The National Insurance Commission, (NAICOM) in collaboration with the Federal Ministry of Transportation have agreed to ensure the provision of adequate insurance for road transport owners and users within Nigeria and ECOWAS member countries.

The Ministry and NAICOM have agreed to immediately establish a joint committee to look into different areas of interest to ensure a mutually beneficial relationship.

This outcome is the offshoot of the meeting between both parties, when the Minister of State, Transportation Gbemisola Ruquyyah Saraki led her management to interface with NAICOM at the headquarters in Abuja.

While speaking, the Minister informed the meeting that the Federal Ministry of Transportation has embarked upon a transformation programme of the road transportation sector that will have tremendous impact on the lives and wellbeing of the Nigerian people. She noted that insurance is a critical aspect of Transportation hence the need to collaborate with NAICOM to ensure a success of the programme.

In his response, the Commissioner For Insurance, Mr. Olorundare Sunday Thomas assured the Minister of the readiness of the Commission to collaborate with the Ministry to ensure adequate insurance coverage in the sector.

Thomas informed the Minister that the Commission in its bid to check the issue of fake insurance by deploying technology for verification of insurance policies.