NAIC, Transport Unions Plan Passenger Accident Insurance Scheme for Nigerian Commuters
- The Nigerian Agricultural Insurance Corporation announced plans to launch a Passenger Group Accident Insurance Scheme targeting road accident victims
- NAIC's Managing Director cited figures showing about 32,000 Nigerians sustain road accident injuries and 5,200 lose their lives every year
- The scheme is being developed alongside the National Union of Road Transport Workers and the Nigerian Association of Road Transport Owners
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The Nigerian Agricultural Insurance Corporation (NAIC) has announced plans to introduce a Passenger Group Accident Insurance Scheme that would provide financial cover for commuters injured or killed in road traffic accidents across Nigeria.
The announcement came during a visit by the leadership of the National Union of Road Transport Workers (NURTW) to NAIC's headquarters in Abuja, where Managing Director and Chief Executive Officer Hon. Yazid Shehu Danfulani outlined the proposed initiative.
Source: Original
A statement from NAIC's Manager of Corporate Affairs, Dr Lawal Umar Maradun, confirmed the development on Friday.
Why NAIC is pushing the scheme
Danfulani said the scale of road accident casualties in Nigeria made the insurance scheme urgent. He noted that roughly 32,000 commuters suffer injuries on Nigerian roads every year, while an estimated 5,200 people die annually in road traffic accidents.
"The proposed Passenger Group Accident Insurance Scheme is a strategic intervention designed to reduce the financial burden on victims of road traffic accidents and their families," Danfulani said during the meeting.
He said the cover would provide financial relief to both survivors and bereaved families, helping to cushion the economic impact of injuries and deaths.
He described the scheme as complementing existing Federal Government efforts on road safety and social protection.
Partners and implementation plan
Beyond NURTW, the Nigerian Association of Road Transport Owners (NARTO) is also involved in the partnership. A project consultant attended the Abuja meeting, and all parties presented an implementation roadmap for the scheme during the session.
Representatives of NURTW and NARTO pledged their support for the initiative, expressing confidence that the partnership would deliver improved road safety outcomes and greater financial security for millions of commuters nationwide.
Danfulani reaffirmed NAIC's commitment to developing insurance products that respond to national challenges while improving the welfare of ordinary Nigerians.
Source: Legit.ng
