The Lagos State Government has launched the Lagos State Building Insurance Scheme (LAGBIS) to enforce compulsory building insurance and improve the safety of lives and property across the state.
Governor Babajide Sanwo Olu, represented by the Deputy Chief of Staff, Sam Egube, unveiled the initiative on Friday, July 24, 2026, describing it as a major step towards strengthening building safety, promoting accountability in the construction sector and positioning Lagos as a safer and more globally competitive city.
He said the scheme was introduced to ensure that the state’s rapid physical development is matched by adequate safety measures.
“What we are launching today is not just a scheme. We are strengthening an institution that will deepen confidence in Lagos as a safe, responsible and globally competitive city.
“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 those structures are meant to serve,” he said.
Sanwo Olu disclosed that Lagos recorded 171 building collapses between 2011 and 2025, accounting for more than half of all such incidents reported nationwide. He added that six building collapses recorded in the first half of 2025 claimed 14 lives.
According to the governor, the recurring incidents have resulted in loss of lives, financial hardship for businesses, diminished public confidence and emotional trauma for affected families.
He stressed that preventing disasters is less costly than recovering from them.
The governor said the Lagos State Building Control Agency (LASBCA) had strengthened regulatory oversight through expanded inspections, improved enforcement and stricter compliance with building regulations.
He revealed that the agency had identified more than 27,000 distressed buildings and demolished 349 dangerous structures before they collapsed.
Sanwo Olu said the newly launched LAGBIS would provide a technology driven framework to ensure eligible buildings are adequately insured against insurable risks while protecting property owners, occupants and construction workers.
He noted that although compulsory building insurance is already provided for under the Insurance Act and reinforced by Lagos State building regulations, compliance has remained inconsistent.
The governor said the state government would intensify enforcement to ensure wider compliance with the law and called on licensed insurance companies to partner with the government to guarantee the scheme’s success.
Earlier, the General Manager of LASBCA, Florence Gbaye, described LAGBIS as a landmark initiative that reflects the government’s commitment to safer buildings, stronger regulatory compliance and a more resilient built environment.
She said the scheme represents a deliberate shift towards a sustainable and globally aligned approach to building management and risk mitigation.
According to Gbaye, all buildings covered under the scheme will be identified and notified by LASBCA, while LAGBIS will be integrated into the state’s Electronic Physical Planning Permit Processing System to simplify compliance and enhance transparency, accessibility and accountability.
She added that the insurance framework would reduce the government’s financial burden during emergencies while enabling faster recovery and reconstruction for affected businesses, families and communities.
Gbaye urged property owners and developers to embrace the scheme, describing it as both a legal requirement and a demonstration of responsible property ownership and sound financial planning.
