The Lagos State Ministry of Finance has said it paid over N2 billion as insurance premium in 2021 for both life and non-life coverings.
Commissioner for Finance, Dr. Rabiu Olowo, disclosed this on Monday while briefing newsmen on activities lined up for the maiden Lagos Insurance Week organised by the Ministry in collaboration with Consortium of Insurance Companies and Brokers.
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Olowo disclosed that over 73,000 state employees are covered under the life insurance while he encouraged Lagosians to embrace the initiative by taking the necessary insurance cover that suits them.
He explained that several incidences where the masses call on the government at all times for compensation over some natural disasters or unfortunate incidences can become a thing of the past if there are necessary insurance cover individuals, businesses and property.
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