Insurance companies are the least capitalized companies in the financial sector in Nigeria.
To remedy this situation, the minister of finance Mrs. Kemi Adeosun has announced a broad plan of recapitalization of insurers.
This initiative aims to make them stronger players in the financial landscape, able to adapt to new economic challenges and legislative requirements.
Through this project, Nigeria seeks to develop even more powerful insurance companies, with a capacity for intervention that can extend to sectors with high capital requirements, such as electrical energy and oil.
It is worth reminding that, with its 180 million inhabitants and a Gross Domestic Product (GDP) of nearly 480 billion USD, Nigeria has been attracting the major insurance companies over the past few years.
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