Jeff Duru, Idu Okeahialam lead discussions at SUPERNEWS Annual Conference

Mercy Iheoma Ihedigbo

Managing Director and Chief Executive Officer of Universal Insurance Plc, Jeff Duru, has been named Chairman of the 2026 SUPERNEWS Annual Conference and 10th Anniversary Celebration scheduled to hold on July 7, 2026, in Lagos.

The organisers also announced that the Group Managing Director and Chief Executive Officer of Royal Exchange Plc, Mrs. Idu Okeahialam, will deliver the keynote address at the conference, which is now in its fourth edition.

The event, themed “Local Content & Digitisation: Building Synergy Between Oil & Gas and Insurance Sectors for Inclusive Growth,” will take place at the Oriental Hotel, Victoria Island, Lagos.

The conference is expected to attract key stakeholders from the insurance and oil and gas industries, including regulators, chief executives, policymakers, civil society organisations, media practitioners, academics, students, and other industry participants.

Among the dignitaries expected at the event is the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, who has confirmed his attendance as the Special Guest of Honour. Also expected is the President of the Nigerian Council of Registered Insurance Brokers (NCRIB), Mrs. Ekeoma Ezeibe.

Other notable speakers lined up for the conference include the Managing Director/CEO of Stanbic IBTC Insurance, Mr. Akinjide Orimolade; the Managing Director/CEO of Guinea Insurance Plc, Mr. Ademola Abidogun; the Managing Director/CEO of Deepshores Energy Limited, Mrs. Nneka Obi; and Professor Olajide Fadun of the Department of Insurance and Actuarial Science, University of Lagos.

Speaking on the rationale behind the conference theme, the Publisher of SUPERNEWS Nigeria and Convener of the event, Mrs. Ngozi Onyeakusi, said the gathering aims to provide practical insights into how the oil and gas and insurance sectors can leverage technology-driven solutions to deepen collaboration and address challenges affecting the implementation of local content insurance provisions.

According to her, the conference is particularly focused on the effective implementation of Sections 49 and 50 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, which mandate operators in the oil and gas sector to ensure that all insurable risks associated with their operations are covered by insurance companies and brokers registered in Nigeria.

She explained that the Act further provides that where an operator intends to place an insurable risk offshore, prior written approval must be obtained from NAICOM. Before granting such approval, the insurance regulator is required to establish that local underwriting capacity has been fully exhausted.

To strengthen compliance with these provisions, the Nigerian Content Development and Monitoring Board (NCDMB) and NAICOM jointly launched implementation guidelines in 2022 aimed at addressing identified gaps and improving adherence to the local content requirements within the insurance and oil and gas sectors.

Despite these efforts, Onyeakusi noted that insurance firms have continued to face significant challenges, including capital inadequacy and limited capacity to underwrite major oil and gas risks.
She, however, expressed optimism that the enactment of the Nigeria Insurance Industry Reform Act (NIIRA) 2025 and the ongoing recapitalisation exercise in the insurance sector would enhance the industry’s competitiveness and position local insurers to play a more prominent role in underwriting high-value risks.

According to her, the reforms are expected to produce stronger, better-capitalised, and more resilient insurance institutions capable of meeting global standards and supporting Nigeria’s economic aspirations.

She stated that the conference would therefore serve as an important platform for robust discussions on how digitisation, policy reforms, regulatory compliance, and local content implementation can drive inclusive growth, strengthen industry partnerships, and unlock new opportunities for sustainable development within the oil and gas and insurance sectors.

The 2026 edition of the SUPERNEWS Annual Conference also coincides with the organisation’s 10th anniversary celebration, marking a decade of contributions to business journalism, industry advocacy, and stakeholder engagement in Nigeria’s financial services sector.

Participants are expected to explore innovative strategies for fostering stronger collaboration between the insurance and oil and gas industries while identifying practical pathways for leveraging technology to improve efficiency, deepen local participation, and promote long-term economic growth.