikiru Adesina, popularly known as Arakangudu, Festus Aguebor as well as a Kano-based actress of Kannywood (Kano sub sector), Aisha Dankano.

In a release signed by the President of NCRIB, Mr. Kayode Okunoren, the council described the death of four prominent actors within a month as a colossal loss to the nation.

The council lamented that the actors who had liven up the entertainment space had departed at a time when their values were most desired in the country.

While praying for the repose of the souls of the departed, the NCRIB lamented the poor acceptance of insurance by the actors, a situation that usually leave the families in precarious financial state after the painful loss of their loved ones and bread winners.

The council advised the leadership of the film industry to synergise efforts with the insurance industry in order to arrange for suitable insurance covers capable of mitigating material or human losses in the event of the actors challenging pre-occupations.

According to the release, the council further joined other Nigerians to congratulate another popular Nollywood actor, Olumide Bakare, who was recently discharged from University College Hospital (UCH), Ibadan after suffering from heart related disease.