The Lagos State Government disclosed that it had paid more than N2 billion in insurance premiums for its over 73,000 workers in 2021.
This was disclosed by the State Commissioner for Finance, Rabiu Olowo, while briefing journalists at the Bagauda Kaltho Press Centre, Alausa, Ikeja, Lagos.
He said, “Presently, we have over 73,000 employees on our database from the ministries and all these employees are covered under the life insurance.
“This year alone, we have paid over N2 billion in insurance premium to cover life and non-life. That speaks to the importance of insurance. We also saw the benefits of engaging in insurance during this COVID-19 pandemic and the #ENDSars protest.
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“Lagos State, over the years, has continued to insure its staff with regular payment of premium to cater for them during service, and also payment of death benefits.”
Olowo noted that the importance of the state-organised Insurance Week that is scheduled to run throughout the week, starting on Tuesday, was to promote the advantage of insurance and sensitise state employees.
He said, “The task of ensuring that vehicles, buildings, electronics, computers, firefighting equipment, other assets, as well as the welfare package of the entire workforce, is the responsibility of the insurance department.
“This insurance week will explore the various advantages and benefits of insurance to the entire workforce. To this end, we have identified the need for more sensitisation and education on insurance, and how civil servants and the entire populace can key into the abundant opportunities in insurance.
“Insurance is one of the ways that we manage risk in Lagos State. It is not an issue of optionality or so. We have life and non-life insurance and that is very compulsory.
“We have enjoyed the real essence and value proposition of insurance, and the best we can do is to further our commitment to ensuring that our insurance activities are more strengthened. This is why we are doing this sensitisation and advocacy.”
