Economists charge FG to allocate 2% of 2023 budget for insurance premium | The Guardian Nigeria News


For the Federal Government to rally its insurance obligation as the highest financier, there is a need to set aside two per cent for insurance premiums yearly from the non-debt expenditures to safeguard the government’s properties in the country.

This was the position of the former Director General of the Lagos Chamber of Commerce and Industry (LCCI) and Chief Executive Officer, Center For Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf, in his presentation tagged: “2023 Budget and insurance industry” at the 2022 Insurance Industry Consultative Council (IICC) workshop held in Ogun State.

Yusuf also advised the government to decentralise insurance premium payment at the Federal Ministries, Departments, and Agencies (MDAs). The economic expert stressed the need for the decentralisation of insurance premium payment at the federal level, saying insurance premium in the 2023 Ministries, Departments, and Agencies (MDAs) budgetary provisions is grossly inadequate when…

Source: Guardian Newspaper