Nigeria insurance services market analysis: identify risks and strategic growth opportunities

The article is devoted to the analysis of the development of the insurance market in Nigeria. The authors considered the most important indicators of the development of the Nigerian insurance market, assessed the concentration on it, and also investigated the issue of changing approaches to regulating the insurance market. Based on the analysis, the article identified the main risks of the development of the insurance industry in Nigeria, as well as identified key opportunities for the growth of the insurance market. It was noted that despite the presence of established problems, the market has great growth potential associated with the availability of opportunities for foreign investors to participate in the capital of insurance companies, changes in the field of market regulation, as well as due to the large population of the country, which creates a large potential base for sales of insurance products.