FG considers mandatory travel insurance for short-stay visitors
The Federal Government is considering a mandatory travel insurance policy for individuals entering Nigeria on short-stay visas to cover repatriation costs. This initiative, discussed by the Minister of Interior, Dr. Olubunmi Tunji-Ojo, and the National Insurance Commission’s Commissioner, Mr. Olusegun Ayo Omosehin, aims to alleviate billions of naira in annual taxpayer expenses.
Officials stated that shifting such liabilities to insurance companies would improve national risk management and stimulate industry growth. The proposal also involves enhancing data verification systems with the National Identity Management Commission to reduce fraud. A technical working group will be formed to assess the policy’s feasibility and develop necessary support systems.
The Minister urged insurance operators to improve service quality and develop modern products, emphasizing that a robust insurance sector is essential for economic growth. The Commission reaffirmed its commitment to collaboration, financial stability, and expanding insurance coverage across the country.
