A call to embrace and enforce compulsory building insurance scheme across the states in the federation has been placed, pointing other states to the direction of Lagos State Government which launched its building insurance scheme on Friday 24th July 2026; which has been described as a new way of protecting lives, property and the future of Lagos State.
The Chairman of the Nigerian Insurers Association NIA, Mrs. Ebelechukwu Nwachukwu, at the launch said what Lagos has done is a model worth replicating across the federation. She hinged the call on this, “The challenges of fire, flooding and building collapse are not unique to Lagos. The Nigerian Insurers Association stands ready to work with other state governments to support practical initiatives that improve compliance, strengthen resilience and expand access to insurance protection.”
Mrs Nwachukwu who said the commitment of NIA is firm, pledged to work closely with government agencies and regulators. “We will promote public awareness of the value of insurance and continue to champion an insurance industry that is professional, trusted and responsive.”
Still harping on how the industry should respond to the launch in lagos and elsewhere with the Executive arm leading the band, she said, “this represents an opportunity and a responsibility. An opportunity to extend protection to more Nigerians. A responsibility to deliver professional service, fair underwriting and prompt claims settlement.”
Looking at the bigger picture, said, “This scheme is not only good for Lagos. It is good for Nigeria. It demonstrates that compulsory insurance, when supported by strong institutions, effective technology and stakeholder collaboration, can simultaneously protect citizens, strengthen public confidence and deepen insurance penetration.”
