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Abule-Ado pipeline explosion reinforces the need for insurance

As a key oil and gas producing nation, Nigeria is replete with a wide range of complex infrastructure and vehicular assets that convey petroleum and natural gas products. They intertwine with normal vehicular movement on our roads, while underground pipelines weave through neighbourhoods that house residents and businesses.

The constant intersections and interactions with these high flammable assets and materials have resulted in disastrous outcomes, one time too many. They have become repeated decimals over the years, disrupting lives – children made orphans, families displaced, and people hit with permanent disabilities – and decimating properties worth millions of Naira.

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Between 2019 to 2020, the country has witnessed about 13 petroleum tankers and pipeline explosions across the country, which claimed about 150 lives and destroyed an inestimable number of properties.

The first half of 2019 witnessed four pipeline explosions in Bayelsa, Lagos, Gombe and Cross River resulting in 72 deaths and 37 injuries. In Bayelsa State alone, about 50 persons were unaccounted for in the devastating Nembe Kingdom pipeline explosion.

The second half of 2019 saw about seven pipeline and tanker explosions in Lagos, Benue, Bauchi, and Anambra, claiming 55 lives and 101 injuries. About 545 shops and 33 vehicles were destroyed in these incidents.

The first quarter of 2020 has already witnessed two pipeline explosions at Abule-Egba and Abule-Ado communities, both in Lagos. A total number of 21 deaths were recorded, while over 100 buildings and 11 trucks were destroyed. As the nerve centre of economic and industrial activities, it comes as no surprise that Lagos would account for 54% of these incidents.

These incidents do not only claim lives; they take away breadwinners, parents, businesses, entrepreneurs and even children. They bring with them devastating consequences; shelters, factories, vehicles and valuables that many have toiled and sweated to own reduced to ashes. They leave loved-ones empty and their lives and dreams in shambles. Studies indicate that children are likely to drop out of school following the death of a parent as financial wellbeing, as well as emotional and psychological trauma hamper their ability to learn like others.

They leave behind despondent entrepreneurs, struggling with the reality of starting afresh.

These tragedies remind us all of the need to prepare for unplanned eventualities. Who do you turn to in such circumstances for help? Relatives? The Government? The religious centres? Anonymous helpers? These are not institutions that are foolproof to provide succour during stressful moments. This is where insurance comes in.

It is moments like these that victims of these explosions who have life insurance policies, get due compensations to cushion the loss. It is during these trying moments that the demised who have put in place education insurance policies are assured that the desired education for their children will continue uninterrupted. Indeed, if any of the victims (the demised and the permanently injured) have insurance, they have better chances of pulling through this difficult time. If you lost a loved one or your property to the explosion, all you have to do is call your trusted insurance company, and they will take care of the financial burden this unfortunate event might have caused.

This is where Leadway Assurance, Nigeria’s leading and experienced insurer, with five decades of experience in these matters, comes to the rescue. They understand perfectly well how the aftermath of events like these can change an individual’s life completely and the need to provide succour in such moments.

With that in mind, they have designed various innovative insurance products that would cater to your risks, from Life to the General Insurance, providing financial protection for those you love and the things you have invested your earnings.

 

Wayne Gretzky said in one of his wise quotes “you miss 100% of the shots you don’t take”. So, act now and call our hotlines on 08088578050 or send an email to Lcs@leadway.com to know more about Leadway Assurance and its product offerings.

 

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