In a landmark move to strengthen Nigeria’s insurance sector, President Bola Ahmed Tinubu signed into law the Nigerian Insurance Industry Reform Act (NIIRA) 2025. This reform represents one of the most significant overhauls in recent years, aimed at repositioning insurance as a central pillar of economic stability, consumer protection, and sustainable development.
For businesses, property developers, landlords, and individuals, this Act brings both responsibilities and opportunities. At its core, NIIRA 2025 is about compliance, protection, and trust — and at Capital Express Indemnity Insurance Limited (CEIIL), we are here to help you navigate these changes seamlessly.
What the NIIRA Act 2025 Means for You
The NIIRA Act 2025 introduces sweeping changes designed to modernize the insurance industry and protect stakeholders across board. Some key highlights include:
- Compulsory Insurance for Public Buildings and Construction Projects:
From tenement houses, schools, and malls to hostels and office complexes, public buildings must now be insured against risks such as fire, collapse, flood, or storm. - Stronger Compliance and Enforcement:
The Act empowers regulators to ensure strict adherence, with penalties for defaulters. This means non-compliance is no longer an option. - Enhanced Consumer Protection:
Policyholders now have more confidence that claims will be honored and their interests safeguarded. - Boost for Builders Insurance:
Perhaps most significantly, the Act emphasizes Builders Liability Insurance as a mandatory requirement for developers and contractors — ensuring that lives and property are adequately protected during construction activities.
Why Builders Insurance Matters More Than Ever
Construction projects are high-risk ventures. Accidents, structural failures, and unforeseen events can lead to devastating losses. With NIIRA 2025, Builders Insurance is no longer optional — it is a legal and ethical responsibility.
This policy provides:
- Protection against risks of collapse during construction.
- Coverage for liabilities to third parties in case of injury or property damage.
- Compliance with regulatory requirements, avoiding penalties or project disruptions.
In short, Builders Insurance is your shield against the unexpected — ensuring projects are completed with peace of mind and in full compliance with the law.
Why Choose Capital Express Indemnity Insurance?
As the insurance landscape evolves, choosing the right partner becomes more critical than ever. Here’s why Capital Express Indemnity Insurance should be your first choice for General Insurance and Builders Insurance:
- Trusted Industry Expertise
With decades of experience in delivering reliable insurance solutions, we understand the complexities of Nigeria’s regulatory environment and construction industry. - Comprehensive General Insurance Portfolio
From Motor Insurance, Fire & Special Perils, Marine, Oil & Gas, and Public Liability to Travel Insurance and General Accident cover — we offer a wide range of policies tailored to your needs. - Builders Insurance Specialists
We provide bespoke Builders Insurance policies that ensure compliance with NIIRA 2025 while offering the highest level of protection for developers, contractors, and property investors. - Seamless Access & Easy Processes
Purchasing or renewing your policy is simple and stress-free. Just visit our website www.ceiil.com.ng, follow the guide, and get covered instantly. - Customer-Centric Approach
At Capital Express, we don’t just sell policies — we build lasting relationships. Our commitment is to protect what matters most to you, with honesty, transparency, and professionalism.
The Bottom Line
The NIIRA Act 2025 is a game changer, reshaping the future of insurance in Nigeria. Compliance is no longer negotiable, and protection is more vital than ever. Whether you’re a motorist, property owner, or developer, the time to act is now.
At Capital Express Indemnity Insurance, we remain your trusted partner — ensuring you stay compliant, protected, and ahead.
Visit us today at 17 Bishop Kale Close, off Kasumu Ekemode Street, Saka Tinubu, Victoria Island, Lagos
Call 07059770508 | Email info@ceiil.ng