A stronger, more inclusive insurance sector for Nigeria.
The Insurance Sector Strengthening Program is a 36–60 month initiative to deepen trust, expand access, and build the professional capacity Nigeria's insurance industry needs to grow.
Despite being Africa's largest economy, Nigeria's insurance penetration sits at just 0.5% of GDP — against a continental average of 3.2%.
The ISSP exists to close that gap: through advocacy, awareness, capacity building and inclusive growth that reaches the women, youth and small businesses the sector has historically left behind. It is designed to respond directly to the structural barriers — limited awareness, weak product innovation, gender disparities, youth exclusion and thin MSME coverage — that have kept insurance out of reach for most Nigerians.
Led by the National Insurance Commission (NAICOM) together with government, regulators, insurers, brokers, development partners and innovators, the programme translates regulatory intent into measurable impact — coordinated action in place of isolated initiatives.
The case for action
Where Nigeria's insurance sector stands today, measured against where it needs to be.
Six pillars, one shared goal
Every intervention the programme runs sits under one of six strategic pillars.
Advocacy and Policy Support
Creating an enabling regulatory environment and strengthening collaboration among government, regulators and the insurance industry.
Awareness and Education
Building nationwide understanding of insurance, financial literacy and climate risk across all 36 states and the FCT.
Capacity Building
Training 6,000 insurance professionals, intermediaries and agents, and strengthening institutional capacity across the industry.
Gender Inclusion
Designing gender-sensitive products and increasing women's participation as customers and industry professionals, targeting 40% female participation.
Youth Engagement and Innovation
Integrating young Nigerians aged 18-35 through digital-first approaches, InsurTech innovation and youth career pathways.
MSME and Value Chain Strengthening
Developing distribution networks and affordable insurance solutions to connect 250,000 MSMEs to relevant coverage.
Join the coalition
Whether you're a regulator, insurer, donor or innovator, there's a defined role for you in strengthening Nigeria's insurance sector.