The National Insurance Commission (NAICOM) has reaffirmed its resolve to enforce compulsory insurance for public buildings and construction sites across the country.

This initiative is part of broader efforts to enhance safety standards, improve risk management, and ensure regulatory compliance within Nigeria’s construction and real estate sectors.

The commitment was made public during the fourth meeting of the Joint Committee on Insurance for Public Buildings and Buildings Under Construction, held on Wednesday in Abuja.

Chaired by Ekerete Gam-Ikon, the Deputy Commissioner for Insurance (Finance and Administration), the meeting convened key stakeholders from the insurance sector, fire services, quantity surveyors, and relevant regulatory agencies to assess progress and strategize on enforcement measures.

In his opening address, Ekerete Gam-Ikon welcomed newly inducted committee members representing the quantity surveying profession and shared updates on NAICOM’s ongoing enforcement strategy for compulsory building insurance.

According to him, “We have commenced enforcement with third-party motor insurance, and we are now extending our efforts to public buildings and buildings under construction.”

He stressed the need for synergy between relevant agencies to ensure full compliance. “This work cannot be done in isolation. The collaboration with agencies like Development Control is crucial if we want to see real impact,” he added

Other stakeholders, such as representatives from Nigerian insurance firms and the Federal Fire Service, emphasized the importance of thorough documentation, comprehensive risk assessments, and sufficient coverage as prerequisites for approving and issuing building insurance policies.

Gam-Ikon charged the Development Control unit to establish a comprehensive database of public buildings and ongoing construction projects. “Only buildings with approved documents should be insured. We must avoid a situation where buildings are insured without proper regulatory clearance,” he said.

Also speaking at the meeting, Talmiz Usman, Director of Legal Enforcement and Market Development at NAICOM, expressed appreciation to committee members for their active participation and continued support of the initiative.

He said, “Your continued involvement is key to achieving the commission’s objectives. We must work together to strengthen the enforcement of compulsory building insurance to safeguard lives, assets, and investments.”

The meeting ended with all stakeholders reaffirming their commitment to enhancing compliance, improving data sharing, and increasing public awareness about the legal obligations related to building insurance.