The National Insurance Commission has unveiled revised regulations on the insurance of leased and financed aircraft in Nigeria, in an effort to boost investor confidence and improve the ease of doing business.

The unveiling ceremony took place at the office of the Minister of Aviation and Aerospace Development in Abuja, highlighting a framework for collaboration between NAICOM, the Ministry of Aviation, and key industry stakeholders aimed at strengthening the aviation and insurance sectors. According to Insurance Commissioner Olusegun Omosehin, the revised regulations are an important step in air insurance reform. According to him, the new framework introduces certainty, predictability and market stability while aligning Nigeria's aviation insurance standards with global best practices. Omosehin said that “this is a transformative regulation that strengthens the capacity of the insurance sector and sends a clear signal to the global aviation market that Nigeria is committed to meeting international standards