Deputy President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Olufunke Adenusi, representing the Council’s President, Mrs. Ekeoma Ezeibe, delivers her goodwill message at the SUPERNEWS Local Content Conference 2026 and the company’s 10th Anniversary Celebration in Lagos.
The Nigerian Council of Registered Insurance Brokers (NCRIB) has called for accelerated digital transformation and stronger collaboration between the insurance and oil and gas sectors to strengthen local content, enhance risk management and drive inclusive economic growth.
The Deputy President of the Council, Mrs. Olufunke Adenusi, who represented the President of NCRIB, Mrs. Ekeoma Ezeibe, made the call at the SUPERNEWS Nigeria 10th Anniversary and 2026 Annual Conference in Lagos.
Speaking on the conference theme, “Local Content and Digitization: Building Synergy Between Oil and Gas and Insurance Sectors for Inclusive Growth,” Adenusi described the topic as timely and strategic, noting that effective collaboration between the two sectors remains critical to Nigeria’s economic development.
She pointed out that Sections 49 and 50 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act mandate operators in the oil and gas industry to insure all insurable risks through insurance brokers registered in Nigeria, saying the provision was designed to strengthen indigenous capacity, retain economic value within the country and build a resilient insurance ecosystem capable of supporting the energy sector.
According to her, although the industry has recorded notable progress over the years, challenges such as inadequate capital, technical capacity gaps and continued dependence on offshore insurance placements still limit the sector’s full potential.
Adenusi commended the launch of the Nigeria Insurance Industry Reform Agenda (NIIRA 2025) and the ongoing collaboration between the National Insurance Commission (NAICOM) and the Nigerian Content Development and Monitoring Board (NCDMB), describing both initiatives as critical step towards addressing the industry’s structural challenges.
She stressed the need to accelerate efforts toward building a competitive, well-capitalised and digitally enabled insurance industry capable of underwriting complex risks in Nigeria’s oil and gas sector.
The NCRIB Deputy President said insurance brokers would continue to play their role as trusted risk advisers and professional intermediaries by promoting innovation, ethical practice and technical expertise across the industry.
She maintained that digitisation has become indispensable to the future of insurance and local content development, adding that technologies such as real-time risk assessment, parametric insurance solutions, blockchain-enabled claims processing and data-driven underwriting present significant opportunities for collaboration between the insurance and energy sectors.
Adenusi further pledged the Council’s full support for initiatives aimed at strengthening partnerships between the two industries, noting that deeper collaboration would boost local content implementation, attract investments, create employment opportunities and promote sustainable economic growth.
She also congratulated SUPERNEWS Nigeria on its 10th anniversary, describing the organisation’s decade of consistent business journalism as a remarkable achievement.
On behalf of the NCRIB President, leadership and members, Adenusi expressed appreciation to the organisers for providing a platform for stakeholders to engage in constructive dialogue and develop practical solutions for advancing Nigeria’s insurance and oil and gas industries.
She expressed optimism that the conference would produce actionable recommendations and stronger partnerships capable of advancing local content objectives and supporting national development.
