The Nigeria Civil Aviation Authority (NCAA) and the National Insurance Commission (NAICOM) have signed a Memorandum of Understanding (MoU) to strengthen cooperation in regulating and overseeing aviation insurance in Nigeria.
The MoU was signed at the NCAA Corporate Headquarters by the Director-General of Civil Aviation, Captain Chris Ona Najomo, and the Commissioner for Insurance and Chief Executive Officer of NAICOM, Olusegun Ayo Omosehin.
Speaking at the ceremony, Najomo said the agreement culminated from a long-standing collaborative relationship between the two regulatory institutions and reinforced their shared commitment to strengthening aviation safety, financial resilience, regulatory compliance and the protection of the travelling public and other aviation stakeholders.
The MoU also provided for the formal establishment of a Joint Technical Committee on Aviation Insurance, co-chaired by representatives from the NCAA and NAICOM.
The Director-General noted that aviation remained a paradoxical industry, globally recognised as the safest mode of transportation but characterised by high-impact operational risks.
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“As the Authority statutorily responsible for regulating and mitigating these risks at the State level, our safety mandate must be complemented by a robust, transparent, and verifiable insurance framework.
“This partnership with NAICOM strengthens that foundation and reinforces the operational safety and financial resilience of the Nigerian aviation sector. For several years, NCAA and NAICOM have worked closely, with NAICOM providing expert assessments on the adequacy and viability of insurance policies procured by aviation operators in compliance with Part 18.14 of the Nigeria Civil Aviation Regulations 2023,” Najomo explained.
Najomo noted that the MoU would deepen cooperation, enhance stakeholder confidence and support cost-efficient operations while addressing challenges faced by Nigerian operators.
He further stated that the collaboration would promote sustainable insurance practices and minimise avoidable regulatory and operational challenges while supporting the long-term growth and resilience of Nigeria’s aviation industry, in line with the Renewed Hope Agenda of the Nigerian Government.
The NCAA Director-General commended the Joint Technical Teams of the NCAA and NAICOM for the diligence and professionalism demonstrated in developing the MoU.
He expressed confidence that the Joint Technical Committee established under the framework would discharge its responsibilities diligently and ensure that the objectives of the partnership translated into measurable improvements in aviation insurance compliance and oversight.
Najomo said the partnership provided a stronger institutional framework for achieving both aviation safety and adequate financial protection.
For his part, the NAICOM Commissioner for Insurance and Chief Executive Officer, Omosehin, said the occasion represented not only the strengthening of institutional cooperation but also a clear affirmation of a shared regulatory commitment to the safety, integrity and resilience of the Nigerian aviation ecosystem.
He said, given the nature of aviation operations, effective insurance protection was not merely a regulatory requirement but an essential risk management tool that safeguarded the lives of travellers, property and businesses within the broader economy.
