NAICOM, NCAA Sign Pact to Strengthen Insurance Protection for Air Travellers
By Patience Ikpeme
The National Insurance Commission (NAICOM) and the Nigeria Civil Aviation Authority (NCAA) have signed a Memorandum of Understanding (MoU) aimed at tightening how insurance works across Nigeria’s aviation industry, in a move officials say will offer stronger protection to air travellers and other Nigerians affected by aviation-related incidents.
Speaking at the signing ceremony, the Commissioner for Insurance and Chief Executive Officer of NAICOM explained that compulsory aviation liability insurance exists to guarantee that passengers and other affected parties are compensated whenever something goes wrong and they are legally entitled to a payout. According to the Commissioner, a solid insurance framework builds public trust in air travel, keeps businesses running smoothly, and makes it easier for the industry to attract financing and investment.
The Commissioner also linked the new agreement to Nigeria’s international standing, noting that the partnership will help the country’s aviation sector keep pace with global conventions and international best practices. “This Memorandum of Understanding therefore represents more than an institutional arrangement,” the Commissioner said, describing it instead as a firm pledge to improve compliance and build confidence in aviation insurance across the country.
The MoU itself was signed at a formal ceremony attended by the NCAA Director-General, Captain Chris Ona Najomo, along with senior officials from both regulatory bodies and members of the aviation and insurance industries. Under the agreement, the two organisations will work more closely together on compliance, risk protection, information sharing, and confidence-building measures that are expected to benefit everyone connected to air travel in Nigeria — from passengers and airline operators to insurers, financiers, and aircraft lessors.
Explaining what the partnership means in practice, the Commissioner said NAICOM will continue to carry out its regulatory duties around aviation insurance, including confirming which insurance companies are properly licensed to cover aviation risks, sharing this information publicly, and supporting efforts that shield Nigerians from unqualified or fraudulent cover.
A central feature of the new arrangement is the creation of a Joint Technical Committee, which the Commissioner described as the engine room that will drive the partnership forward. The Committee’s job will include sharing information between the two regulators, regularly reviewing insurance requirements for airlines and operators, resolving practical problems as they come up, organising joint engagement with industry stakeholders, and building the skills of staff and industry players alike. The Commissioner promised that NAICOM will give the Committee whatever technical support and expertise it needs to succeed, calling it a strategic tool for tightening regulatory cooperation and improving confidence in aviation insurance.
Beyond the technical details, the Commissioner tied the agreement to Nigeria’s broader economic ambitions, pointing to the country’s drive to build a one trillion-dollar economy by the year 2030 under the Renewed Hope Agenda. He argued that strong risk management and dependable insurance cover must remain central to that goal, since they protect investment, support enterprise, and safeguard ordinary consumers.
The Commissioner used the occasion to thank NCAA’s leadership for its cooperation throughout the process and expressed hope for a long and productive working relationship between the two agencies going forward.
