In a move set to boost investor confidence and improve the ease of doing business, the National Insurance Commission has unveiled a revised regulation on insurance for leased and financed aircraft in Nigeria.
The unveiling ceremony, which took place at the Office of the Minister of Aviation and Aerospace Development in Abuja, highlighted a collaborative framework between NAICOM, the Ministry of Aviation, and key industry stakeholders aimed at strengthening both the aviation and insurance sectors.
Speaking at the event, the Commissioner for Insurance, Olusegun Omosehin, described the revised regulation as a significant milestone in aviation insurance reform.
According to him, the new framework introduces certainty, predictability, and market stability while aligning Nigeria’s aviation insurance standards with global best practices.
“This is a transformative regulation that enhances the capacity of the insurance sector and sends a clear signal to the global aviation market that Nigeria is committed to international standards,” Omosehin said.
The revised framework was developed after extensive consultations with aviation operators, underwriters, international financiers, and aircraft lessors.
