The Nigeria Civil Aviation Authority (NCAA) and National Insurance Commission (NAICOM) have signed an MoU to strengthen aviation insurance regulation and oversight. The agreement also establishes a Joint Technical Committee on Aviation Insurance to improve regulatory coordination, information sharing and compliance.
 
NAICOM disclosed this in a recent statement. Chris Najomo, NCAA’s director-general, said the partnership would strengthen aviation safety, financial resilience, and passenger protection. Mr Najomo said aviation remained one of the safest modes of transportation globally, despite its high-impact operational risks.
 
He said such risks required adequate financial protection through a robust, transparent and verifiable insurance framework. According to him, the NCAA’s safety mandate must be complemented by effective aviation insurance arrangements.
 
He said collaboration with NAICOM would strengthen the foundation for operational safety and financial resilience in Nigeria’s aviation sector.
 
“NAICOM has, for several years, provided expert assessments on the adequacy and viability of insurance policies procured by aviation operators. This is in compliance with Part 18.14 of the Nigeria Civil Aviation Regulations 2023,” he said.
 
Mr Najomo said the MoU would deepen cooperation, enhance stakeholder confidence and support cost-efficient operations while addressing challenges faced by Nigerian operators. He said the partnership was designed not merely to enforce compliance but to create a balanced regulatory environment.
 
Olusegun Omosehin, NAICOM’s CEO, described the agreement as a significant milestone in institutional cooperation between both regulators. Mr Omosehin said the partnership would provide a coordinated framework for compliance, risk protection, information sharing and stakeholder confidence.
 
He said effective insurance protection was not merely a regulatory requirement but an essential risk-management tool. According to him, insurance safeguards lives, property, businesses and the wider economy against aviation-related risks.
 
Mr Omosehin said NAICOM would provide regulatory oversight and technical expertise on insurance matters, including verification of aviation insurance arrangements. He said the commission would provide information on licensed insurers authorised to underwrite aviation risks.
 
He added that NAICOM would support initiatives to protect Nigerians and promote compliance across the aviation industry.
 
“The Joint Technical Committee will serve as the engine room for the implementation of our shared objectives,” he said.
 
Mr Omosehin said the committee would facilitate information sharing, periodic reviews of insurance requirements and resolution of operational challenges. He said it would also coordinate stakeholder engagements and promote capacity building among relevant institutions and industry players.