REDAN President Warns Against Constructing Two-Storey Building Without Insurance
The President of the Real Estate Developers Association of Nigeria ( REDAN), Aliyu Oroji Wamakko has warned members against embarking on the construction of buildings without having insurance licences.
He stated this during an interview with our correspondent at the weekend while speaking about the rate of building collapse or failure in the country.
The President said “The need for collaborative efforts with stakeholders in the housing development landscape is more than ever before to resolve the incidence of building collapse in the country.
He said 553 buildings had collapsed by April 2023, describing the situation as worrisome. “We have collective responsibilities to do something to extinguish this worrisome incidence of building collapse”, he said.
“We call on our members to comply with the provisions of the National Insurance Act 2023 wherein it provides that ‘ No person shall cause to construct any building of more than two-storeys without insuring with a registered insurer his liability in respect of construction risks caused by negligence of agent or consultant.
Wamakko stressed that every public building shall be insured with a registered insurer against the hazards of collapse, fire, earthquake, storm, and flood.
According to him, the Insurance Act clarifies that public buildings including a tenement house, hostel, educational and medical services structures, and for the purpose of recreation or business transactions must be properly insured.
The REDAN President stressed ” the Developers of our National Housing Development Flagship which entails building 100 housing units in each of the 774 Local Government Areas of the country under the aegis of Rural- Urban Housing Initiative (RUHI -774) in particular and other buildings undertaking by our members abide by the provisions of the insurance Act 2023.
He also advised Nigerians with the intention to build edifices to avoid engaging fake developers who are out to swindle them of their money.