The National Insurance Commission (NAICOM) Nigerian Police Force (NPF) begun nationwide enforcement of the Motor Third Party Liability (MTPL) Insurance regulations on 1 February 2025.
Less than 30% of vehicles on the Nigerian road are insured although MTPL insurance was made compulsory through legislation since 2003.
According to a report by the newspaper This Day, the chairman of the Nigerian Insurers Association (NIA), Mr Kunle Ahmed, said, “The NIA recognises the immense potential of this enforcement to drive positive change in the insurance industry and the broader economy. With millions of vehicles on Nigerian roads, this move is expected to increase the number of genuinely insured vehicles, reduce the prevalence of fake insurance policies, and create a more robust safety net for motorists and road users alike.”
In what is seen as a related development, the police force has established NPF Insurance Company as a general insurance underwriting company. The new insurer was licensed by NAICOM on 28 November 2024.