Over 70% of Nigerian cars uninsured

The Nigerian Insurance Industry Database (NIID) reports that only 28.3% of Nigerian cars are covered by motor insurance.

Two situations arise for the remaining 71.7% of car:

• Vehicle owners have no motor insurance policy
• The insured are covered by fake insurance contracts

The Nigerian Insurance Association (NIA) is jointly working with the government to implement a genuine mandatory third party liability coverage and a system to monitor the authenticity of insurance certificates.