The National Insurance Commission and the Nigerian Electricity Management Services Agency have entered into a historic partnership, signing a Memorandum of Understanding on electrical safety and enhancing insurance compliance.
In a statement on Friday, the regulator said the MoU aims to establish a framework for mutual understanding and cooperation in achieving their regulatory obligations, prioritising the safety of lives and property in relation to electrical incidents.
At the signing ceremony held at the NAICOM Headquarters, the Managing Director/Chief Executive Officer of NEMSA, Aliyu Tahir, highlighted the agency’s mandate to enforce technical standards and regulations, conduct inspections, testing, and certification of electrical installations.
He said that a synergy between NAICOM and NEMSA will ensure safety and mitigate risks.
According to the regulator, the key objectives of the MoU include synergy and cooperation: both agencies will work together to ensure the safety of lives and property. Certification and Compliance: NEMSA will certify electrical installations in residential, commercial, and industrial premises while ensuring that facility applicants are insured by licensed insurance companies. Risk Mitigation and Economic Growth: The partnership aims to mitigate potential risks, protect investments, and promote economic growth.
The Commissioner for Insurance, Mr. Olusegun Omosehin, expressed his enthusiasm about the partnership, describing it as a “landmark strategy” that will foster development through collaboration and enforcement. He reaffirmed NAICOM’s commitment to achieving expected compliance.
The Deputy Commissioner for Insurance Technical, Dr. Usman Jankara, reassured the NEMSA delegation of NAICOM’s commitment to the partnership, emphasising the importance of teamwork in achieving their shared objectives.
The signing of the MoU marks a significant milestone in the collaboration between NAICOM and NEMSA, paving the way for enhanced electrical safety and insurance compliance in Nigeria.
NEMSA is established by the NEMSA Act 2015 ( now the Electricity Act 2023) to carry out the Enforcement of Technical Standards and Regulations, Technical Inspection, Testing and Certification of all categories of Electrical Installations, Electricity Meters and Instruments to ensure efficient production and delivery of safe, reliable and sustainable electricity power supply and guarantee safety of lives and property in the Nigerian Electricity Supply Industry and other allied industries, workplaces and premises.
The priority of the agency is to have electricity networks that are stable, safe, and reliable. Through close collaboration with partners, NEMSA says it strives to ensure zero incidence of electrical accidents, energy accountability, eliminate substandard electrical equipment and materials and rid the system of quack electrical installation personnel and contractors.
