NCAA, NAICOM strengthen aviation insurance oversight
Lagos, Sept. 9, 2026 (TBL Africa) 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 statement on Wednesday in Lagos.
Capt. Chris Najomo, Director-General, NCAA, said the partnership would strengthen aviation safety, financial resilience and protection of passengers.
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.
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.
Najomo said the environment would ensure that aviation safety and financial protection complemented each other.
He said the Joint Technical Committee would promote sustainable insurance practices and minimise avoidable regulatory and operational challenges.
Najomo expressed confidence that the committee would translate the partnership’s objectives into measurable improvements in aviation insurance compliance and oversight.
Mr Olusegun Omosehin, Chief Executive Officer, NAICOM, described the agreement as a significant milestone in institutional cooperation between both regulators.
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.
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 aimed at protecting Nigerians and promoting compliance across the aviation industry.
“The Joint Technical Committee will serve as the engine room for the implementation of our shared objectives,” he said.
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.
Omosehin assured the NCAA of NAICOM’s commitment to providing technical support and expertise required by the committee.
He said the MoU’s provisions on information exchange, joint engagement and training would improve regulatory effectiveness.
He added that periodic assessment of insurance covers maintained by aviation operators would further strengthen oversight.
The NAICOM chief said the collaboration would boost confidence among passengers, operators, insurers, financiers, lessors and international partners.
He noted that compulsory aviation liability insurance remained an important safeguard for air travellers and third parties.
According to him, such insurance ensured compensation was available where legally due following covered aviation incidents.
Omosehin said a robust aviation insurance framework would promote public confidence in air transportation and support business continuity.
He added that it would facilitate investment and enhance access to financing for aviation operators.
Omosehin said effective risk management and strong insurance protection remained important to Nigeria’s pursuit of a $1 trillion economy by 2030.
He linked the objective to the Federal Government’s Renewed Hope Agenda.
He said the success of the collaboration would depend on sustained engagement, mutual trust and regulatory excellence.
Omosehin said the MoU would ultimately contribute to a safer, more resilient and trusted air transport system.
He added that the partnership would also strengthen Nigeria’s insurance industry and contribute to broader economic development.
He commended NCAA leadership for its partnership and cooperation throughout the process leading to the signing.
