Lagos introduces compulsory building insurance to boost safety

Lagos State has introduced the Lagos State Building Insurance Scheme (LAGBIS) to mandate building insurance, aiming to bolster safety and safeguard lives and property. Governor Babajide Sanwo-Olu, represented by Deputy Chief of Staff Sam Egube, stated that "Growth without safety is not progress, and development without accountability is not sustainable."

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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.

The scheme addresses the alarming rate of building collapses in Lagos, with the state recording 171 such incidents between 2011 and 2025, accounting for over half of the national total. In the first half of 2025 alone, six collapses claimed 14 lives, causing financial hardship, diminished public confidence, and emotional trauma.

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Growth without safety is not progress, and development without accountability is not sustainable.

Governor Sanwo-Olu emphasized that preventing disasters is more cost-effective than recovering from them. The government has strengthened regulatory oversight through the Lagos State Building Control Agency (LASBCA), increasing inspections and enforcement. LASBCA has identified over 27,000 distressed buildings and removed 349 dangerous structures.

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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.

LAGBIS will utilize a technology-driven framework to ensure eligible buildings are insured against risks, protecting property owners, occupants, and construction workers. While compulsory building insurance is already mandated by law, compliance has been inconsistent. The government plans to intensify enforcement to ensure wider adherence.

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Preventing disasters will always cost less than recovering from them.