The Inspector General of Police (IGP), Mr. Kayode Adeolu Egbetokun, has disclosed that only 30 percent of vehicles in Nigeria are insured.
He spoke during a working visit by the Commissioner for Insurance and Chief Executive Officer of the National Insurance Commission (NAICOM), Mr. Olusegun Ayo Omosehin, to the Force Headquarters on Friday.
During the meeting, the IGP expressed concern over the widespread non-compliance with the compulsory third-party motor insurance law in Nigeria.
He noted that this law mandates vehicle owners to obtain at least third-party insurance coverage, noting that failure to comply is a punishable offense.
Despite this requirement, a significant number of Nigerians continue to operate vehicles without the legally mandated insurance.
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Pointing out the numerous benefits of insurance, the IGP stressed its importance in protecting lives and property.
He urged Nigerians to prioritise obtaining at least third-party motor insurance before driving on the country’s roads.
To address the low compliance rate, Egbetokun announced that the full enforcement of third-party motor insurance would commence on February 1, 2025.
In response, the Commissioner for Insurance, Omosehin, reiterated NAICOM’s commitment to supporting the police in enforcing all compulsory insurance policies, with a particular focus on third-party motor insurance.
He emphasised the critical need for a mass awareness campaign to educate the public on the importance of insurance and ensure effective enforcement.
Omosehin also called for the education and training of police officers to equip them with the necessary knowledge to enforce the law seamlessly.
He pledged NAICOM’s support in providing resources and expertise to guarantee the success of the initiative.
