NAICOM, NEMSA sign MoU to strengthen electrical safety, insurance compliance
BY MOTOLANI OSENI
The National Insurance Commission (NAICOM) and the Nigerian Electricity Management Services Agency (NEMSA) have entered into a historic partnership to enhance electrical safety and enforce insurance compliance.
The two agencies signed a Memorandum of Understanding (MoU) to establish a framework for mutual understanding and cooperation in fulfilling their regulatory obligations while prioritising the safety of lives and property in relation to electrical incidents.
At the signing ceremony held at NAICOM’s headquarters on Friday, February 7, 2025, NEMSA’s Managing Director, Engr. Aliyu T. Tahir, highlighted the agency’s mandate to enforce technical standards and regulations, conduct inspections, testing, and certification of electrical installations.
He explained the importance of synergy between NAICOM and NEMSA to ensure safety, mitigate risks, and promote economic growth, adding that NEMSA will certify electrical installations in residential, commercial, and industrial premises while ensuring that facility applicants obtain insurance from licensed insurance companies.
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Commissioner for Insurance, Mr Olusegun Ayo Omosehin, described the partnership as a landmark strategy that will foster national development through collaboration and enforcement.
He reiterated NAICOM’s commitment to achieving full compliance with the regulatory framework and ensuring that insurance plays a vital role in mitigating risks associated with electrical installations.
Deputy Commissioner for Insurance Technical, Dr Usman Jankara, assured the NEMSA delegation of NAICOM’s dedication to the partnership, emphasising the need for teamwork to achieve shared objectives.
He underscored the significance of the MoU in strengthening regulatory enforcement and ensuring public safety through effective insurance coverage for electrical installations.
The signing of the MoU marks a major milestone in the collaboration between NAICOM and NEMSA, setting the stage for a more structured approach to electrical safety, risk mitigation, and insurance compliance in Nigeria. By working together, both agencies aim to protect investments, reduce hazards, and contribute to the country’s economic growth through effective regulatory oversight.
