Increase in vehicle insurance rates: NANS demands reversal, apology

The National Association of Nigerian Students (NANS) has demanded the immediate reversal of the increase in the premium rates for motor vehicle insurance by the National Insurance Commission (NAICOM).

NANS’ vice-president, national affairs, Victor Ezennagu, made the demand Tuesday via a press statement issued in Owerri, the Imo state capital, from his office which he signed.

The statement read in part, “After consultations with Nigerians on the implications of the rather heartless increment of premium rates for Motor Vehicle Insurance by the National Insurance Commission (NAICOM), the National Association of Nigerian Students (NANS) hereby demands the immediate reversal of this policy increment and an apology to Nigerians within seven days.

“This has become inevitable because of the hardships Nigerians are going through which have already been made worse by increment of premium motor (PMs), gas, kerosene, etc, which have negatively affected the standard of living of all Nigerians.

“After NAICOM has failed to explain to Nigerian students the reason behind their December 22, 2022, official release which its effect starts from January, 2023, NANS will mobilise Nigerians to say no to this increment nationwide.”

The students body noted that, “Nigerians have been reduced to sick people whom policy makers must suck their blood, milk them dry to feather the nest of their immediate household and those unborn. NANS appeals to Nigerians to await an invitation because this price increment is not reversed as it is not only wrongly timed, but has been rejected by suffering Nigerians who struggle day and night to make ends meet with little or nothing else to spare.”