Business
Estate Valuer Harps On Building Insurance
An estate surveyor and valuer, and the senior partner of Nelson Thorpe Alonge, Mr. Thorpe Alonge, has urged owners or occupiers of public buildings to insure such buildings against loss to third parties, in accordance with section 65 of Insurace Act, 2003.
Mr. Alonge said the call had become necessary, considering the fact that public buildings could be affected by perils whose impact could cause financial losses to either the owners or occupiers of such buildings.
The estate professional made the remark while interacting with journalists recently, shortly after a seminar on real estate practice and the Nigerian property market in Lagos.
He said that the owners and occupiers of public buildings while insuring the risks of fire and special perils, should insist that their insurers include the risk of collapse.
According to him “The owner of any building under construction should ensure that the building is insured adequately through the purchase of contractors’ All Risk Insurance, with an extension of cover in line with the risk anticipated by section 64 of Insurance Act 2003.”
He further said “The owners of buildings that are let, rent or sub-let should personally insure such buildings so as to avoid the lack of cover through negligence of the tenant.”
“For big estate managers, it is advisable that they handle their insurance protections through the appointment of an insurance broker which will cost them almost nothing.”
Thorpe underscored the need to understand the intricacies of property valuation, adding that investors always want to know the monetary worth of a property to assist in their decision making process.
Business
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Business
Senate Orders NAFDAC To Ban Sachet Alcohol Production by December 2025 ………Lawmakers Warn of Health Crisis, Youth Addiction And Social Disorder From Cheap Liquor
The upper chamber’s resolution followed an exhaustive debate on a motion sponsored by Senator Asuquo Ekpenyong (Cross River South), during its sitting, last Thursday.
He warned that another extension would amount to a betrayal of public trust and a violation of Nigeria’s commitment to global health standards.
Ekpenyong said, “The harmful practice of putting alcohol in sachets makes it as easy to consume as sweets, even for children.
“It promotes addiction, impairs cognitive and psychomotor development and contributes to domestic violence, road accidents and other social vices.”
Senator Anthony Ani (Ebonyi South) said sachet-packaged alcohol had become a menace in communities and schools.
“These drinks are cheap, potent and easily accessible to minors. Every day we delay this ban, we endanger our children and destroy more futures,” he said.
Senate President, Godswill Akpabio, who presided over the session, ruled in favour of the motion after what he described as a “sober and urgent debate”.
Akpabio said “Any motion that concerns saving lives is urgent. If we don’t stop this extension, more Nigerians, especially the youth, will continue to be harmed. The Senate of the Federal Republic of Nigeria has spoken: by December 2025, sachet alcohol must become history.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
According to him, “This is not just about alcohol regulation. It is about safeguarding the mental and physical health of our people, protecting our children, and preserving the future of this nation.
“We cannot allow sachet alcohol to keep destroying lives under the guise of business.”
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