How would you rate the penetration of insurance companies in the country?
Penetration is not enough; it all depends on the state of our economy, our understanding of the economy and the philosophy of life that Nigerians have. When I talk about the state of our economy, we are not in a productive economy, we basically spend the income that we receive from oil. It becomes very difficult if people just buy and sell.
Insurance was better 30 years ago when factories were working, because when you have a factory and you know the period of pregnancy between the initial and final productions and the processes involved, it will be very difficult for you to not insure yourself, because every industrial activity creates very huge dangers, and you know that this will happen.
But if there is no incentive, and all import, imports are not structured; every woman goes to Dubai to buy clothes, it's on this basis that most of what we call a business is done, but if we are in fact, I doubt that you will plant a plant and you are making explosions, and someone says you about insurance, you will not run fast to go and insure yourself.
We also have a very bad credit system. If you want to build a house in Nigeria, you must have your money 100 percent, or you start building it gradually. In a society where a mortgage is important, neither banks nor you, the borrower, will live in a house that is not insured, because you know if this house is burned and you are still a bank, no one will tell you before you insure.
Look at our outlook on life, on the sociological aspect, you will damage my car and you go out and prostrate, but prostration can never be collected in a bag and delivered to a mechanic, but if you hold a person in charge, Nigerian sociology that you are evil and that sociology affects the rule of law.
We are never sure whether we should apply the law or not, if you apply the law or apply your right, you are wrong, so if we have this thinking, it becomes very difficult to secure the obligations.
There are things that you can not do in other countries without liability insurance because the person you are injuring has a wife and children at home, "the driver of danfo" crashes into the bridge and everyone enters the lagoon and the person swims away if you you catch him, a man brings his father and mother to bow to someone who is dead, who is the breadwinner of the family, you will say that you must accept him so that you do not look like an evil person, but in a week that the danfo driver got Another vehicle, and he earns money. If you look at these factors, they impede insurance. The last thing you think about is insurance, because the sociological infrastructure does not even support insurance.
Insurance is not really about what will happen to you, it's about two things; what can happen, and when this happens, you can return to the place where you were, so that you can begin your life. Thus, the totality of this is that we have a weak penetration into insurance.
Is the low level of penetration mainly due to our inability to enforce existing compulsory insurance laws?
I'm a private sector person, and I'm one person who likes things that develop from scratch. Laws are difficult to secure if they are from the descending, but if they are from the land, people will want the law.
I will say that the business environment is gradually changing, we are becoming more productive in agriculture and in industrial development, because the recession pushed us. Thus, the insurance is appropriate.
We get more complicated business relationships, people take money from banks, even importers and banks will not give you, not guaranteeing the physical danger of what they are financing, they are sure that if there is any physical danger for what they have funded they will return their money; so that everything moves.
Insurance also does a lot to attract attention and attract people's attention to insurance; we continue to do this, besides this, even if the government decides to comply, it does not always work if people do not want it.
Laws always work when people want to obey them, laws do not work, when you force people to obey, if people are convinced that this law is in their interest, it will be very easy to comply with, it is very easy to enforce, since only a minority will violate the law. When people do not believe in the law, most will violate it, and coercion will become purely academic, or after a while it will break, and no one will speak about it.
But at a time when people see the need, why you should live in a house, and the building collapses, and it is not insured; you save your life, your wife and your children, but you have lost your property, and the landlord says that the will of God has occurred. It should not be God's will that you should be naked, it must be paid.
Now the only thing the government can do in this respect is what the government has done to introduce the Responsibility and Responsibility of the homeowners, but Nigerians do not have the courage to ask about it, there is nothing that could be done.
How would you react to customer complaints about difficulties accessing claims?
We have, but because of the sociological factors that I mentioned earlier, people are still not tuned for insurance, and we really have many claims.
But you see the insurance document, the policy is a contract that people do not read, thereby supporting the cliche that if you want to hide anything from the blackberry, write it down. If people do not read their contracts to find out what their rights are, you can not get them to read them.
The only major legal document that an ordinary person will own is an insurance contract, other than a lease, but he will never read it. If you want to go to court, you will attract a lawyer. I tell people that there is no law in Nigeria that says that you should hire a lawyer, but you know that you are likely to lose if you do not bring a lawyer. Why then you will have an asset, and you will not attract a professional to work to submit your insurance request forward.
There are insurance brokers, and you do not even need to pay them how you pay lawyers; the service is free for consumers, so why do not you get an insurance specialist to give you advice. Now that you do not pass through a professional and you lose, I've never seen a Nigerian who went to court and did not go through a lawyer, because he is likely to lose, and everyone will tell you what you need, but when you you want to buy insurance, something technical, like insurance, you come to the insurance company, buy it, and you do not read the contract and do not even involve a professional to interpret it and tell you their rights.
As a person who is preparing to resign, can you offer health and education systems?
It's my pleasure; the health system and education systems are not what they should be, it still comes down to what Nigeria wants; if society wants to have a good health care system, then it must find a way to make society pay for it in a way that is acceptable to everyone, but we did not get there because we did not actually agree on what we want and how we want it get.
We better have a health system than Nigeria. But you know that over time everything has grown to what is now.
In the advanced world, private education is an exception, but in Nigeria it almost becomes the rule, and we almost equally treat health.
Perhaps we will have to return to what we called the council of primary education, so that community residents control the way and level of education there.
Unfortunately, we are moving to private education. So this is the business owner, not the business community.
We must update the system of our public education, as members of the community must participate in the education of people in this community. Perhaps, because we do not pay taxes at all, the government took over the management of education. If we pay all taxes like in other places, for example property taxes, in which case all your children living in Ikea will go to school in Ikea because their parents pay taxes and then parents will know what the public education is doing ,
So where are the problems: in good governance or structure?
Our problem is structural, but sometimes we think that this is a bad government, but even a good government will not help us if we do not consider such a structure.
The number of constituent units constituting a federation is too large, and many states spend 80 to 90 percent of their income on only repeated ones, so we need to deal with how Nigeria is structured.
In addition, from my point of view, the management system that we manage is also too expensive.
So, how do we solve the structural problem?
I dont know. It's complicated. My answer to this question is that it's a lot of problems.
If you say, let's cut Nigeria down to eight states, politicians almost lynch you. We really need to sit down our politicians and say that this is the best way out, and when so many people are not convinced, it becomes a problem.
I think we need to tinker with the structure, we have too many subnational divisions, and this is a huge drain on the country's resources.
Take the Southwest, where we have six commissioners by education; to achieve what? Six ministries of education with full recruitment; so this is achieved for the South-West.
When there is only one Ministry of Education, which determines the policy for research and development facilities, we will achieve more.
We must remove the railroad from the executive legislative list, so that it becomes parallel. I know that the state of Lagos makes its own railway, I think what Rivers did, Kano also did. There is something they do in Kano about the railway.
What is your attitude to the young leaders of the country?
"Azikive", "Awolovo", etc. The British did not empower them, they saw that they wanted their country to be better, and they rose. Why do young men want to create for them something like positive actions that were created for women, how good is it, maybe 10 young people in the government, this is what they want?
If you form 60 percent of the entire population, and you want people to organize you to take over your rights, then you do not know what your rights are.
Or, maybe, young people could not sell the best programs to their colleagues; so they want me to do their work for them; to give them work.
So, my agonists are not going to open their eyes and allow the young men to push them aside until we all die. We remain Nigerians, and we are stakeholders.