In a strategic move to enhance electrical safety in Nigeria, the Nigerian Electricity Management Services Agency (NEMSA) and the National Insurance Commission (NAICOM) have signed a Memorandum of Understanding (MoU). This partnership aims to ensure that all electrical installations in residential, commercial, and industrial buildings comply with safety regulations before insurance policies can be issued.
The agreement mandates that electrical installations undergo NEMSA certification as a prerequisite for obtaining insurance coverage. This initiative strengthens the Federal Government’s efforts to improve electricity sector reliability and reduce electrical hazards.
Speaking at the signing ceremony, NEMSA’s Managing Director and Chief Electrical Inspector of the Federation, Aliyu Tukur Tahir, emphasized the significance of integrating insurance into electrical safety enforcement. He stated that this collaboration would safeguard lives, protect investments, and uphold the integrity of the power sector.
Under the new framework, facility owners seeking statutory inspection, testing, and certification from NEMSA must ensure their properties are insured. This measure aims to enhance risk mitigation and encourage compliance with safety standards.
NAICOM’s Commissioner for Insurance, Olusegun Ayo Omosehin, reaffirmed the commission’s commitment to ensuring that insurance becomes a critical risk management tool in the power sector. He highlighted the role of insurance in cushioning the financial impact of electrical hazards and infrastructure-related incidents.
With this partnership, stakeholders in the electricity sector, including consumers, operators, and investors, will benefit from improved safety measures and risk management strategies. The collaboration reinforces the importance of insurance in safeguarding the power industry while ensuring compliance with essential safety regulations.
