Lagos State Government introduces the Lagos State Building Insurance Scheme (LAGBIS), making building insurance compulsory for construction projects in the state. The government says the scheme is designed to protect lives and property while improving safety standards across the construction sector. According to reports, the initiative also aims to ensure greater accountability among stakeholders involved in building activities. Vanguard and Punch both frame the move as part of Lagos’s broader effort to align development with safety requirements, suggesting that risks should be covered through mandatory insurance rather than left to residents or affected parties. The reports do not provide details on implementation timelines, coverage limits, or enforcement mechanisms, but they consistently state that the insurance requirement applies to buildings in Lagos and is intended to strengthen protections for people and assets. Overall, both outlets present LAGBIS as a regulatory step that seeks to reduce harm and improve responsibility in construction.