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Lagos Govt. introduces new insurance policy for buildings above 2-storey


As part of its commitment to enusure safe enviroment and curb incidence of building collapse in Lagos, the State Government has introduced new insurance policy for buildings above two storey across the state, a development aimed at protecting lives and proterties in the state.

It explained that the need to secure the built environment and achieve an orderly, organized, livable and sustainable state necessitated the new insurance policy, adding that the Governor Babajide Sanwo-Olu-led administration would stop at noting in protetcing residents across the state.

The Commissioner for Physical Planning and Urban Development, Dr. Idris Salako, said that the policy was to ensure successful implementation of the Regional Planning and Development Law 2019(Ammendment) which stipulates that owners, developers of buildings above 2 floors present their certificates of insurance for proper records and certifications.

Speaking when he met with the Lagos State Building Control Agency and officials of the Nigerian Insurance Association at the conference room of the Ministry of Physical Planning and Urban Development, Alausa Ikeja recently, Salako noted that the new law had become necessary in order to safeguard lives and property while also maintaining a better environment for all Lagosians.

Furthermore, he enjoined the stakeholders to explore ingenious ideas that would ensure the success of its implementation through meaningful engagement with members of the public and sensitization on the importance of the newly introduced policy.

Also speaking, the Special Adviser to the Governor on Urban Development, Ganiyu Ayuba, advised the association and other stakeholders to seek ways of ensuring that the building public have confidence in them by embarking on various enlightenment and advocacy programs that would keep Lagosians abreast of the products they are offering.

On her part, LABSCA’s General Manager, Engr. Biola Kosegbe, implored members of the association and other stakeholders to deploy technology that would smoothen the process, secure and easily accessible by both agency, prospective owners and developers.

While appreciating the Lagos State Building Control Agency for facilitating the meeting, the Director General of the association,  Yetunde Ilori, assured that adequate checks would be put in place to keep all players in line so as to achieve a seamless and successful take off Insurance laws in the state.

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