Building trust, expanding access, and driving growth in Nigeria’s insurance sector through comprehensive capacity building, digital transformation, and inclusive development.
A $35 million initiative to triple insurance penetration from 0.5% to 1.5% of GDP by 2028, reaching 25 million Nigerians with education and training 6,000 insurance professionals across all 36 states and FCT.
Impact & Results
Insurance Penetration Target
Nigerians Reached
Professionals Trained
MSMEs Covered
About Us
Nigeria's Insurance Gap: A $2 Trillion Opportunity
Nigeria’s insurance sector remains critically underdeveloped. With insurance penetration at just 0.5% of GDP one of the lowest in Africa millions of Nigerians lack access to essential financial protection.
Low public awareness, limited professional capacity, inadequate technology infrastructure, and regulatory challenges have created barriers that prevent individuals, businesses, and communities from accessing life-changing insurance products.
The cost is real: uninsured risks, vulnerable MSMEs, excluded women and youth, and untapped economic potential worth trillions of Naira.
ISSP exists to change this.
Seven Pillars of Transformation
ISSP is a comprehensive, multi-stakeholder program designed to address the systemic challenges facing Nigeria's insurance sector.
Our approach combines advocacy, education, capacity building, technology integration, and inclusive development to create lasting change.
Advocacy & Policy Support
Stakeholder Capacity Building
Youth Engagement & Innovation
Value Chain Strengthening & Sustainability
Public Awareness & Financial Literacy
Gender Inclusion & Women Empowerment
MSME Insurance & Market Access
Measurable Impact, Transformational Results
ISSP isn’t just about activities, it’s about outcomes. Every component is designed with clear, measurable targets that will fundamentally reshape Nigeria’s insurance landscape.
Team Members
Led by Experts. Powered by Partnership.
ISSP brings together world-class expertise in actuarial science, digital transformation, innovation, and international best practices. Our leadership team combines decades of insurance sector experience with deep knowledge of Nigeria's development landscape.
Bukola Ifemade
Project Director
30+ years of actuarial science and insurance sector growth across multiple markets. Leading overall program strategy, stakeholder coordination, and regulatory engagement.
Betty Adepoju
Project Manager — Digital Strategy, Training & Business Development CEO of Scallop Media and Technology.
Leading digital marketing, capacity building, and MSME support. Expertise in entrepreneurship training, digital transformation, and women's economic empowerment.
Advisory Board
Peter C. Braid
International Partnerships & Digital Branding CEO of Insurance Brokers Association of Canada.
Bringing global best practices and international partnership development.
Bankole Oloruntoba
Innovation & Sustainability Economist and branding specialist leading Nigeria's Climate Innovation Centre.
Expertise in climate-smart insurance and sustainable business models.
Rashidat M. Adebisi
Technology Integration & Client Services Chartered Insurer and Accountant, Chief Client Officer at AXA Mansard
Expertise in insurtech, asset management, and customer experience design.
Rashidat M. Adebisi
Technology Integration & Client Services Chartered Insurer and Accountant, Chief Client Officer at AXA Mansard
- Phone:+1 (859) 254-6589
- Email:info@example.com
Financial Accountability
- Dedicated Project Account with joint signatory mandate
- Monthly bank statements and quarterly financial reports
- Annual external audits by certified accounting firms
- Full compliance with Nigerian financial regulations
- 7-year record retention policy
Transparent. Accountable. Results-Driven.
Institutional Host: The Incorporated Trustees of the Network of Incubators and Innovators (NINE)
Project Steering Committee (PSC)
- Betty Adepoju (Project Manager, representing EMDI)
- Bankole Oloruntoba (Advisory Board Member, representing NINE)
- Peter Braid (Independent Advisory Board Member)
- Rashidat Adebisi (Independent Advisory Board Member)
The Urgency of Now
Nigeria stands at a critical juncture. With Africa's largest population, a growing middle class, and increasing climate vulnerabilities, the demand for insurance has never been greater. Yet systemic barriers continue to lock millions out of financial protection.
ISSP is that investment. This is the moment. This is the program.
The window is closing.
But the opportunity is immense.
Join the Movement
ISSP is more than a program—it’s a movement to transform Nigeria’s insurance sector and unlock economic opportunity for millions. Whether you’re an insurance professional, a regulator, a development partner, or a concerned citizen, there’s a role for you in this transformation.
For Insurance Professionals
Enroll in Training Programs Join 6,000 professionals upgrading their skills through our world-class capacity building programs.
For Partners & Donors
Support the Program Partner with ISSP to scale impact and drive sustainable transformation in Nigeria's insurance sector.
For Media & Stakeholders
Stay Informed Get the latest updates, reports, and success stories from ISSP.
For MSMEs & Entrepreneurs
Access Tailored Insurance Products Protect your business with affordable, flexible insurance designed for Nigerian entrepreneurs.
For Regulators & Policymakers
Engage with ISSP Collaborate on policy development, regulatory reforms, and enabling environment creation.
FREQUENTLY ASKED QUESTIONS
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Built on Collaboration, Driven by Impact
ISSP is a multi-stakeholder initiative designed for maximum collaboration. We work closely with:
