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Impact of New Insurance Laws for Buildings in Nigeria

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There are fears that property prices may be set to soar in parts on Nigeria as insurers make fresh moves to enforce an insurance law that makes it mandatory for property owners or contractors to insure buildings with more than two floors.

Stakeholders in the industry are of the opinion that the new implementation, though beneficial, may adversely affect construction costs, which generally tends to increase property prices.

For the latest on this issue, we join ABN’s Wole Famurewa in Lagos.





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