Benin Tanker Blast: NIA Pledges Prompt Claims Settlement, Urges Enforcement of Compulsory Insurance

By LOVETH-AZODO CHIJIOKE, Lagos

The Nigerian Insurers Association (NIA) has assured victims of Thursday’s fuel tanker explosion along the Benin–Lagos expressway in Edo State that member underwriting firms are positioned to liquidate all legitimate claims arising from the catastrophe.

The disaster occurred at Oluku in Ovia North-East Local Government Area, claiming several lives, leaving scores injured, and levelling dozens of commercial premises, vehicles, and retail inventories.

In a statement issued Friday, the Chairman of the NIA, Mrs. Ebelechukwu Nwachukwu, extended the governing council’s condolences to the Edo State Government and affected families, describing the incident as an acute economic setback for the impacted commercial hub.

Nwachukwu urged insured business operators and motorists affected by the blast to initiate prompt claims notification procedures with their respective insurers alongside relevant loss documentation to fast-track assessments and payment.

“The Nigerian insurance industry stands ready to fulfil its obligations to policyholders affected by this unfortunate incident. Our member companies remain committed to prompt, fair, and professional settlement of all valid claims to support recovery efforts,” Nwachukwu stated.

Addressing the broader systemic risks surrounding petroleum haulage, the NIA chief cautioned motorists against fuel scooping and stressed the need for strict adherence to transit safety protocols, routine fleet maintenance, and regulatory oversight of heavy-duty petroleum haulage trucks.

Nwachukwu also renewed the umbrella body’s appeal to federal and sub-national authorities to institutionalise insurance cover across critical public infrastructure and enforce statutory compliance under the Nigerian Insurance Industry Reform Act (NIIRA) 2025.

She maintained that rigorous enforcement of compulsory insurances particularly for public and commercial buildings remains an indispensable fiscal buffer to insulate the broader economy and relieve governments of recurring disaster bailout costs.