By Sola Alabadan
The National Insurance Commission (NAICOM) organised a Performance Management Workshop in Ikot-Epkene, Akwa Ibom State recently, as part of efforts to build a culture of accountability, excellence in the Commission.
In appreciation of the fact that performance management is the backbone of successful organisations, Dr Usman Jankara, NAICOM’s Deputy Commissioner (Technical) stated that “For NAICOM, it means ensuring that every Directorate, Department, Unit, and individual staff member is aligned with our strategic vision: A safe, stable, and globally competitive insurance industry that contributes optimally to Nigeria’s economic development.”
NAICOM’s five strategic goals are to:
protect policyholders and restore confidence in the insurance industry; strengthen supervisory capacity and organisational effectiveness; ensure financial soundness and stability of the insurance sector; promote innovation and sustainability in products and processes, as well as expand insurance penetration and accessibility across Nigeria.
To achieve these goals, Jankara informed that NAICOM is adopting the OKR (Objectives and Key Results) framework; a globally recognised performance management approach. OKR is a goal-setting system that links qualitative objectives with quantifiable key results.
He added that “For NAICOM, adoption of OKR will promote alignment and transparency across teams, enable us to focus on outcomes, not activities, and most importantly, it is ideal for mission-driven, non-profit organisations like NAICOM because it emphasises impact over profit.
“Every staff member will have clear, measurable key results aligned with Directorate and Commission-wide objectives. To this end, you might decide to use SMART principles: (Specific, Measurable, Achievable, Relevant, Time-bound), and ensure that scoring follow global best practice. Let me reiterate that this is not about punishment; it is about clarity, accountability, and continuous improvement.”
From the workshop and subsequent implementation, he pointed out that the management expects full alignment of Directorate and Departmental goals with NAICOM’s strategic priorities, improved regulatory efficiency through risk-based supervision and digital transformation and enhanced consumer confidence via prompt claims settlement and transparency, as well as greater insurance penetration, supporting Nigeria’s economic aspirations.
Speaking on the positive gains of the Nigerian Insurance Industry Reform Act (NIIRA) 2025, he said the management of NAICOM will not rest until these reforms reposition the industry as a pillar of Nigeria’s financial system.
