NAICOM Engages Transportation Ministry On Road Insurance 

Yemisi Izuora

The National Insurance Commission (NAICOM) and the Federal Ministry of Transportation have agreed to work in concert to ensure adequate insurance for road transport owners and users within Nigeria and ECOWAS member countries.

The agreement was reached when the Minister of State for Transportation, Sen. Gbemisola Saraki, paid a visit to the Commissioner for Insurance, Mr Sunday Thomas, in Abuja on Thursday.

A statement by the Commission said the Ministry and NAICOM agreed to immediately establish a joint committee to look into different areas of interest to ensure a mutually beneficial relationship.

Thomas assured the Minister of NAICOM’s readiness to collaborate with the Ministry to ensure adequate insurance coverage in the sector.

He said the Commission was concerned about fake insurances in the road transport sector, adding that NAICOM had developed technology for verification of insurance policies.

While speaking, Saraki said the Ministry had embarked on a transformation programme of the road transport sector that would have tremendous impact on the lives and wellbeing of citizens.

She noted that insurance was a critical aspect of transportation hence, the need to collaborate with NAICOM to ensure success of the programme.

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