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Home Insurance & Pension Business

Experts call for investment in risk mgt. expertise amid emergency response woes

by Admin
January 21, 2026
in Insurance & Pension Business

Cynthia Ezekwe

With Nigeria facing an increasingly perilous landscape of safety and emergency response concerns, resulting in the tragic loss of life and property, industry experts have emphasised the vital need for investment in risk engineering expertise. This, they argue, will be instrumental in mitigating the devastating impact of potential risks on Nigerians and the country’s economy.

The recent spate of devastating incidents, such as the Dosumu market fire and the tragic loss of Nollywood actor and crew members in a tragic boat accident, underscore the immediate and pressing need for the government of Nigeria to prioritise investment in risk engineering mechanisms.

Time and again, the sad spectre of petrol tanker fires has cast a shadow over Nigeria, as these raging infernos have laid waste to homes, businesses, and innocent lives in their path. This pattern of destruction, while heartbreaking, serves as a siren call to the abysmal state of safety and emergency response infrastructure in Africa’s largest economy.

 

Jacob Adeosun, a risk engineer and industrial safety professional, took centre stage at the 2024 National Risk Management Conference held in Lagos under the auspices of the Risk Managers Society of Nigeria (RIMSON), to shine a harsh spotlight on the tragic and all-too-common occurrences of marine and market fire disasters that have scarred Nigeria’s recent history.

Speaking on the need to deploy risk engineering expertise in addressing safety and emergency response  in Nigeria, Adeosun said, “Complex technical challenges can only be conquered by applicable risk engineering expertise. Please note that risk engineering encompasses all relevant elements of safety, loss prevention, emergency response, design-installation-operation and management of facilities, infrastructures and assets, in compliance with all applicable international standards and deployment of all requisite insurance protections – traditional, modern and innovative packages applicable to all risks and cases.

“Above all, sincerity of purpose, undiluted commitment, unquestionable discipline and other related virtues are absolutely required to achieve commendable results in resolving preventable disasters in our public life,” he further explained.

The risk engineer noted that some of the safety and emergency response disasters in Nigeria are preventable with substantial reduction of incurred losses and casualties, if applicable risk engineering actions are taken, implemented, enforced and sustained.

He cited examples of  some types of commercial boat drivers who are safety-ignorant and non-compliant operators, noting that they should not be operating in the Nigerian waterways, as they do not comply with any of the most basic marine requirements. 

“With similar disasters occurring on a regular basis, there ought to be evidence  of punishment for negligent safety practices as a deterrent. If there is none, nothing will be learnt and worse disaster cases of similar cause will reoccur. I believe there are no problems without solutions. The recurrent disasters should not be left to continue,’’ Adeosun added.

The risk engineer urged safety personnel to  pursue emergency response holistically without leaving any room for gaps, explaining that emergency response comprises: preparedness, prevention, mitigation, response and recovery.

Speaking on the current state of insurance protection against disaster losses in Nigeria, Adeosun said, “There’s no insurance protection for most disaster losses in Nigeria, such as market fire outbreak, petroleum tanker explosions, boats capsizing, which occur frequently in Nigeria. The present state of Nigerian markets, conditions of local boats and some petroleum tankers may be unattractive to existing insurance. But these risks  must not be left uninsured.’’

In a plea to the nation’s policymakers and industry leaders, Adeosun asserted that investing in risk engineering and integrating its principles into safety and emergency response strategies is an essential move if Nigeria is to tackle the growing crisis of marine and market fire disasters head-on.

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