Lagos Launches Building Insurance After 171 Collapses

After losing 14 lives to building collapses in just the first half of 2025, Lagos is taking bold steps to ensure growth never comes at the cost of safety again.

Governor Babajide Sanwo-Olu unveiled the Lagos State Building Insurance Scheme (LAGBIS) on Friday, marking a turning point for a city that has experienced 171 building collapses between 2011 and 2025. That staggering number represents more than half of all building collapses across Nigeria.

"Growth without safety is not progress," Sanwo-Olu told developers, engineers, and construction stakeholders at the launch. "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."

The new scheme makes building insurance compulsory for eligible structures across Lagos State. While insurance requirements already existed on paper under Nigerian law, compliance had been spotty at best. Now, the government is pairing legal requirements with technology to make following the rules easier and enforcement stronger.

LAGBIS will integrate directly into Lagos's Electronic Physical Planning Permit Processing System. Property owners will receive automatic notifications, making compliance as simple as a few clicks rather than a bureaucratic maze.

The initiative comes alongside aggressive safety enforcement. The Lagos State Building Control Agency has already identified more than 27,000 distressed buildings across the city and demolished 349 dangerous structures before they could claim lives.

The Ripple Effect

Beyond saving lives, the insurance framework promises to reshape Lagos's economic resilience. When disasters strike, recovery often falls entirely on government shoulders, draining resources that could fund schools, hospitals, and infrastructure.

With mandatory insurance, families and businesses can rebuild faster after emergencies. Communities won't wait months or years for government assistance. The scheme reduces financial burden while speeding up reconstruction, letting neighborhoods bounce back with dignity intact.

Florence Gbaye, general manager of the building control agency, sees the program as proof that ambition and responsibility can coexist. "We are laying an institutional foundation for the future Lagos we all desire," she said.

The move positions Lagos alongside global cities where building safety and insurance work hand in hand. For a megacity attracting billions in residential and commercial investment, strong protections build confidence among investors, residents, and the international community.

Property owners now have both motivation and support to embrace the change. Insurance companies are partnering with the government to make coverage accessible and affordable across different building types.

"Preventing disasters will always cost less than recovering from them," Sanwo-Olu reminded the crowd, capturing why this moment matters for every person who calls Lagos home.