Insurance Commissioner Encourages Takaful Promoters to Harness Market Potential

The Insurance Commissioner, Olusegun Ayo Omosehin, advised Takaful promoters to leverage market potential and address challenges in developing the sector during a visit by the Takaful Advisory Council (TAC) in Abuja. With Nigeria's population of 200 million offering significant growth opportunities, the focus is on increasing awareness and participation in Takaful insurance.

The recent Nigerian Insurance Reform Act of 2025 recognizes Takaful as part of the country's insurance framework, marking a milestone in the industry's development.