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Nigeria: Insurance industry contributes 0.6% to gross domestic product

August 5, 2014 - 6:00am


Nigeria's National Insurance Commission has said that the Nigerian insurance industry contributed 0.6% to the nation's gross domestic product between 2012 and 2013, Punch reported.

Fola Daniel, Commissioner for Insurance, said that during the last four years, the insurance regulator has "initiated developmental policies aimed at strengthening and deepening insurance penetration" to boost the sector's "contribution to the GDP through its market development and restructuring initiative.”

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