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Firm Unveils Insurance Cover for Tricycle Riders
By Adedapo Adesanya
To deepen insurance inclusion in the country, Universal Insurance Plc has unveiled a personal accident cover called Keke Pass to provide insurance cover for tricycle riders who are major key players in Nigeria’s transport system.
According to the underwriter, riders of the popular tricycle known as Keke can now pay as low as N2,600 get a personal accident cover.
KEKE PASS plan was uniquely designed to provide cover for personal accident to the insured rider. This policy also will be sold as an individual policy and as a group scheme to the riders.
The plan is a compensation plan for riders in case of an accident. The premium amount to pay depends on the type of plan they opt for.
It comes in four different plans which are: Jeje Cover, which can be subscribed to with N2,600 yearly premium and enables a rider to get paid up to N50,000 for Medical Expenses; N150,000 for Permanent Disability; N150,000 for Death N50,000 for Third Party Liability and N15,000 Repair assist (Owned damage).
Another plan is the Carry-Go Cover, which comes with an annual premium of N3,700 per annum and the rider is expected to get paid up to N75,000 for Medical Expenses, N200,000 for Permanent Disability; N200,000 for Death; N75,000 for Personal Liability and N20,000 RepairAssist (Owned damage).
The third package is the No-Shaking Cover, which is sold for N4,800 per annum and riders get N100,000 for Medical Expenses; N250,000 for Permanent Disability; N250,000 for Death; N100,000 for Personal Liability and N25,000 RepairAssist (Owned damage).
The last bouquet is the Confaam Cover, which attracts a payment of N6,000 per annum. The insured gets N100,000 for Medical Expenses; N250,000 for Permanent Disability; N250,000 for Death; N100,000 for Personal Liability; N25,000 RepairAssist (Owned damage); N60,000 for Passengers Medical Expenses (Limit per passenger N20,000).
Speaking on the product, the Managing Director/CEO of the firm, Mr Benedict Ujoatuonu, stated that Keke Pass targets the numerous tricycle riders in the country.
Speaking on the uniqueness of the product, he said, “usually in motor insurance policies we have centred only on taking care of the loss of the insured motor insurance vehicle on third party liabilities.
“But our Keke Pass is an innovative product that looks at the rider himself in making sure that adequate insurance is provided for the benefit of the rider in case he sustains injuries that require medical attention while he is riding temporarily or permanent disability as a result of the accident or in the unfortunate event of the death of the rider.”
According to him, whatever happens, while he is riding, is fully taken care of by Keke Pass.
Mr Ujoatuonu urged all riders to embrace the product that is meant to help them and encourage them in ensuring that they continue to ride and generate revenue and take care of the family knowing that if anything happens, Universal Insurance is behind them to ensure they get the required support.
He also called on the various tricycle associations to embrace the new products so that they can create benefits for their members which will in turn sustain their business.
Business Post had reported that Universal insurance was the first company that launched the first-ever insurance product called okada personal Assurance & Safety Scheme (Okada Pass) For okada riders.
With an asset base of over N11 billion, authorized, share capital of 16 billion units and N8 billion paid-up respectively, Universal Insurance Plc is a duly registered organisation licenced to underwrite General Insurance business.
The MD/CEO revealed that the company is now fully computerized to drive excellence in service delivery adding that they are widely known for providing peace of mind to their clients and enriching their quality of life through their partnership in the management of the risks they face.
By Modupe Gbadeyanka
A bill aimed at prohibiting hawking, trading or preaching inside commercial vehicles in Nigeria has been passed by the Senate.
The bill known as the Federal Road Safety Corps (Amendment) Bill, 2026, imposes fines between N50,000 and N100,000 for violations if assented to by the President.
The piece of legislation was passed by the red chamber of the National Assembly on Thursday and should later be transmitted to President Bola Tinubu for assent.
Members of the upper chamber of the parliament explained that the law was amended to discourage distractions in commercial vehicles and improve the safety of commuters.
In addition, motorists who fail to cooperate with officials of the Federal Road Safety Corps (FRSC) during roadside breath tests conducted on reasonable suspicion are liable to fines or imprisonment or both.
Lawmakers noted that this was to improve compliance with road safety regulations and reduce road crashes, as fines for driving under the influence of alcohol or intoxicating drugs were raised to N100,000 from N5,000, with the risk of spending two years behind bars.
It was also proposed that disobedience to traffic lights, road signs, pavement markings and other traffic control devices will now attract N100,000, while the fine for speed limit violations is now N100,000, with reckless driving now a fine of N100,000 or two years’ imprisonment.
By Dipo Olowookere
Residents and motorists plying the Aina Obembe Road in Baruwa, Ipaja, Lagos, may soon heave a sigh of relief as the excruciating traffic gridlock being experienced in the area both day and night may soon be a thing of the past.
This is because the chairman of Ayobo-Ipaja LCDA, Mr Lukmon Agbaje, has directed those involved in indiscriminate truck parking along the road to remove the heavy-duty vehicles within one week, threatening to invoke appropriate enforcement measures for noncompliance with this directive.
Speaking during a meeting on Wednesday with the management of SENA Company, which owns the affected trucks, as well as the leadership of Oluwadara CDA and other key stakeholders like the Lagos State Traffic Management Authority (LASTMA), at the council’s secretariat, Mr Agbaje frowned at the prolonged inconvenience suffered by the community, stressing that public roads must remain accessible and safe for all users.
He emphasised the need for a collaborative approach in resolving the issue without undermining legitimate business operations, noting that he’s focused on finding a lasting solution to the gridlock experienced between Oluwaga and Aina Obembe, where parked trucks have continued to obstruct traffic, disrupt business activities, and pose safety concerns for residents and motorists.
He tasked the firm and the CDA to jointly identify and implement alternative parking arrangements that would remove all trucks from the affected roads and restore the free flow of traffic.
He declared that, “The welfare of our people remains our highest priority. No individual or corporate organisation should obstruct public infrastructure or create avoidable hardship for residents. We must ensure that economic activities coexist with public safety, order, and convenience.”
The council chief reaffirmed his administration’s commitment to promoting orderly development, ensuring safe and accessible roads, improving traffic management, and creating an environment where businesses can thrive alongside the well-being of residents.
By Adedapo Adesanya
The federal government has cut import levies on new and used vehicles by as much as 10 per cent in a move aimed at reducing the cost of vehicle importation, even as it commenced the implementation of a new Green Tax surcharge.
According to an update issued by the Nigeria Customs Service (NCS) on Wednesday, the import levy on new vehicles has been reduced from 20 per cent to 10 per cent, while the levy on used vehicles has been slashed from 15 per cent to five per cent under the 2026 Fiscal Policy Measures, which took effect on July 1, 2026.
The customs said the policy is designed to ease the cost of vehicle imports while advancing the government’s environmental sustainability objectives through the newly introduced Green Tax.
The implementation also reduces the overall import duty on fully built passenger vehicles from 70 per cent to 40 per cent.
As part of the Green Tax framework, a new environmental surcharge of between two per cent and four per cent will apply to petrol-powered vehicles with engine capacities exceeding 2,000cc. However, mass transit buses, electric vehicles, and passenger cars with engines below 2,000cc are exempt from the surcharge.
Beyond the automobile sector, the fiscal measures also lower import duties on several essential goods. The duty on imported rice has been reduced from 70 per cent to 47.5 per cent, while crude palm oil now attracts a 28.75 per cent duty.
In addition, import duties on agricultural and manufacturing machinery have been completely removed to support local production, while Waste PET has been added to the export prohibition list to encourage domestic recycling.
