Lagos State Governor Babajide Sanwo-Olu has launched the Lagos State Building Insurance Scheme (LAGBIS), an initiative aimed at reducing the incidence of building collapse and protecting property owners, tenants and construction workers from the financial consequences of structural failures.
The scheme, introduced by the Lagos State Building Control Agency (LASBCA) in partnership with Veda Technology, is designed to promote safer building practices, strengthen regulatory compliance and provide financial protection in the event of building collapse.
Represented at the launch by his Deputy Chief of Staff, Mr. Sam Egube, Governor Sanwo-Olu described LAGBIS as the first initiative of its kind in Nigeria, saying it would transform the state’s building culture by placing greater emphasis on safety, accountability and risk management.
He noted that while Lagos has witnessed rapid infrastructural development in recent years, such growth must not come at the expense of human lives.
“This is the first of such initiatives in Nigeria. It is a scheme that will change the building culture of our people. The state has been experiencing remarkable infrastructural transformation, but growth without safety is not progress.
“When a building collapses, businesses suffer and there are financial consequences. LAGBIS will establish a framework that protects construction workers, tenants and property owners,” he said.
The governor urged residents to report distressed buildings and structural defects within their communities, assuring that the state government would intensify enforcement of the Insurance Act to improve compliance with compulsory building insurance requirements.
“We are laying the foundation for the future Lagos, a city where development never comes at the expense of human lives. LAGBIS will strengthen our building culture,” he added.
The Special Adviser to the Governor on e-GIS and Urban Development, Dr. Olajide Babatunde, said the state would commence strict enforcement of compulsory insurance for applicable buildings.
According to him, buildings above one storey, as well as commercial facilities such as hotels and filling stations that fail to obtain the required insurance cover, will face sanctions, including closure.
The General Manager of LASBCA, Florence Omolola Gbaye, said the scheme demonstrates the Lagos State Government’s commitment to promoting safer buildings, protecting investments and creating a more resilient built environment.
She explained that although building insurance has long been a statutory requirement before construction approval is granted, enforcement had remained weak until now.
Gbaye said LAGBIS was designed to simplify compliance while ensuring greater transparency, accessibility and accountability.
She disclosed that buildings covered under the scheme would be identified and monitored by LASBCA, adding that insured properties would enjoy faster recovery and reconstruction following any structural failure.
“Rather than relying solely on public intervention after unfortunate incidents, insured properties are better positioned for quicker recovery and reconstruction. This allows businesses to resume operations faster, families to recover more quickly, and communities to rebuild with greater confidence,” she said.
Gbaye urged property owners and developers to embrace the scheme not only as a legal obligation but also as a demonstration of responsible ownership and prudent financial planning.
She added that compliance with the insurance requirement would help safeguard lives, protect investments and contribute to a safer and more sustainable built environment across Lagos State.
