The Minister of Finance, Mrs. Kemi Adeosun, has challenged the insurance sector to mobilise long term funds as a buffer to infrastructure financing.
The Minister gave the charge in Abuja at the National Insurance Commission retreat for members of staff held in Abuja.
Represented at the retreat by the Director, Home Finance, Ministry of Finance, Alh. Kari Zakji, the minister specially called on the insurance industry to wake up to its responsibilities.
“it is the expectation of government that the Nigerian insurance industry should wake up to its responsibilities. As a potential growth area of our economy, it must accept the challenges of change. It must surmount its timidity and shape up and contribute to the turnaround of the economy. It must contribute positively to the GDP and create employments,” the minister said.
While pledging government support to make this happen, she warned the industry against corrupt practices.
Speaking to newsmen at the retreat, the Commissioner of Insurance Alh Mohammed Kari said the Commission alongside industry players is working to deepen insurance growth in Nigeria.
He said the retreat is a part of the efforts to restrategise and seek synergies to grow the industry.