Saturday, July 12, 2025
Home Business NAICOM/ NEMSA PARTNERS TO  ENSURE COMPLIANCE WITH ELECTRICAL SAFETY REGULATIONS AND INSURANCE...

NAICOM/ NEMSA PARTNERS TO  ENSURE COMPLIANCE WITH ELECTRICAL SAFETY REGULATIONS AND INSURANCE REQUIREMENTS

In a bid to enhance public safety and regulatory enforcement, the National Insurance Commission (NAICOM) and the Nigerian Electricity Management Services Agency (NEMSA) signed  Memorandum of Understanding to
underscore a shared commitment in ensuring compliance with electrical safety regulations and insurance requirements, reinforcing the protection of lives and property across Nigeria.
Reflecting on the significance of this collaboration, industry stakeholders recall years of fragmented enforcement, where electrical accidents led to substantial financial losses and fatalities.
” The absence of a structured mechanism linking technical certification with insurance coverage had left gaps in consumer protection’
‘This historic MoU aims to bridge that divide by ensuring that electrical installations in residential, commercial, and industrial spaces are both technically certified and adequately insured”
Managing Director/CEO of NEMSA, Engr. Aliyu Tahir reiterated the agency’s mission to uphold technical standards through inspections, testing, and certification of electrical infrastructure. He says , that the partnership with NAICOM would not only enhance compliance but also mitigate risks that have long threatened businesses and households.
 Commissioner for Insurance,  Olusegun Ayo Omosehin, described the agreement as a “landmark strategy” that will drive economic resilience by aligning regulatory oversight with proactive risk management.
“For NAICOM, this MoU represents a significant stride in deepening insurance penetration in critical sectors’
His deputy, Dr. Usman Jankara, reinforced NAICOM’s dedication to ensuring seamless execution, emphasizing that collaboration is key to achieving measurable progress.
“This MoU serves as a reflection of Nigeria’s evolving regulatory landscape—one that prioritizes preventive measures over reactive responses. By intertwining technical enforcement with insurance compliance, NAICOM and NEMSA have set a new precedent in safeguarding national infrastructure and consumer welfare. The legacy of this partnership will likely be measured not only in reduced electrical hazards but also in a more structured and resilient insurance ecosystem, fostering long-term economic stability”.
RELATED ARTICLES

NIGERIAN POLITICIANS DON’T KNOW WHY THEY WERE ELECTED – PROFESSOR PAT UTOMI.

   Professor Pat Utomi, has described the mass defection of politicians from one party to the other as a lack of understanding from the so-called...

INEC MOVES TO DIGITIZE POLITICAL PARTY REGISTRATION AS APPLICATIONS HIT 129.

  The Independent National Electoral Commission (INEC) says it has received a total of 129 applications from associations seeking registration as political parties. The update was...

CBN CLARIFIES NRBVN CHARGES FOR NIGERIANS IN DIASPORA, REAFFIRMS COMMITMENT TO FINANCIAL INCLUSION.

The Central Bank of Nigeria (CBN) has clarified recent speculations regarding charges related to the newly launched Non-Resident Bank Verification Number (NRBVN) platform, affirming...

Most Popular

HOUSE COMMITTEE ON SPORTS APPLAUDS SUPER FALCONS ON EARLY QUARTERFINAL QUALIFICATION.

The House of Representatives Committee on Sports has congratulated the Super Falcons on their impressive performance at the ongoing 2025 African Women’s Cup of...

REPS COMMITTEE CHAIR CALLS FOR NATIONAL RECOMMITMENT TO ACCOUNTABILITY, TRANSPARENCY.

  Chairman of the House of Representatives Committee on Public Accounts, Hon. Bamidele Salam, has called on Nigerians at all levels to recommit to accountability,...

NIGERIAN POLITICIANS DON’T KNOW WHY THEY WERE ELECTED – PROFESSOR PAT UTOMI.

   Professor Pat Utomi, has described the mass defection of politicians from one party to the other as a lack of understanding from the so-called...

NSC RALLIES FUNDING SUPPORT FOR NUGA, AS NIGERIA COMPETES AT WORLD UNIVERSITY GAMES.

The National Sports Commission (NSC) has played a pivotal role in securing the participation of Team Nigeria (represented by Nigeria University Games Association -...

Recent Comments