LASG Introduces Digital Building Insurance Platform to Boost Safety, Compliance

LASG Introduces Digital Building Insurance Platform to Boost Safety, Compliance
Set to to Sanction Uninsured Buildings
Begins Enforcement of Compulsory Insurance for Multi-Storey Buildings

The Lagos State Government has launched the Lagos Building Insurance Scheme (LAGBIS), a digital compliance and risk management initiative designed to protect building owners, occupants and third parties from financial losses arising from building collapse, fire, floods and other insurable risks.

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Eko Hot Blog reports that the scheme, unveiled in partnership with VEDA Technology, also marks the commencement of enforcement of compulsory insurance for buildings above one storey across the state.

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Speaking at the launch, Governor Babajide Sanwo-Olu, represented by his Deputy Chief of Staff, Sam Ebube, described the initiative as a major step towards strengthening public safety and making Lagos a more resilient and globally competitive city.

“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,” he said.

“Growth without safety is not progress, and development without accountability is not sustainable. 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 insurance scheme, which is being enforced by the Lagos State Building Control Agency (LASBCA), covers completed buildings as well as construction sites involving structures above one storey.

Chief Executive Officer of VEDA Technology, Bode Pedro, said the digital platform leverages address intelligence, cadastral mapping, satellite imagery and digital building records across Lagos’ 20 local government areas to simplify compliance with mandatory building insurance requirements.

According to him, the platform integrates the Nigerian Insurance Industry Database (NIID), LASBCA’s compliance framework and the Electronic Physical Planning Permit System (EPPPS), enabling near-instant policy issuance, verification and digital compliance monitoring.

LASG Introduces Digital Building Insurance Platform to Boost Safety, Compliance

Pedro disclosed that policies issued through the platform are currently underwritten by at least nine National Insurance Commission (NAICOM)-licensed insurance companies, with plans to expand participation to all licensed insurers before the end of 2026.

Also speaking, General Manager of LASBCA, Florence Gbaye, said the initiative reflects the government’s determination to ensure every building in Lagos is properly designed, constructed, maintained and adequately protected against unforeseen risks.

She noted that the agency’s responsibilities extend beyond enforcing building regulations to safeguarding lives, protecting investments and strengthening public confidence in the built environment.

The Special Adviser to the Governor on Urban Development, Olajide Babatunde, announced that the state government would begin strict enforcement of compulsory insurance for buildings above one storey.

He warned that commercial buildings, including hotels and banks operating without the required insurance cover, would face sanctions, including closure.