Motor Insurance Key to Safer Roads, Says NIA DG Bola Odukale on Lagos Traffic Radio

Director-General, the Nigerian Insurers Association (NIA), Mrs. Bola Odukale

Motor insurance plays a critical role in safeguarding Nigeria’s roads and protecting motorists and road users from financial losses in the event of accidents, the Director-General of the Nigerian Insurers Association (NIA), Mrs. Bola Odukale, has said.

Speaking on the Insurance Digest programme on Lagos Traffic Radio 96.1 FM on Tuesday, July 8, 2025, Mrs. Odukale highlighted the growing awareness of motor insurance among Nigerians but noted that much work remains in embedding it as part of the country’s road safety culture.

The episode opened with a street interview montage recorded in Ikeja, Lagos, where several motorists confirmed they held valid third-party insurance policies. However, most admitted they had never filed a claim.
“Yes, I do. Third party,” one driver said when asked about his insurance status. When asked if he had made any claims before, he replied, “No, I haven’t made any claim.”

In response, the interviewer educated them on how to verify their policy’s authenticity using the Nigerian Insurance Industry Database (NIID) via USSD code *565*11#. Some drivers expressed surprise, promising to try the verification method when next they renew their policies.

Industry’s Reaction to Street-Level Insights

Reacting to the street responses, Mrs. Odukale said the feedback was encouraging.
“It’s cheering to hear that many car owners have at least a third-party motor insurance. This shows growing public understanding of the importance of insurance as part of road safety. We are not there yet, but we are making steady progress,” she said.

She stressed that third-party insurance, though the minimum legal requirement, plays a vital role in compensating for damages caused to third parties in the event of an accident.

Reinvigorating the Public Awareness Campaign

NIA DG explained that the NIA’s renewed campaign is aimed at deepening public understanding of insurance, clearing misconceptions, and increasing product uptake.
“This programme is about educating the public on insurance benefits, clearing doubts, and addressing misconceptions. Insurance is for everybody—it provides financial protection and peace of mind,” she noted.

The Nigerian Insurers Association, she said, represents all licensed insurance and reinsurance companies in Nigeria. The association’s mandate includes promoting industry best practices, advocating for sound policies, and protecting the interests of policyholders and insurers alike.

Beyond Compliance to Conscious Safety

Mrs. Odukale urged Nigerians to go beyond merely complying with the law and instead embrace insurance as a personal responsibility that enhances road safety for all.
“We want Nigerians to see insurance not as an expense, but as an investment in safety and protection—both for themselves and other road users,” she said.

She encouraged motorists to verify the authenticity of their insurance policies using the NIID verification code and report suspected fake insurance documents.

Looking Ahead

As public-private partnerships grow stronger and awareness spreads through programmes like Insurance Digest, industry stakeholders are optimistic that Nigeria’s road safety culture will continue to improve.

With increased insurance penetration and better claims processes, experts say, Nigeria can significantly reduce the financial and emotional burden of road accidents on its citizens.

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