The Nigerian Police Force’s upcoming enforcement of the Third-Party Motor Insurance policy, set to begin on February 1, 2025, is hailed as a transformative development for the country’s insurance industry. Kunle Ahmed, Chairman of the Nigerian Insurers Association (NIA), has expressed strong support for the move, describing it as a game-changer that will promote public confidence in insurance, reduce the number of uninsured drivers, and stimulate economic activity.
In a statement, Ahmed commended the Inspector-General of Police (IGP), Kayode Egbetokun, for taking decisive action that will not only ensure financial protection for accident victims but also provide essential coverage for car owners. The third-party motor insurance policy is designed to compensate victims for property damage and medical expenses resulting from road accidents, further solidifying trust in the insurance sector.
“The enforcement of third-party motor insurance is a timely and commendable step by the Nigeria Police Force,” Ahmed said. “This policy is a vital strategy for protecting victims of road accidents, and it also helps curb the prevalence of fake insurance policies. With millions of vehicles on Nigerian roads, this initiative is expected to drive genuine coverage, enhance safety, and build a stronger safety net for motorists and road users.”
Ahmed emphasized that the NIA is aligned with this initiative as part of its broader goal to increase awareness of insurance benefits across the country. The association is prepared to facilitate seamless access to third-party motor insurance policies through licensed and authorized insurers, ensuring that motorists comply with the law and gain the necessary coverage.
“We are committed to providing efficient service, innovative products, and excellent customer experiences to the public,” Ahmed added. “The NIA is also collaborating with the National Insurance Commission (NAICOM) to enhance public awareness and educate Nigerians about the importance of securing legitimate motor insurance policies.”
He urged vehicle owners nationwide to take advantage of this opportunity to protect themselves, their vehicles, and others on the road by obtaining third-party motor insurance from authorized insurers. With this enforcement, Nigeria is on track to build a safer, more accountable road network, ensuring better protection for all citizens.
