Federal Fire Service Mandates Fire Insurance for All Real Estate Properties in Nigeria
- The Federal Fire Service has announced that it will be including fire insurance policies in its checklist
- According to the Service, this directive covers public and private buildings, as well as properties still under construction
- The NAICOM and Federal Fire Service also agreed on several other measures to increase insurance adoption among property owners and developers
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Legit.ng journalist Ruth Okwumbu-Imafidon has over a decade of experience in business reporting across digital and mainstream media.
Nigeria’s Federal Fire Service has announced that fire insurance policy will now be on its buildings checklist.
This is part of the resolutions reached at a recent meeting between the National Insurance Commission (NAICOM) and the Federal Fire Service, held at the NAICOM Headquarters.
The meeting between the two bodies was to review issues affecting their collaborative operations and strengthen their partnership, and was presided over by Mr. Ekerete Ola Gam-Ikon, the Deputy Commissioner for Finance and Administration.
Source: Getty Images
NAICOM said in its statement that, in addition to the latest agreement to integrate fire insurance policy into buildings checklist, it will promote insurance adoption and boost compliance levels in Nigeria.
Fire insurance policy for all properties
This new directive, according to the PUNCH, will cover public buildings as well as buildings under construction, and this type of insurance provides coverage for the owners in the event of a fire outbreak on the property.
As a core committee member on the insurance of public buildings and buildings under construction, the Federal Fire Service is well-positioned to execute and enforce this directive.
This is even more important now, given the onset of the dry season when fire outbreaks are more common.
Several fire outbreaks have been recorded across Nigeria only within the first two weeks of 2025, including the Cross River High Court Building, Ogoja; the Ogoja Local Government central market, Ishibori; and the Federal Institute of Industrial Research, Oshodi, Lagos state.
These outbreaks have led to losses in hundreds of millions of naira.
On the global scene is the Los Angeles fires, where losses are already being counted in hundreds of billions of dollars.
More gains for Nigerians
NAICOM, in its statement, noted that the partnership between both bodies would be mutually beneficial and would bring great gains to the consumers.
It said;
“The partnership is expected to have far-reaching benefits, including improved settlement for beneficiaries of building collapse victims, mitigation of potential risks, protection of investments, and promotion of economic growth.”
Mr. Gam-Ikon emphasized the need for continued collaboration between the Federal Fire Service and NAICOM to promote the insurance environment in Nigeria.
Key among the agreements reached by both bodies is the decision to improve insurance adoption among property owners and developers in Nigeria.
The NAICOM and Federal Fire Service representatives also decided to take more proactive measures to minimize risks and hazards like building collapses in the Nigerian real estate industry while contributing to economic growth in Nigeria through job creation, increased investments and financial stability.
Federal Fire Service recruits more hands
Legit.ng recently reported that the Federal Fire Service is rounding up its recruitment process, and has released the list of successful applicants.
The successful candidates were asked to proceed to the next stage of the process for physical screening at the office locations.
This recruitment exercise will see hundreds of young Nigerians employed in the federal fire service in several locations across the country.
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Source: Legit.ng
