News Highlights:
- Dr. Jeff Duru, MD/CEO of Universal Insurance Plc, has been appointed Chairman of SUPERNEWS Nigeria’s 10th Anniversary Conference, while Mrs. Idu Okeahialam, Group MD/CEO of Royal Exchange Plc, will deliver the keynote address.
- The conference will examine how local content policies, digitisation, and ongoing insurance sector reforms can strengthen partnerships between Nigeria’s oil and gas and insurance industries.
As preparations gather momentum for its 10th Anniversary celebration and annual conference, SUPERNEWS Nigeria has named the Managing Director/Chief Executive Officer of Universal Insurance Plc, Dr. Jeff Duru, as Chairman of the landmark event scheduled to hold on July 7, 2026.
The media organization also announced that the Group Managing Director/CEO of Royal Exchange Plc, Mrs. Idu Okeahialam, will deliver the keynote address at the conference, which is now in its fourth edition.
The conference, themed “Local Content & Digitisation: Building Synergy Between Oil & Gas and Insurance Sectors for Inclusive Growth,” will bring together stakeholders from the insurance, oil and gas, technology, and financial services sectors to explore opportunities for deeper collaboration and sustainable economic development.
The event is slated to take place at the Oriental Hotel, 3 Lekki Road, Victoria Island, Lagos, beginning at 10:00 a.m.
The event is expected to attract regulators, operators, sector chief executives, policymakers, civil society organisations, media practitioners, students, and other stakeholders.
The Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, has confirmed his participation as a Special Guest of Honour, while the President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Ekeoma Ezeibe, will equally grace the occasion.
Erudite and prominent speakers ready for the conference include the Managing Director/CEO, Stanbic IBTC Insurance, Mr Akinjide Orimolade, and the Managing Director/CEO, Guinea Insurance Plc. Mr Ademola Abidogun.
Others include the MD/CEO of Deepshores Energy Limited, Mrs Nneka Obi, and Professor Olajide Fadun of the Department of Insurance and Actuarial Science, University of Lagos.
Speaking on the rationale behind the choice of the conference theme, the Publisher of SUPERNEWS Nigeria and the convener of the epoch making event, Ngozi Onyeakusi, explained that the whole effort was geared providing insight on how both sectors can leverage technology-driven solutions to strengthen synergy, to overcome challenges associated with the implementation of Sections 49 and 50 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.
She noted that the provisions of Sections 49 and 50 of the Act mandate operators involved in oil and gas activities to ensure all insurable risks connected to their businesses are covered with insurance companies and brokers registered in Nigeria.
The Act further stipulates that where an operator seeks to place an insurable risk offshore, a written approval of the National Insurance Commission (NAICOM) must first be sought and obtained, and that NAICOM, before the issuance of the approval, must first determine that local capacity has been fully exhausted.
In a bid to smooth the implementation and compliance with the Act, the Nigeria Content Development and Monitoring Board (NCDMB) and NAICOM in 2022 launched the relevant guidelines, which were expected to address the loopholes that were identified in implementing the provisions of the Act, particularly, Sections 49 and 50
However, research has shown that insurance firms before now still faced lots of challenges, ranging from capital inadequacy, among others.
With the birth of the Nigeria Insurance Industry Reform Act (NIIRA) 2025, the insurance industry is now positioned for global competitiveness, while the ongoing recapitalisation exercise is expected to pave the way for big, strong, and reliable insurance firms.
The conference, therefore, provides a veritable platform for robust deliberation on how digitisation, policy reforms, and implementation of local content guidelines can drive inclusive growth and sustainable partnership between the oil & gas and insurance industries.
