Mutual Benefits Assurance CEO Advocates Risk Management in Nigeria

Mr. Olufemi Asenuga, the Managing Director/Chief Executive Officer of Mutual Benefits Assurance Plc (NGX: MBENEFIT), stated that Nigeria must more deliberately integrate risk management and insurance into its sustainable development agenda to protect households, businesses, public institutions, and critical infrastructure against shocks. He delivered a plenary paper on behalf of Dr. Akin Ogunbiyi, the Group Chairman of Mutual Benefits, at the 19th Annual Research Conference & Fair of the University of Lagos.

The theme of the conference was “Risk Management and Insurance as Catalysts for Sustainable Development: Protecting Lives, Livelihoods and Critical Infrastructure.” Asenuga discussed how insurance can help individuals, businesses, and governments withstand financial shocks and recover from unexpected losses. He emphasized that development is about what survives, not just what is built, and described insurance as essential for national development.

He noted the alignment of his arguments with the conference's focus on food security, health, and housing, and referenced the United Nations Sustainable Development Goals that promote resilience and access to insurance.