The National Insurance Commission (NAICOM) is set to achieve faster regulatory approvals and improved service delivery through a strengthened partnership with the Presidential Enabling Business Environment Council (PEBEC).
The collaboration is being implemented under the Business Environment Enhancement Program Accelerator (BEEPA), a 90-day reform initiative running from January 26 to April 26. The program brings together selected ministries, departments, and agencies to drive measurable, client-focused improvements in regulatory processes.
Through this initiative, NAICOM aims to streamline licensing and product approvals, reduce bureaucratic delays, and improve transparency in compliance procedures. These reforms are also expected to reinforce investor confidence, support ongoing recapitalization in the insurance industry, and promote broader market growth.
Leading the PEBEC delegation, Aimeya Okpebholo explained that BEEPA is designed to strengthen coordination among government agencies, clarify institutional responsibilities, and ensure practical improvements at service delivery points rather than just policy-level changes.
NAICOM’s Commissioner for Insurance, Olusegun Omosehin, reaffirmed the commission’s commitment to regulatory efficiency and excellence. He noted that the commission’s current reform efforts align closely with BEEPA’s objectives, emphasizing that a more responsive regulatory framework will enable insurance operators to better protect policyholders and contribute more effectively to economic stability.
