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Answered 2014-02-10 22:50:45

the need for developing insurance business in Nigeria

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2011- Nigeria is developing and has not yet developed.


The role of insurance companies in Nigeria can never be over emphasized, it is the pillar of every successful business. The insurance companies have given Nigerians the faith to invest in business without fear of losing out. Most financial institution may not want to loan to individuals without them endorsing an insurance policy. The advent of insurance companies in Nigeria has greatly improved the development of the country in the area of finance, individual business and public welfare.


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Nigeria Deposit Insurance Corporation was created in 1988.


Besause the american started the Nigerians and by their heredity the English language started developing in Nigeria



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Probably fraud like everything else involved with Nigeria.


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The impact of small scale business in nigeria economic are much to the extend that a word can not describe it no matter how you want to classify it.The impact has created a lot of business to nigeria system, for instance, MTN Nigeria has contributed and invested much into the economy.


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A small scale business in Nigeria is one that doesn't do as much business as a market leader. Typically, these businesses are locally owned businesses.


Insurance plays a very significant role in the economic development of Nigeria. With the insurance covers, more people are able to take the risk on investment which greatly boosts the economy.



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