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Proactive Risk Management key to Nigeria’s Development- NAICOM

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National Insurance Commission (NAICOM) has called for a proactive, data-driven, and forward-looking risk management approach to boost national development.

Mr. Olusegun Omosehin, Commissioner for Insurance, made the call during the Risk Managers Society of Nigeria’s (RIMSON) 40th-anniversary celebrations in Wednesday in Lagos.

The theme of the programme is “Risk Management in Nigeria: Evaluating the Impact and Relevance to National Development”.

Omosehin urged stakeholders to be committed to advancing risk management practices that align with Nigeria’s development aspirations.

He said, “As we evaluate the impact of risk management on national development, we must embrace a proactive, data-driven and forward-looking approach.

“Risk management should not be seen as a reactive measure but as a strategic tool embedded in governance, infrastructure planning, enterprise development and public policy.

“I encourage all stakeholders to deepen collaboration, share insights, and commit to advancing risk management practices that align with Nigeria’s development aspirations.

“Together, we can build a more resilient, secure and prosperous nation.”

Omosehin noted that risk management could be seen as one of the cornerstones of sustainable development.

He said that in today’s interconnected world, the ability of public and private institutions to identify, assess, and respond to risks was central to national resilience and progress.

He explained that in Nigeria, it could be observed how the lack of structured risk mitigation had hampered growth.

He said this could be seen from business disruptions to the socio-economic consequences of climate-related disasters, cyber threats and public health emergencies.

“The insurance industry, under the regulatory oversight of NAICOM, plays a pivotal role in fostering a robust risk management culture in Nigeria.

“Through risk transfer mechanisms, insurance not only provides a financial safety net but also promotes stability, investment and innovation.

“Our regulatory framework is focused on enhancing the capacity of insurers to underwrite risks while ensuring policyholders are protected.

“We are also working to expand insurance penetration, particularly among underserved communities, so that risk mitigation is inclusive and equitable.” (NAN)

Foreign News

4 killed in South Korean Navy plane crash

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A South Korean Navy patrol plane with four people on board crashed on a mountain in Pohang, a city in the south-eastern part of the country.

The Yonhap news agency reported on Thursday, citing authorities.

The crash happened at 1:50 pm (0450 GMT).

According to the report, witnesses said smoke was seen rising from the mountain.

The bodies of all four people aboard the plane have since been recovered, Yonhap reported.

The navy, in a short statement to reporters, said the crash occurred after the aircraft took off for a training exercise, but crashed due to unidentified reasons.

The navy said that it is investigating further details.

Fire workers were dispatched to the scene to extinguish the blaze.(dpa/NAN)

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NAFDAC Warns Water Producers on Compliance

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The National Agency for Food and Drug Administration and Control (NAFDAC) on Wednesday warned producers to strictly follow hygiene standards and digital registration procedures. Mr Kenneth Azikiwe, Director of NAFDAC’s FCT directorate, said the warning followed inspections that revealed expired licences among several producers.

Azikiwe also educated members of the Association of Table Water Producers (ATWAP), Mararaba-Karu branch, on the importance of compliance.
The agency highlighted regulatory timelines and advised on improving water quality across the FCT and parts of Nasarawa State, including Mararaba, Nyanya, and Karu. He noted that producers were careless with water treatment, often misusing sterilisation equipment during production.
Azikiwe cited cases where workers unplugged ultraviolet sterilisers to charge phones and turned hygiene areas into kitchens. He reaffirmed NAFDAC’s commitment to public safety and urged compliance for the benefit of all Nigerians. Azikiwe encouraged producers to use the agency’s digital platform, the NAFDAC Automated Products and Nutritional Monitoring System (NAPAMS), for easier access to services. He added that laboratory samples are now processed weekly to speed up approvals and urged strict adherence to procedures. Mrs Gloria Wilberford, Head of the Greater FCT Office in Mararaba, said NAPAMS had greatly improved after its upgrade to version 3. She noted that laboratory submissions now occur every Wednesday, cutting delays that used to last over a month. Wilberford said the agency’s aim was to support compliant businesses, not to penalise them. She added that setting up offices in Mararaba and Suleja was meant to ease administrative hurdles in satellite towns. Mr Michael Ajagbonna, Nasarawa Coordinator for the Standards Organisation of Nigeria, explained SON certifies products while NAFDAC handles their registration. He stressed on mutual respect among regulators and the need to work within legal boundaries, despite overlapping duties. ATWAP National Financial Secretary, Amb. Usman Diggi, said members struggle with digital literacy but promised to help identify non-compliant producers. “As a union, we can’t sanction violators, but we will report them to NAFDAC,” he stated. Mr John Michael, an ATWAP member, found the session informative and called for more stakeholder engagement. He said the workshop clarified registration issues and gave members the tools and contacts needed to resolve them. (NAN)

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NDA Commandant Seeks Emir of Zazzau’s Support in Training Officers

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The Commandant of the Nigerian Defence Academy (NDA), Maj.-Gen. Abdul Ibrahim, has sought for the royal blessings and support from the Emir of Zazzau, Amb. Ahmed Bamalli.Report says that Ibrahim spoke when he paid a courtesy visit to the emir at his Palace in Zaria on Wednesday.

The commandant also solicited the emir’s cooperation in fulfilling the NDA’s primary mandate of training officers for the Armed Forces of Nigeria and allied African nations.
During the visit, the commandant formally informed the emir about his new positon, following the recent re-deployment of personnel in the Nigerian Army. Ibrahim highlighted that the NDA was established over six decades ago to cater to the growing demand for officers in post-independence Nigeria.
He emphasised the importance of partnerships with traditional rulers and other stakeholders to enhance both economic development and security in the nation.The commandant invited the emir to deliver a keynote address at the upcoming ‘Leadership Seminar’ dedicated to the legacy of the famous Queen Amina of Zazzau.Ibrahim also informed the emir about the Passing Out Parade (POP) for the 72 Regular Course (RC) Cadets, scheduled for September 2025, and extended a formal invitation for him to attend as the Royal Father of the Day.The commandant also wished Bamalli a long reign, stability, and good health while reassuring him of the armed forces’ ongoing support for peace and stability in the Emirate and beyond.In response, the emir reminisced about his school days at the Government College Kaduna, reflecting on the military discipline instilled at the NDA, which also benefited the students in his college. “I recall those days; the standard of discipline in the NDA was being replicated in our college, making us the beneficiaries of good military traditions,” he stated.The emir expressed his best wishes for Ibrahim’s tenure, stating, “judging from your antecedents, the NDA is lucky to have you as Commandant.”Regarding the Leadership Seminar on Queen Amina, the emir revealed ongoing efforts at the palace to harmonise literature with unwritten facts about the legendary warrior queen, aiming to clarify conflicting accounts and present a well-rounded historical perspective.He assured his attendance at the POP of the 73 RC, reiterating his commitment to the NDA.Accompanying the NDA Commandant included Maj.- Gen. AB Mohammed, the Commandant, Depot Nigerian Army; Prof. Isa Garba, Academy’s Provost; Commodore ST Lengaya, Director of Coordination; Air Commodore SA Buhari, Director of Logistics and Col. MS Jafar, Chief Instructor, Army Wing, among othersThe visit was witnessed by the members of the Zazzau Emirate Council, District Heads, and palace staff. (NAN)

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