In
a significant move to enhance electrical safety and ensure compliance within Nigeria’s power sector, the National Insurance Commission (NAICOM) and the Nigerian Electricity Management Services Agency (NEMSA) have signed a Memorandum of Understanding (MoU). This partnership aims to establish a collaborative framework where all electrical installations in residential, commercial, and industrial premises must be certified by NEMSA before insurance policies are processed by licensed companies.
The MoU underscores the commitment of both agencies to safeguard lives and property by enforcing strict adherence to technical standards and regulations. By integrating insurance compliance into electrical safety enforcement, the collaboration seeks to mitigate risks associated with electrical accidents and infrastructure failures, thereby promoting a safer and more reliable electricity supply across the nation.
NAICOM’s Commissioner for Insurance, Mr. Olusegun Ayo Omosehin, emphasized the critical role of insurance in managing risks within the power sector. He stated, “Through this MoU, we will work closely with NEMSA to enforce compliance with relevant insurance policies, ensuring that the power sector operates with adequate risk mitigation mechanisms in place.”
NEMSA’s Managing Director and Chief Electrical Inspector of the Federation, Engr. Aliyu Tukur Tahir, highlighted the importance of this collaboration in upholding safety standards. He noted that the partnership is a significant step towards ensuring that all electricity consumers, operators, and investors adhere to the highest safety and risk management standards.
"This strategic alliance between NAICOM and NEMSA marks a milestone in the drive to enhance safety, reliability,"
NAICOM X NEMSA
This strategic alliance between NAICOM and NEMSA marks a milestone in the drive to enhance safety, reliability, and sustainability within Nigeria’s electricity industry, reflecting a shared commitment to protecting lives and investments through rigorous compliance and enforcement measures.
