Sunday, September 28, 2025
27.2 C
Lagos

SAFER LAGOS INSURANCE: Lagos Partners NIA on Insurance of Public Buildings

KEYNOTE ADDRESS OF THE DIRECTOR GENERAL/CEO OF THE LAGOS STATE SAFETY COMMISSION ON THE EVENT OF THE STAKEHOLDERS MEETING ON THE DIGITAL IMPLEMENTATION AND THE ENFORCEMENT OF THE COMPULSORY INSURANCE ACT ON PUBLIC BUILDINGS IN LAGOS STATE HELD ON MONDAY 21ST MARCH, 2022 AT THE ADEYEMI BERO AUDITORIUM, THE SECRETARIAT, ALAUSA, IKEJA, LAGOS.

PROTOCOL

Good Morning

I welcome you all to this stakeholders’ meeting on the implementation of the Occupiers Liability Insurance otherwise known as Insurance of Public Buildings in Lagos State.

I appreciate your taking out the time to attend this engagement session which is being organized by the Safety Commission in conjunction with the Nigerian Insurers Association (NIA) aimed at remarkably changing the architecture of risk management and safety regulation concerning public buildings in the State.

Over the years, numerous accidents and incidents such as natural disasters, building collapses, fires, explosions have resulted in injuries, permanent disability, loss of lives and property without any recompense to those affected and or their loved ones. A recent case in point is the OPIC Plaza gas explosion in Ikeja with the attendant loss of lives and property.

To protect Nigerians and their businesses from vagaries in the event of unfortunate events and incidents leading to injury, property damage or death, the Federal Government through various Acts of parliament have over the years promulgated laws making seven (7) Insurance Policies compulsory across the Federation. 

However, due to several factors, some of these Compulsory Insurances Laws have not been fully implemented. As such, when dangerous occurrences and disasters happen, the citizenry look up to the government for compensation.

It is the determination of the present administration led by Mr Governor, Mr Babajide Olusola Sanwo-Olu to curb this trend, the reason for this very important relevant stakeholders’ engagement session. In focus here, today is the Compulsory Insurance Act in respect of existing public buildings. 

As the economic capital of Nigeria and indeed the sixth-largest economy in Africa, Lagos State has a good stock of public buildings such as schools, offices, hospitals, hotels, events centres, restaurants, cafes, lounges, bars, supermarkets, shopping malls, cinemas amongst others. 

Section 65 of the Insurance Act 2003 stipulates that all public buildings shall be adequately insured ostensibly to cushion the impact and reduce the burden and liabilities on property owners/government.

I, therefore, call on all of us to support this initiative to achieve the noble objectives for which the Compulsory Insurance Act on Public Buildings was enacted, by sharing ideas and experiences on how we can together realize its full implementation in Lagos State.

I believe that at the end of this stakeholder’s meeting, we will all be on the same page on how to ensure that public buildings in Lagos are safe, insured and better protected.

Thank you and God bless.

spot_img
spot_img

Hot this week

AIICO Deepens Bond with Retirees, Holds Annuity Forum in Lagos, PH

Mr. Gbenga Ilori, Head, Retail Business at AIICO, in...

Sovereign Trust Insurance Holds 30th AGM

L-R: Eric Balogun, Independent Director, Emi Faloughi, Director, Kayode Adigun,...

Unity Bank Shareholders Approve Merger with Providus Bank

  EGM: From left: Mr. Usman Abdulkadir, Executive Director, Risk...

NNPCL: Ogoni Re-entry is a Beacon of Reconciliation through Collaboration

The re-entry into Ogoniland marks a historic turning point...

NLNG, NCDMB Celebrate 122 Graduates of Train 7 HCD Training Program

NLNG in collaboration with the Nigerian Content Development and...

Topics

Linkage Assurance: N50.2bnTotal Assets, N16.3bn Gross Premium in 2023

Underwriting firm, Linkage Assurance Plc in the financial year...

NAICOM Seeks Kano State Support on Compulsory Insurance

The leadership of the National Insurance Commission (NAICOM) recently...

Linkage Assurance Staff, Coker Aderonke-Faidat is CIIN’s Ambassador 2023/24

  L-R: Mr. Edwin Igbiti, President, Chartered Insurance Institute of Nigeria (CIIN)...

Leadway Health, NUPENG Partner to Provide Comprehensive Health Insurance for 5,000 Tanker Drivers

  L-R: President, Nigerian Association of Road Transport Owners (NARTO),...

NNPC Set to Deliver Gas Revolution with OB3 Gas Pipeline Project

L-R: Mr. Barwa Mohammed; NNPC Limited's Executive Vice President,...

NNPC Moves to Revive Brass, Olokola LNG Projects

Minister of State for Petroleum Resources (Gas), Hon. Ekperikpe...

NCC Opens Public Enquiry on 3 Regulatory Instruments

By Aminu Maida EVC/CEO of NCC I welcome you all to...
spot_img

Related Articles

Popular Categories

spot_imgspot_img