The Lagos State Government, in partnership with VEDA Technology and key insurance stakeholders, has officially launched the Lagos Building Insurance Scheme (LAGBIS), Africa’s first fully digitised building insurance, compliance and risk management programme. The initiative is designed to improve public safety and protect lives, property and investments across the state, targeting 500,000 buildings in its first phase.
Background: Rising Fire Incidents and Property Losses
The scheme responds to a growing need for stronger building protection following a series of devastating fire incidents across Lagos. Notably, the Christmas Eve fire that engulfed the Great Nigeria Insurance Building on Martins Street, Lagos Island, destroyed hundreds of shops and goods worth billions of naira. According to official data, more than 1,685 fires were recorded across Lagos in the past year, with property losses estimated at ₦19.7 billion.
The LAGBIS Digital Platform
LAGBIS integrates four critical pillars—insurance, compliance, public education, and enforcement—into a single digital ecosystem. The platform, developed by VEDA Technology, leverages address intelligence, cadastral mapping, satellite imagery and digital building records across Lagos’ 20 local government areas. It connects 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. Every valid policy automatically generates an insurance compliance certificate verifiable by LASBCA during inspections.
During the pilot phase, nine NAICOM-licensed insurance companies are underwriting policies issued through the platform, with participation expected to expand to all licensed insurance companies before the end of 2026. The Lagos State Building Control Agency (LASBCA) oversees compliance and enforcement through a secure digital verification system.
Quotes from Officials
Speaking at the launch, the Deputy Chief of Staff to the Governor of Lagos State, Mr Sam Egube, who represented Governor Babajide Sanwo-Olu, described the initiative as a major institutional reform. “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.”
The Chief Executive Officer of VEDA Technology, Bode Pedro, highlighted the technology behind the platform. “What we have built is more than a technology platform. It is a digital ecosystem designed to make building insurance simpler, more transparent and accessible for every eligible building owner while strengthening public confidence in the insurance system.” Pedro also noted that “insurance is only valuable when valid claims are paid. The policy is the document. The claim is the promise.”
Implementation and Future Plans
The state aims to protect 500,000 buildings in the first phase, drawing on a digital database of approximately three million mapped buildings across Lagos State. The initiative supports Governor Sanwo-Olu’s THEMES agenda by protecting building owners, occupiers and third parties against risks including fire, building collapse and floods. Beyond compliance, sustained public education campaigns will ensure building owners and occupiers understand mandatory insurance requirements, available cover, and the claims process.
The launch brought together senior government officials, insurance regulators, traditional rulers, insurance industry leaders and stakeholders from across the built environment. Building owners, developers and other stakeholders can access the platform to obtain mandatory building insurance, verify policies and obtain Insurance Compliance Certificates.
