The Ogun State Government has announced that any building construction exceeding two floors must now obtain an All Risk Insurance Policy Certificate.
The Commissioner for Physical Planning and Urban Development, Olatunji Odunlami, made this known on Thursday during a stakeholders’ meeting in Abeokuta, the state capital. This directive aligns with the provisions of the Ogun State Building Production Management Authority Regulation (OGBPMA) 2022.
Odunlami explained that the All Risk Insurance Policy is mandatory for contractors or developers and will cover both human and material assets throughout the construction period. The goal is to protect workers on-site, individuals who have lawful access, and construction materials and equipment against injuries, losses, or damages.
“The coverage also extends to innocent passers-by and their properties, as well as adjacent buildings, the people living there, and animals,” he added.
Additionally, Odunlami highlighted that property owners and future occupiers must obtain a Building Insurance Policy to protect the building itself from fire outbreaks, damage, collapse, and other unforeseen events.
The Commissioner reiterated the commitment of Governor Dapo Abiodun’s administration to enhancing public safety and reducing accidents at construction sites. He also emphasized the government’s aim to shield investors and developers from financial losses, foster a culture of risk management and responsibility, and support the development of a resilient and sustainable construction industry in the state.
In his remarks, the Permanent Secretary of the Ministry, Engr. Sakirudeen Salaam noted that the consultative meeting aimed to raise awareness about the principal law and five regulations that guide the ministry and its agencies. This initiative seeks to promote collaboration between stakeholders and the government to ensure orderly physical planning across the state.
Yomi Babalola, who spoke on behalf of the insurance companies, commended the state government for its proactive approach to working with the insurance sector to mitigate risks and protect the public from unexpected situations.