NAICOM, NCAA Partner To Strengthen Aviation Insurance, Protect Passengers

By Sola Alabadan

A Memorandum of Understanding was signed today in Abuja between the National Insurance Commission (NAICOM) and the Nigeria Civil Aviation Authority (NCAA), to strengthen institutional cooperation, as well as to affirm their commitment to the safety, integrity, and resilience of Nigeria’s aviation ecosystem.
The Commissioner for Insurance/CEO, NAICOM, Mr Olusegun Omosehin represented the commission, while Director General of the NCAA, Chris Najomo, signed on behalf of the aviation agency.
In his remarks, Omosehin, said “Through this partnership, we are advancing a more coordinated framework for compliance, risk protection, information sharing, and stakeholder confidence—one that better serves passengers, operators, insurers, financiers, lessors, international partners, and the Nigerian public at large”.
In view of the fact that the aviation industry occupies a strategic position in the economy, providing critical services that support commerce, tourism, investment, and national development, he said effective insurance protection is not merely a regulatory requirement; it is an essential risk management tool that safeguards lives, property, businesses, and the broader economy.
“It is therefore imperative that regulators work together to ensure that the insurance arrangements supporting the aviation sector remain adequate, valid, and responsive to emerging risks” Omosehin stressed. 
Omosehin affirmed that “Through this collaboration, NAICOM will continue to provide regulatory oversight and technical expertise in insurance matters, including the verification of aviation insurance arrangements, the provision of information on licensed insurers authorised to underwrite aviation risks, and support for initiatives that protect Nigerians and promote industry compliance”. 
The Memorandum also establishes a Joint Technical Committee which will serve as the engine room for the implementation of their shared objectives. The Committee is expected to facilitate information sharing, conduct periodic reviews of insurance requirements, address operational challenges, coordinate stakeholder engagements, and promote capacity building for both institutions and industry participants. 

On his part, the Director-General of the NCAA, described the MoU as a landmark development that would strengthen aviation safety, financial resilience, regulatory compliance and protection of the travelling public.

Najomo said aviation remained a paradoxical industry, globally recognised as one of the safest modes of transportation but still exposed to high-impact operational risks.

He noted that the NCAA’s safety mandate must therefore be complemented by a robust, transparent and verifiable insurance framework.

According to him, the NCAA and NAICOM have collaborated for several years, with NAICOM providing expert assessments on the adequacy and viability of insurance policies procured by aviation operators in compliance with Part 18.14 of the Nigeria Civil Aviation Regulations 2023.

He said the new agreement would deepen that collaboration, enhance stakeholder confidence, support cost-efficient operations and help address challenges confronting Nigerian aviation operators.

Najomo equally emphasised that the objective was not simply to enforce compliance but to create a balanced regulatory environment where aviation safety and financial protection complement each other.

He expressed confidence that the Joint Technical Committee would translate the agreement into measurable improvements in aviation insurance compliance and oversight.

“As we sign this MoU today, we reaffirm a simple but important principle: aviation safety must be supported by adequate financial protection. This partnership provides a stronger institutional framework for achieving both,” Najomo said.