Decline of the contribution of the insurance sector in GDP

The contribution of insurance in the Gross Domestic Product (GDP) declined in 2013, revealed Fola Daniel, the Commissioner for Insurance at the National Insurance Commission (NAICOM). It decreased from 0.7% to 0.6% in 2013.

The NAICOM attributes the decrease to the recent update of the GDP, which has made of the country the first African economy.