By Atoyebi Nike
The Minister of State for Finance, Doris Uzoka-Anite, has called for stronger cooperation among insurance companies across West Africa to tackle the growing economic risks caused by climate change.
Speaking at the opening of the 2025 West African Insurance Companies Association Education Conference in Lagos, Uzoka-Anite urged insurers to adopt joint strategies that address shared vulnerabilities.
Represented by Ali Mohammed, Director of the Home Finance Department, she said the conference theme, “The West African Insurer in the Face of Climate Change,” reflects the urgent need for regional action.
She noted that climate change has become both a financial and developmental issue, stressing that no country can handle the challenge alone. She called for shared risk-pooling, reinsurance platforms, data exchange, and capacity building through WAICA to strengthen resilience.
Uzoka-Anite highlighted the Nigerian Insurance Industry Reform Act 2025 as a step toward a stronger sector. She added that the government is advancing frameworks that combine sovereign risk insurance, regional disaster-risk pools, and public–private climate finance to ensure quick disaster response and fiscal stability.
She reaffirmed the Federal Government’s commitment to supporting the insurance industry through policy coordination and partnerships.
