Joy Agwunobi
The National Insurance Commission (NAICOM) has reinforced its commitment to the strict enforcement of compulsory insurance for public buildings and construction sites across Nigeria, as part of a broader agenda to improve safety standards, manage risks, and ensure compliance with national insurance regulations within the country’s built environment.
This renewed commitment was underscored during the fourth meeting of the Joint Committee on Insurance for Public Buildings and Buildings Under Construction, which convened recently in Abuja. The session, chaired by Ekerete Ola Gam-Ikon, deputy commissioner for insurance (Finance and Administration) at NAICOM,brought together key stakeholders from diverse sectors, including the insurance industry, the federal fire service, the quantity surveying profession, and relevant regulatory agencies,
The committee meeting provided a platform to review the state of implementation of compulsory insurance laws and to design more effective strategies for enforcement across sectors. It also served as a forum to foster synergy among key players responsible for enforcing insurance provisions related to public infrastructure.
In his opening remarks,Ola Gam-Ikon highlighted the Commission’s strategic focus on deepening compliance through inter-agency collaboration. He welcomed new representatives from the quantity surveying profession to the committee and provided an overview of the Commission’s progressive enforcement agenda.
“We have already commenced enforcement with third-party motor insurance, and we are now expanding our efforts to include public buildings and structures under construction,” Gam-Ikon stated.
He stressed that meaningful progress would require the active collaboration of other regulatory institutions, citing Development Control as a critical partner. “This initiative cannot succeed in silos. Agencies like Development Control must work hand-in-hand with us if we aim to create a safer and more compliant built environment,” he said.
Participants at the meeting emphasised the necessity of comprehensive documentation and proper risk evaluation before insurance policies are issued for any building. Representatives from the Nigerian Insurers and the Federal Fire Service underscored the importance of ensuring that only projects with verified regulatory approvals are insured, thereby reducing the risk of under-insurance or fraudulent practices.
To support this goal, Gam-Ikon called on Development Control to spearhead the creation of a centralised database of public buildings and active construction sites across the country. “We need to ensure that no building is insured without passing through proper regulatory processes. Only structures with complete and approved documentation should be considered for insurance coverage,” he noted.
Also addressing the committee, Talmiz Usman, director of Legal Enforcement and Market Development at NAICOM, emphasised the vital role of stakeholder cooperation in achieving the Commission’s objectives. “Your continued engagement is indispensable. We must intensify our joint efforts to strengthen the enforcement of compulsory building insurance. Doing so will protect lives, safeguard assets, and secure investments across the nation,” he stated.
The meeting concluded with a collective resolve among stakeholders to enhance compliance through better data sharing, robust regulatory enforcement, and increased public awareness of the legal obligations surrounding building insurance in Nigeria.
