In a related development, the Commissioner for Insurance at the National Insurance Commission (NAICOM), Olusegun Omosehin, has presented a proposed 2026 expenditure of 25.667 billion naira with projected net revenue of 25.702 billion naira.
Omosehin disclosed this while presenting the budget of NAICOM before the Committee on Insurance and Actuarial Matters, said the Commission’s Internally Generated Revenue (IGR) is projected to rise to 34.270 billion naira in 2026, an increase of 4.348 billion naira from the 29.921 billion naira projected for 2025, representing a 14 per cent growth.
He attributed the increase to new revenue-boosting initiatives and tighter controls to curb leakages.
