NAIC Proposes Passenger Accident Insurance Scheme for Nigerian Commuters

The Nigerian Agricultural Insurance Corporation (NAIC) has unveiled plans to introduce a Passenger Group Accident Insurance Scheme aimed at providing financial protection for commuters affected by road traffic accidents across the country.

The proposal was announced during a meeting held at the Corporation’s headquarters in Abuja when the leadership of the National Union of Road Transport Workers (NURTW) paid a courtesy visit to the Managing Director and Chief Executive Officer of NAIC, Honourable Yazid Shehu Danfulani.

This was conveyed in a statement signed by the Manager, Corporate Affairs of NAIC, Dr. Lawal Umar Maradun, and made available to The Historica Nigeria on Friday.

Speaking during the meeting, Danfulani described the proposed Passenger Group Accident Insurance Scheme as a strategic intervention designed to reduce the financial burden on victims of road traffic accidents and their families.

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He explained that NAIC is developing the initiative in partnership with the National Union of Road Transport Workers (NURTW) and the Nigerian Association of Road Transport Owners (NARTO) as part of efforts to complement the Federal Government’s commitment to improving road safety and social protection.

According to the NAIC Managing Director, an estimated 32,000 commuters sustain injuries while about 5,200 people lose their lives annually as a result of road traffic accidents on Nigerian roads.

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He said the proposed insurance scheme would provide financial relief to accident victims and their families, helping to cushion the economic impact of injuries and fatalities.

Danfulani reaffirmed NAIC’s commitment to developing innovative insurance products that respond to national challenges while promoting the welfare and security of Nigerians.

Representatives of the NURTW and NARTO, alongside the project’s consultant, expressed their readiness to partner with the Corporation to ensure the successful implementation of the initiative.

The meeting also featured a presentation outlining the roadmap for the proposed Passenger Group Accident Insurance Scheme, with stakeholders expressing optimism that the partnership would enhance road safety, strengthen social protection and provide greater financial security for millions of commuters across Nigeria.