Mirian Gom 
Dr Doris Uzoka-Anite
Oluwafunbi Bello
ABUJA, Nigeria – Nigeria’s Minister of State for Finance, Dr Doris Uzoka-Anite, has urged West African insurers to develop innovative risk solutions that protect lives, livelihoods, and economies from worsening climate impacts.
Speaking in Lagos at the 2025 Education Conference of the West African Insurance Companies Association (WAICA), themed “The West African Insurer in the Face of Climate Change,” Uzoka-Anite said climate risk had become a major macroeconomic concern.
“Across West Africa, floods, droughts, and coastal erosion are destroying livelihoods and straining public finances,” she said. “Each disaster brings human tragedy and heavy fiscal burdens.”
She described insurance as “indispensable,” noting that it provides a mechanism to share and absorb shocks governments alone cannot shoulder.
The minister also highlighted the significance of Nigeria’s new Insurance Act, which strengthens insurers’ capital base, expands compulsory coverage to sectors like agriculture and infrastructure, and integrates insurance into public–private partnerships for climate resilience.
“We must treat climate change not only as an environmental issue but as a financial imperative,” Uzoka-Anite said. “No nation can confront this threat alone. Our solutions must be collective.”
She urged insurers to collaborate across borders to deepen financial inclusion and build resilience at the grassroots.
“With sound governance, strong regulation, and regional cooperation, insurance can become the cornerstone of West Africa’s sustainable development story,” she said.
About the Author
Oluwatobi Adu 
Oluwafunbi Bello 
Korede Abdullah 