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Asian markets started the week on a mixed note Monday as traders weighed Chinese central bank interest rate cuts aimed at reigniting the world’s number two economy. Meanwhile, gold hit a record high on geopolitical concerns. Another record day on Wall Street on Friday could not inspire a similar rally at the start of the
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Any construction above two floors in Ogun State must obtain an All Risk Insurance Policy Certificate. This is in line with the provisions of the Ogun State Building Production Management Authority Regulation (OGBPMA) 2022. The Commissioner for Physical Planning and Urban Development, Olatunji Odunlami, stated this at a stakeholders’ meeting held at the Olusegun Osoba
Buildings above two floors in Ogun to carry insurance certificate – Govt
Any construction above two floors in Ogun State must obtain an All Risk Insurance Policy Certificate.
This is in line with the provisions of the Ogun State Building Production Management Authority Regulation (OGBPMA) 2022.
The Commissioner for Physical Planning and Urban Development, Olatunji Odunlami, stated this at a stakeholders’ meeting held at the Olusegun Osoba Press Centre, Oke-Mosan, Abeokuta, on Wednesday.
Odunlami called on insurance companies to serve as watchdogs in the drive to enforce the provisions of the law.
According to him, the All Risk Insurance Policy should be maintained by the contractor or developer and will cover both human and material assets during the entire construction period, ensuring that persons engaged to work on site or who have lawful access to be on site, as well as building materials and other equipment, are protected against any form of injury, loss, or damage.
“The coverage extends to innocent passers-by and their property, as well as adjacent properties, humans, and animals domiciled in them,” the commissioner said.
Additionally, property owners and subsequent occupiers are also required to obtain a Building Insurance Policy to cover the building itself against fire outbreaks, damage, collapse, and other unforeseen circumstances.
The commissioner reiterated the present administration’s commitment to enhancing public safety and reducing construction site accidents.
He further disclosed that the protection of investors and developers from financial losses, the promotion of a culture of risk management and responsibility, as well as supporting the growth of a resilient and sustainable building and construction industry in the state, is their target.
Earlier in his address, the Permanent Secretary, Engr. Sakirudeen Salaam, stated that the consultative meeting was held to publicize the provisions of the principal law and the five regulations that guide the activities of the ministry and its agencies, so that relevant stakeholders can collaborate with the government to achieve orderliness in the physical planning of the state.
Speaking on behalf of the insurance companies, one of the underwriters, Mr. Yomi Babalola appreciated the state government for showing the willingness to work with their sector to mitigate risk and protect the public from unforeseen circumstances, promising their full cooperation in achieving the provisions of the law.
Buildings above two floors in Ogun to carry insurance certificate – Govt
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With only 48 hours left before the Edo State governorship election, the Nigeria Police have reaffirmed their commitment to professionalism and impartiality in their duties. The Peoples Democratic Party has frequently claimed that the Nigeria Police are colluding with the All Progressives Congress to rig the election scheduled for September 21st. During an appearance on
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