The National Insurance Commission and the Bureau of Public Procurement have signed a Memorandum of Understanding to strengthen insurance compliance in Nigeria’s public procurement system.
The agreement, signed in Abuja, is aimed at deepening regulatory collaboration, boosting transparency, and supporting economic transformation.
Commissioner for Insurance, Olusegun Ayo Omosehin, says the partnership will ensure proper insurance coverage for government projects and protect public assets.
He adds that the move aligns with ongoing reforms to reposition the insurance sector and improve market confidence.
Director-General of BPP, Adebowale Adedokun, describes the MoU as a step towards efficient, transparent, and fully digital procurement processes.
He emphasizes that implementation will be key, warning that only qualified and compliant operators will be engaged.
Both agencies say the collaboration will promote accountability, strengthen risk management, and support Nigeria’s broader economic growth agenda.
