This verse along with the next one state who are the people fearing Allah and, therefore, having His approval and paradise.

Getting the approval of the Almighty can only be attained by believing in Him. Moreover, the very first action of a believer is to pray for the forgiveness of the Almighty; and such prayer indicates high manners. This is another example of how perfect is the Quranic wording, for the Almighty is well aware of the human nature and that humans are imperfect. On the other hand, it’s taken for granted that the Lord of humanity is the only perfect one. Humans, even true believers, have weaknesses sometimes:

 {وَخُلِقَ الْإِنسَانُ ضَعِيفًا}

(and mankind was created weak.) (An-Nisaa: 28)

Therefore, when people believe, the first thing they have to do is to fortify themselves by asking for Allah’s forgiveness because they realize that they will miss something even if they fulfill all rights and duties ordered by the Almighty. In this context, Prophet Muhammad, (swt), used to pray the ‘Qiyam Prayer’ till his feet ached and was subsequently asked why he did that although the Almighty had forgiven all his sins of the past and those to follow.

“Shouldn’t I be a thankful slave of Allah[1],”

he answered. In all, to be thankful for the blessing is part of belief in Allah (swt). Can you be thankful to the Almighty for all His blessings? No, never. Thus, we are in default and have to ask for the forgiveness of the Almighty.

( وَقِنَا عَذَابَ النَّارِ … ) (…and protect us from the punishment of the Fire,”): This is another thing we have to ask the Almighty for because even if He forgives your past sins and the one to follow, nothing guarantees that the Almighty will send you to paradise and protect you for the punishment of fire. The Almighty, anyhow, is Just and Wise.

[1] Hadith no. 4556, Chapter: Prophetic Commentary on the Qur’an (Tafseer of the Prophet (pbuh)), Surat Al-Fath Vol. Sahih Al-Bukhari.