Thursday, May 1, 2025
26.2 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
spot_img

Hot this week

emPLE Unveils BETA Life: A Three-in-One Endowment Plan for Smarter Savings and Protection

emPLE Life Assurance Limited has announced the launch of...

STI CEO, Soyinka, Lauds Nigerian Workers on May Day

As the world marks this year’s edition of Workers’...

NGX Group, Min of Industry, Trade and Investment, Collaborate to Advance Economic Transformation

Nigerian Exchange Group Plc (NGX Group) recently hosted the...

Inspenonline Summit to Stimulate Interest for Good Retirement

The 2025 Inspenonline Retirement Summit is aimed at stimulating...

Banks, Telecoms, Mobility Brands Dominate Q1 2025 Media Performance Charts

Following the Central Bank of Nigeria’s directive to harmonize...

Topics

FG Lauds Savannah Energy for Investment Drive in Nigeria

L-R: Managing Director, Savannah, Nigeria, Pade Durotoye; Honourable Minister...

NDIC: Developing Human Capital for Risk-based Supervision

The Nigeria Deposit Insurance Corporation (NDIC) in collaboration with...

‘SMEs Must Reinvent to Remain Competitive’ – Heritage Bank CEO, Sekibo

  Mr. Ifie Sekibo Managing Director/CEO Heritage Bank Limited Mr. Ifie Sekibo, Managing...

Ecobank Wins CBN/NIBSS Award for Data Integrity

Left: Deputy Governor,  Financial Systems Stability, CBN,  Mrs. Aishah...

Nigeria in Top 5 Most Attractive African Countries for Global Investors

In Africa, the five most attractive nations for international...

NIA Breaks Ground for Building Project

The Nigerian Insurers Association (NIA), the umbrella body of...

‘Africa Has GDP of $3.4 tr,1bn Population’

Equatorial Guinea will host the African Development Bank’s next...

Financial Services Innovators Marks 5th Anniversary of Driving Innovation in Tech Ecosystem

  Today, we proudly celebrate five incredible years of driving...
spot_img

Related Articles

Popular Categories

spot_imgspot_img