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  • Business - Companies
  • Updated: May 24, 2022

Insurance Policies Will Play A Critical Role In Nigeria's Education - MD

Insurance Policies Will Play A Critical Role In Nigeria's Ed

In achieving Nigeria's Sustainable Development Goals on universal education, Olusegun Omosehin, the Managing Director, Old Mutual Nigeria, uptake of insurance policies will play a critical role.

According to a statement, he said this in commemoration of the 2022 Children’s Day celebrations in Nigeria.

The managing Director has shown concern about millions of children's inaccessibility to education across the country, and its various impact negatively on families, communities  and the nation at large, noting that the unavailability of a functional educational system for Nigerian chaildren hinders the nation’s contribution to the achievement of the United Nations Sustainable Development Goals by 2030.

“We must understand that our collective future as a nation depends largely on the quality of education available to our children.

"As the country, which UNICEF ranked the highest rate of out-of-school children in the world, coupled with a population that has rapidly increased over the last decade to an average of 10.5 million, all policymakers in the government and associated stakeholders must commit resources to strengthen our educational system.

“While there have been glimpses of improvement recently, with the increase in the allocation to education in the Nigerian budget from 5.2 percent in 2021 to 7.2 percent in 2022, there is still a long way to go to attain the global benchmark of countries spending 15-20 percent of their budgets on education.

"As such, if Nigeria is to meet its SDG commitments on education, we must gird our loins to ensure that we meet up with the global best standards on quality education for our children.”

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