Ambode Pledges Commitment to Growth of Insurance Sector


Ebere Nwoji
Lagos State Governor, Mr. Akinwunmi Ambode, on Monday, Commissioned the Corporate Head Office of Wapic Insurance plc in Lagos, with a pledge that his administration is committed to ensuring the growth of the insurance sector in Nigeria.

To achieve this, Ambode urged insurance sector operators to come up with a draft bill that will accelerate the growth of insurance business in Lagos.
The governor, stated this during the commissioning of the corporate head office of Wapic Insurance Plc, situated at 119 Awolowo Road Ikoyi,Lagos.

He said that insurance business has come to stay as one of the sectors that will transform the economy and contribute meaningfully to the growth of the GDP of Nigeria especially now that government is earnestly searching g for alternative means of foreign exchange earning.
To this effect, he said Lagos state, will early next year start implementing Health Insurance Scheme for its citizens and will partner with insurance industry operators in this regard.

Ambode noted that Wapic Insurance has been one insurance firm that has proactively partnered with his administration with insightful recommendations on key issues of governance and welfare of the citizenry, particularly in the areas of safety and security of lives and properties through insurance such as relating to building collapse, fire, accidents amongst others.

He commended the Wapic Insurance building architecture adding that the architectural psychology of the new Wapic Insurance head office was aimed at achieving optimal efficiency from staff with curtain glass walls, natural cross ventilation and greenery which are components that drive work space productivity all taken into account during the design phase.

“The Wapic Insurance Plc head office is presently one of the most efficient and green buildings within and around the Awolowo axis of Ikoyi, Lagos with a total land size of 13,85Square Meter, total build up area 3,639Square meter including usable roof area showcasing 100 percent hard and soft landscaping area on the ground floor,” he observed.

He said in developing the facility as a green building, the company has not only affirmed the forward looking orientation and values that have became its hallmark but has shown that the company is an environmentally responsible creating sustainable work spaces without compromising the health and safety of the people.

He said Lagos State Government would continue to identify with and support organisations such as Wapuc Insurance in its efforts to create the new Lagos of the administration’s dreams.

“As government, we will continue to explore ways to create an enabling environment to make your businesses thrive. We are committed to introducing new incentives for businesses in Lagos to enable them grow, support the society and take more of the youths off the streets”, he promised.

Earlier, the company’s chairman, Mr. Aigboje Aig- Imoukhuede had described the Wapic Insrance new corporate building as a sign post of transformation of both the company and the entire insurance industry.

He also said it was a response to the challenge by government to the insurance industry to stand up and take its pride of place among all arms of the financial services sector.

He informed governor Ambode that a new spirit and wind of change is blowing in the industry adding that the change is gearing towards seeing insurance sector growing bigger and performing better than the banking sector to be able to underwrite multi billion Naira and multibillion dollar businesses.

Also speaking at the event, Managing Director Wapic Insurance, Yinka Adekoya, expressed gratitude to Lagos State Government for the recognition accorded to her company especially by the governor for his personal presence at the occasion.

She said commissioning a building like Wapic Insurance in the heart of Lagos signifies the government’s commitment to the sustained development of the state.
“We want to assure his excellency that we will not relent in doing that which has endeared us to him. Wapic further pledges to continue in our efforts to contribute our own quota to the development of our great state, Lagos.