The Lagos State Government has introduced the Lagos State Building Insurance Scheme to enforce compulsory building insurance and protect lives and property.
The government said the scheme was introduced
because growth without safety is not progress.
Governor Babajide Sanwo-Olu, represented by the
Deputy Chief of Staff, Sam Egube, stated this at the unveiling of the scheme on
Friday in Lagos.
He said the initiative was aimed at strengthening
building safety, promoting accountability in the construction sector and
reinforcing Lagos’ position as a safe, responsible and globally competitive
city.
“What we are launching today is not just a scheme;
we are strengthening another institution that will deepen confidence in Lagos
as a safe, responsible and globally competitive city.
“Growth without safety is not progress, and
development without accountability is not sustainable.
“The true measure of development is not how much we
build, but how well we protect the lives that those structures are meant to
serve,” he said.
For detailed information on our editing services, please
see inside
The governor said the state had continued to
experience rapid physical development, driven by increasing investments in
residential, commercial and infrastructure projects.
He, however, stressed that every new building came
with a responsibility to ensure safety.
He disclosed that Lagos recorded 171 building
collapses between 2011 and 2025.
This, he said, accounted for more than half of such
incidents reported nationwide, while six building collapses recorded in the
first half of 2025 claimed 14 lives.
According to him, the incidents have resulted in
loss of lives, financial hardship for businesses, diminished public confidence
and emotional trauma for affected families.
“Preventing disasters will always cost less than
recovering from them,” he said.
Sanwo-Olu said the government had strengthened
regulatory oversight through the Lagos State Building Control Agency (LASBCA)
by expanding inspections, improving enforcement and insisting on greater
compliance with building regulations.
He said the agency had identified more than 27,000
distressed buildings and removed 349 dangerous structures before they could
collapse and claim lives.
The governor said the newly inaugurated LAGBIS
would provide a technology-driven framework.
He said the framework would ensure eligible
buildings were adequately insured against insurable risks while protecting
property owners, occupants and construction workers.
He said that although compulsory building insurance
was already provided for under the Insurance Act and reinforced by Lagos State
building regulations, compliance had remained inconsistent.
He said the government would intensify enforcement
to ensure wider compliance with the law.
Sanwo-Olu also called on licensed insurance
companies to partner with the government in ensuring the success of the
initiative.
According to him, such a partnership will
strengthen institutional confidence and promote responsible development across
the state.
“As we officially launch LAGBIS today, we are doing
more than introducing another public policy.
“We are laying an institutional foundation for the
future Lagos we all desire, where ambition is matched by responsibility,” he
said.
Earlier, the General Manager of LASBCA, Mrs
Florence Gbaye, described LAGBIS as a landmark initiative.
Gbaye said the initiative underscored the state
government’s commitment to safer buildings, stronger regulatory compliance and
a more resilient built environment.
She said the scheme represented a deliberate shift
towards a sustainable and globally aligned approach to building management and
risk mitigation.
“The initiative reflects the government’s resolve
to ensure that every building in Lagos is properly designed, constructed and
maintained.
“It also reflects the resolve to ensure buildings
are adequately protected against uncertainties and insurable risks,” she said.
Gbaye said LASBCA’s mandate extended beyond
enforcing building regulations to safeguarding lives, preserving investments
and promoting public confidence in the built environment.
She noted that under the scheme, all buildings
within the prescribed categories would be identified and notified by LASBCA.
She also said LAGBIS would be integrated into the
state’s Electronic Physical Planning Permit Processing System to simplify
compliance and promote transparency, accessibility and accountability.
She added that the insurance framework would
strengthen economic resilience by reducing the government’s financial burden
during emergencies.
“It will also enable faster recovery and
reconstruction for businesses, families and communities,” the general manager
said.
Gbaye urged property owners and developers to
embrace the scheme, describing it as not only a statutory requirement but also
a demonstration of responsible ownership and sound financial planning.
The News Agency of Nigeria (NAN) reports that
participants at the event included developers, engineers, and stakeholders in
the built environment and construction sector, as well as government officials.
0 Comments:
Post a Comment