NAICOM commissioner Olorundare Thomas appointed to NCDMB Governing Council

Dr Alim Abubakre, British-Nigerian founder of TEXEM UK, a consulting firm in the United Kingdom, says the appointment of Olorundare Thomas to the Nigerian Content Development and Monitoring Board (NCDMB) Governing Council is strategic and exemplary.

Thomas is Nigeria’s Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM).

Abubakre, while speaking with the News Agency of Nigeria (NAN), said the appointment is also unique in the dynamic landscape of Nigeria’s oil and gas industry, where each appointment resonates with significance.

He said the inauguration of the 4th Governing Council of the NCDMB marks a pivotal moment in the industry’s trajectory.

Spearheaded by the Minister of State for Petroleum Resources (Oil), Sen. Heineken Lokpobiri, this council is entrusted with the crucial mandate of fostering indigenous human and infrastructural capacities within the oil and gas sector.

“Mr Thomas’s inclusion underscores his exceptional leadership acumen and unwavering commitment to advancing Nigeria’s economic interests.

“Drawing from his extensive experience and remarkable achievements, Mr. Thomas stands poised to make invaluable contributions to the NCDMB Governing Council.

“His exemplary stewardship at NAICOM, coupled with his visionary approach towards driving transformative initiatives, exemplifies the calibre of leadership essential for steering the NCDMB towards greater heights of success,” Abubakre said.

He said that Thomas’s multifaceted contributions extend beyond the realm of insurance.

“His pioneering role in establishing and eventually taking off the College of Insurance Supervisors of West African Monetary Zone (CISWAMZ) is a testament to his visionary leadership and proactive engagement in regional initiatives.

“Recognised for his outstanding contributions, Mr. Thomas continues to exemplify excellence and innovation within the regulatory landscape.

“Moreover, Mr Thomas’s strategic foresight is exemplified by the inauguration of a 10-year transformation roadmap for the insurance industry,” Abubakre added.

He said the ambitious endeavour, spanning from 2024 to 2033, underscores Thomas’s unwavering dedication to fostering sustainable growth and development within the insurance sector.

Abubakre said that Thomas exemplifies the transformative impact of continuous learning and professional development as an alumnus of TEXEM, having participated in the company’s executive development programme titled “Risk Management and Effective Leadership.”

“His steadfast dedication to excellence serves as an inspiration to aspiring leaders across various sectors.

“In celebrating Mr Olorundare Sunday Thomas’s appointment to the NCDMB Governing Council, we commend his exemplary leadership, unwavering commitment to excellence, and steadfast dedication to advancing Nigeria’s economic interests.

“His appointment should herald a new era of innovation, collaboration, and sustainable growth within the oil and gas industry,” Abubakre noted.

He said that having a strategic leader like Thomas championing good local content policy governance will empower Nigeria’s sustainable future.

Abubakar said this is by fostering economic growth, equitable wealth distribution, technology transfer, infrastructure development, environmental protection, social cohesion, and self-reliance.

“Together, these pillars fortify Nigeria, paving the path for enduring prosperity and progress.

“With Thomas’s expertise in policy formulation and strategic resource allocation, he will champion excellent local content policies, fostering economic growth, technology transfer, and social inclusion, driving Nigeria towards sustainable development,” he stated.