Home Business 50% Of Nigerian vehicles are in Lagos, Kano – Thomas

50% Of Nigerian vehicles are in Lagos, Kano – Thomas

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Commissioner for Insurance, Mr Sunday Thomas, has said, of the 13 million vehicles on Nigeria’s roads, about 50 per cent, or 6.5 million, are in the country’s two economic centres; Lagos and Kano.

He said while Lagos is the commercial centre of the country, Kano State is the northern commercial centre of the country.

The commissioner said this during a courtesy visit alongside officials of the National Insurance Commission (NAICOM) to the Kano State governor, Abdullahi Umar Ganduje recently, emphasizing that almost 50 per cent of the vehicles circulating on Nigerian roads are in Kano and Lagos only.

He also convinced the state government to work with the insurance industry to insure all vehicles in the state, adding that this will have a significant impact on Internal Generated Revenue (IGR), as it will increase revenue for everyone involved.

Speaking further, he said: “The issue of collapsed buildings has continued to be one of the problems in our big and major cities in the country that seems to have defied solutions and checks put in place by the authorities.

“The commission is collaborating with some federal agencies like the Fire Service, Police and relevant professional associations like COREN to ensure provisions of the law regarding the insurance of public buildings against 3rd party liability and all buildings under construction that are above 2 floors are strictly adhered to.”

While seeking the cooperation of the governor to work closely with the insurance industry on the introduction and enforcement of insurance to keep life and property safe and secure in Kano State, he noted that NAICOM was planning to conduct a one-day awareness workshop for permanent secretaries and directors of all MDAs in the state to raise awareness of the need and benefits of adequately protecting and securing strategic government assets and human resources.

“I want to use this opportunity to seek for the Kano State Government’s assistance in the implementation of compulsory insurances. The commission is in talks with stakeholders to ensure that enforcement commences in earnest for all classes of compulsory insurance across the country,” he said.

Governor Ganduje in response praised the commission for its efforts to develop the insurance sector and urged the industry to do more to gain public trust and improve public perception of the industry.

The governor also accepted NAICOM’s motions and directed that a strong committee be immediately formed to address the aspects of mandatory insurance implementation and to work with the legislature on taming insurance laws in the state.

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