Risk management professionals in Nigeria have called for stronger risk awareness, accountability and preventive controls to address avoidable losses, workplace accidents, regulatory breaches and financial mismanagement. The call was made at the 2026 National Risk Management Conference and Awards Ceremony organised by the Risk Managers Society of Nigeria, under the theme “Sustainable Technological Innovations and Risk Management for Resilient Economies.”
The experts argued that negligence, weak compliance cultures and disregard for professional standards are contributing to economic waste, infrastructure failures, corporate instability and loss of life and property.
A major focus of the conference was Nigeria’s recurring tanker fire disasters. Participants from the National Emergency Management Agency, Federal Fire Service, Federal Road Safety Corps and other organisations called for stronger enforcement, improved transparency and better monitoring of petroleum haulage operations.
Among the recommendations were a dedicated Petroleum Transport Safety Authority, an inter-agency tanker safety task force, stronger tanker licensing and inspection systems, mandatory roadworthiness certification and stricter penalties for safety violations.
The experts also proposed a national tanker operator registry containing safety records, inspection history, incident records and licensing information. Technology-enabled tracking, warning systems and emergency notification platforms were recommended to improve monitoring and response.
The conference also highlighted the need for stronger cyber resilience. Organisations were urged to conduct vulnerability assessments, threat monitoring and incident-response planning, while the insurance sector was encouraged to develop innovative cyber insurance and risk-financing solutions.
A broader message emerged from the discussions: risk management should move from a reactive compliance activity to a strategic governance function. Organisations were encouraged to integrate risk considerations into strategy, budgeting, investment decisions, infrastructure development and performance management.
The conference further emphasised professional development, data-driven decision-making, artificial intelligence, sustainable technology and enterprise-wide risk management as important components of resilient organisations.
The recommendations are particularly relevant for emerging economies where infrastructure, regulatory enforcement and institutional capacity can materially influence the severity of operational and systemic risks.
Want to deepen your expertise beyond today’s news?
Explore practical certification courses designed for banking, risk, insurance, compliance, ESG, AI, and emerging technologies professionals.
Learn from industry experts and earn certifications from RMAI and BFSI Sector Skill Council of India.
#Riskmanagementnews
