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Nigeria’s insurance industry is the second largest in Africa, as reported by Naij citing a Punch report.
Nigeria’s insurance industry is now the second largest in Africa from a fifth position three years ago, said Fola Daniel, the commissioner for insurance of National Insurance Commission of Nigeria. As part of the financial industry reform initiatives of the Federal Government, NAICOM had carried out several industry specific reforms that had significantly affected and positively changed the industry, leading to improvement in perception by the insuring public,” Mr. Daniel said.