State insures infrastructure for N133bn

Among the infrastructure insured is the Lekki-Ikoyi Link Bridge and other roads in the state.

Former Lagos State Governor, Babatunde Fashola

The Lagos State Government has insured some infrastructure in the state for N133 billion, an official has said.

This was disclosed by the Commissioner for Finance, Ayo Gbeleyi during a briefing on the financial activities of the state government in the past one year.

“Strategic assets such as bridges, drainage channels and roads are now specifically insured against natural disasters and terrorist attacks, amongst others,” he said.

“This action is for the benefit of the residents of Lagos State. This is under the special risk cover against disaster and terrorism. The premium is N247 million for the year and that insures an asset of about N133 billion of the state,” he added.

The Lekki-Ikoyi Link Bridge cost N29 billion to construct and was insured for N35 billion.

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