Ebere Nwoji
Motor vehicle users in Nigeria will have to pay more on the compulsory motor third party insurance policy as the National Insurance Commission (NAICOM) and insurance operators have decided to review upward the current N5,000 premium paid by motorists to obtain third party insurance.
The stakeholders took the decision at a recent meeting in Lagos.
The Chairperson, Publicity Committee of the Insurers’ Committee, Mrs. Ebelechukwu Nwachukwu, who disclosed this while briefing journalists on the outcome of the committee’s first meeting after the COVID -19 lockdown, said the committee has set up a body to discuss with operators and come up with a new rate to be paid by motorists on the policy.
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