The insurance law changed in 2025, and most guides have not caught up
NIIRA 2025 repealed the Insurance Act 2003 and four other statutes, and took the compulsory insurance list from six classes to eleven.
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Notes on insurance in Nigeria
Plain explanations of how cover works here, what the law expects of a business, and what to check before you sign anything.
List of insurance brokers in Nigeria
There are 707 licensed insurance brokers in Nigeria. Where the official register lives, which firms have traded longest, and how to check one.
The insurances a Nigerian business is expected to hold
Nigerian law names eleven compulsory insurances, and the 2025 reform changed the list. What each one covers, who has to hold it, and what goes wrong.
Why marine cargo on Nigerian imports has to be insured locally
Marine cargo insurance is compulsory for Nigerian importers and has to sit with a local insurer. What section 82 requires, and where CIF catches people out.
Africa buys very little insurance, and Nigeria buys the least
Nigeria insures about 0.4 percent of its GDP against South Africa's 11.3 percent. A look at the numbers and the reasons people give for them.
