Former Minister of Power and Chairman of Geometric Power Limited, Professor Barth Nnaji, has been confirmed as the Special Guest of Honour at the forthcoming SUPERNEWS Conference and 10th Anniversary celebration scheduled for July 7, 2026, in Lagos.

The conference, 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, beginning at 10:00 a.m.

The event is expected to attract regulators, industry leaders, stakeholders from the oil and gas and insurance sectors, civil society organisations, members of the media, and students.

Also expected at the conference is the Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, who has confirmed his participation. The conference will be chaired by the Managing Director/Chief Executive Officer of Universal Insurance Plc, Dr. Jeff Duru, while the Group Managing Director/CEO of Royal Exchange Plc, Mrs. Idu Okeahialam, will deliver the keynote address.

Speaking on the rationale behind the theme, Publisher of SUPERNEWS Nigeria, Ngozi Onyeakusi, said the conference aims to provide insights into how the insurance and oil and gas sectors can leverage digital technologies to strengthen collaboration and address challenges associated with implementing Sections 49 and 50 of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act.

According to her, the provisions of the Act require operators engaged in oil and gas activities to insure all insurable risks related to their businesses through insurance companies and brokers registered in Nigeria. The Act further stipulates that any operator seeking to place an insurable risk offshore must first obtain approval from the National Insurance Commission (NAICOM), which must determine that local insurance capacity has been fully exhausted before granting such approval.

To enhance compliance with these provisions, the Nigeria Content Development and Monitoring Board (NCDMB) and NAICOM introduced implementation guidelines in 2022 aimed at addressing identified gaps and improving enforcement of the Act.

Despite these efforts, insurance firms have continued to face challenges, including inadequate capitalisation and limited underwriting capacity. However, stakeholders believe the enactment of the Nigeria Insurance Industry Reform Act (NIIRA) 2025 and the ongoing recapitalisation exercise will strengthen the industry’s capacity, improve competitiveness, and position Nigerian insurance companies to play a more significant role in supporting the nation’s oil and gas sector.

The conference is expected to provide a platform for robust discussions on policy, innovation, local content development, and the role of technology in driving inclusive growth across both industries.