LASU Hosts Insurance Summit 5.0, Experts Push Industry–Academia Collaboration Under NIIRA 2025

The Lagos State University has hosted the 5th edition of its Annual Insurance Summit, bringing together industry leaders, regulators, and academics to examine the future of insurance education in Nigeria under the newly introduced Nigerian Insurance Industry Reform Act (NIIRA) 2025.

The summit, organised by the Actuarial Science and Insurance Students’ Association, was held on Friday, May 15, 2026, at the Aderemi Makanjuola Lecture Theatre, LASU Main Campus, Ojo.

With the theme “NIIRA 2025 and the Future of Insurance Education in Nigeria: Bridging Theory, Practice and Regulation,” the event provided a platform for deep engagement on regulatory reforms, professional development, and the evolving demands of the insurance sector.

The Deputy Vice-Chancellor (Academics), Professor Oseni Afisi, who represented the Vice-Chancellor, Professor Ibiyemi Olatunji-Bello, urged students to move beyond theoretical learning and embrace practical, solution-driven competencies that align with industry transformation.

He emphasized that the insurance sector is undergoing rapid change and that graduates must position themselves as problem-solvers rather than job seekers.

The summit was chaired by the Managing Director of Veritas Kapital Assurance Plc, Dr (Mrs) Adeobi Nwakuche, represented by Mr Arinze Adigwe, who encouraged students to take advantage of emerging opportunities within the insurance profession.

The Guest Lecture was delivered by the Executive Director of Coronation Life Assurance Limited, Mrs Muyibat Jimoh, who commended the initiative and stressed the importance of integrating academic training with real-world industry practice.

She noted that institutions that successfully bridge this gap will remain relevant in an increasingly competitive and technology-driven financial services environment.

The keynote address was presented by the Registrar and Chief Executive Officer of the Chartered Insurance Institute of Nigeria (CIIN), Dr (Mrs) Abimbola Tiamiyu, who highlighted the significance of NIIRA 2025 as a reform framework aimed at strengthening regulation, improving transparency, enhancing consumer protection, and aligning Nigeria’s insurance sector with global standards.

She called for stronger collaboration between universities, industry operators, and regulatory bodies to produce globally competitive graduates equipped for emerging challenges.

The summit also featured participation from the Dean of the Faculty, Professor Omotayo Oyeniyi, represented by Professor Tajudeen Olumoko, alongside senior academics, practitioners, and student leaders.

The newly appointed Director-General of the West African Insurance Institute (WAII), Professor Olufemi Abass, also attended the event, adding further institutional weight to the discussions.

Earlier engagements included a courtesy visit to the Vice-Chancellor’s office, where stakeholders discussed potential areas of collaboration between the university and professional insurance bodies.

The event was described as a strong step toward strengthening industry-academia synergy and enhancing the practical relevance of insurance education in Nigeria.