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Estate surveyors seek role in building insurance scheme

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• Gets 21-member presidential advisory committee

To de-risk the built environment sector, the Nigerian Institution of Estate Surveyors and Valuers (NIESV) has called on the Lagos State Government to involve its members in the mandatory building insurance scheme.

The Chairman, Lagos State Branch, Adedotun Bamigbola made the call when he led members of the executive on a visit to the State’s Commissioner for Physical Planning and Urban Development, Dr. Idris Salako.

Lagos State Urban and Regional Planning and Development Law (2019) amendments that was assented by Governor, Mr. Babajide Sanwo-Olu, specified compulsory insurance for buildings above two-floors, for both on-going construction and existing properties.

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Bamigbola said for adequate cover, government must ensure that valuation report by certified professional estate surveyors and valuers for insurance process is required so that risk elements in properties will be well covered in case of any eventualities such as fire, floods and building collapse.

He said the practitioners also want to understand the implementation process for the new law, stressing that for adequate cover, it should be noted that estate surveyors manage a lot of properties.

“We are talking to Nigerian Insurance Association (NIA), and have a collaborative approach. We have concluded that estate surveyors, NIA, and the government need to deliberate and fashion out how to adequately implement it, for a wide range cover”, he stated.

The Chairman commended government for signing the amended law, saying that it will improve the building industry. He charged authorities to review the state’s master plan regularly, involve estate surveyors and valuers in building adequate number of certified building inspectors for the sector, ensure that constructions are done to details, and prevent haphazard development in Lagos.

Receiving the team, the Commissioner, accompanied by other officials in the ministry, advised the practitioners to come up with detailed recommendations. He stated that the ministry welcomes suggestions on ways to ensure livable environment for the people.

Although, the recently amended law didn’t capture the need for more certified building inspectors in the state, however, he stated that a process could still be developed to make recommendations for them.

Salako lauded the institution and other professionals for being partners in the built environment, noting that estate surveyors’ contributions in different ministries in the state have been worthwhile.

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Speaking on the new law, the General Manager, Lagos State Building Control Agency, Abiola Kosegbe reiterated that the issue of insurance for properties, is categorized into existing, and ongoing developments, adding that the government is interested in existing buildings.

Kosegbe advised estate surveyors to work closely with the insurance companies to ensure that insurance exercise on buildings are not done haphazardly.

Meanwhile, the national body has consistuted a 21-member presidential advisory committee. According to a statement signed by the NIESV president, Sir Emmanuel Wike, the team will examine government policies in terms of assets valuation. The committee will also project how members will maximally benefit from such policies.

The committee to be chaired by Emmanuel Omuojine has 20 other members. Others are Chukwudi Stephen Ubosi (Alternate Chairman); Monday Ahiwe as Secretary; Adekunle Awolaja; Isah Jatto; Prof M. B. Nuhu; Offiong Ukpo; Adamu Kasimu; Samson Agbato; Imo Ekanem; Justine Okaro, and Adamu . Kasimu.

They include; Olugbenga Olaniyan; Prof. (Mrs) Iyenemi Kakulu; Mrs Juliet Uzo; Francis Okpaleke; Utchay Okorji; Dr. (Mrs) Uchechukwu Egwuatu; Jimmy Omotosho; Olufemi Akinlusi; Olufemi Oyedele; Tochukwu Ag, and Adejumoke Akure.

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