Stakeholders in the insurance and aviation sectors have resolved to tow the path that suits the nation’s interest as they make imprint in the sectors.

Spearheading the national interest is the Minister of Aviation and Aerospace, Mr. Festus Keyamo and the Commissioner for Insurance, Mr. Olusegun Omosehin who converged in Abuja for stakeholders’ meeting.

Mr. Keyamo said the meeting was for the progress of the airline operators and the growth of the Nigerian insurance market as it was to address the challenges facing aircraft insurance, the demands of leases and financiers.

Keyamo said, “This meeting had been convened by the instance of the Vice President who actually mandated us to go and speak with all the stakeholders regarding the issue of aircraft insurance and the demands of international leases and financiers and how to balance that with our local content requirements in Nigeria.

“We have had a very robust discussion, very grateful to the leadership of the National Assembly on insurance.

“They are here, and they actually provided useful support and guidance to all of us regarding how they are also thinking, the airline operators of Nigeria, they spoke their minds, the Nigerian Insurance Association, they spoke their minds.

“I think we are beginning to understand ourselves. We have reached a resolution that there is need for further engagement on this issue. We also have reached a decision that there is need for the Nigerian Insurance Association (NIA) to further engage international resource and financiers to understand their position and their capacity.

“The capacity they have is part of the rebranding of the Nigerian image to the world, and every sector in Nigeria has a duty to rebrand and let the world understand how we are and what we are capable of; they will be traveling with us to Dublin to meet international financiers who have invited us in January.

“The distinguished members of National Assembly, host aviation and insurance will be there with us. Airline operators will be there with us. And this is a challenge for all of us, that all sectors should rebrand.

Commending the stakeholders for their contributions, he said, “The chairman of Nicon was great, immense, because he actually opened our eyes to a couple of things that we did not see before”.

It was agreed that a wider meeting of the Nigerian delegation with the international lessors and financiers would be held early next year.

In attendance were the Minister of Industry, Trade and Investment, Dr. JumokeOduwole; Chairman, Senate Committee on Banking, Insurance and Other Financial Institutions, Senator MunkhailAbiru; Chairman, House Committee on Insurance and Actuarial Matters, Hon. Ahmed Jaha; representatives of the Nigeria Civil Aviation Authority, Presidential Enabling Business Environment Council (PEBEC), Nigeria Insurers Association (NIA), Nigeria Council of Registered Insurance Brokers (NCRIB), Airline Operators of Nigeria amongst other stakeholders.

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