From 1974 to 2025, Nigeria recorded no fewer than 600 building collapse incidents, according to the Building Collapse Prevention Guild (BCPG). Beyond the lives lost, these tragedies have left businesses ruined, while the economy has not been spared.
In two decades, an estimated $3.2 trillion worth of property has been lost to building collapse in the country. Lagos was once reported to have lost about N66.37 billion to collapsed buildings within 24 months.
In 2024, a 27-year-old factory worker in Ogun State was crushed to death by an engine roller after slipping on a machine. Such incidents are not uncommon in factories. In the same year, the Nigeria Social Insurance Trust Fund (NSITF) processed about 22,350 workplace compensation claims, paying N90 million to one injured worker, N76 million to the family of a deceased worker and N31 million in medical bills for another.
These are not isolated events. Experts say they are the visible consequences of safety compromises rooted in decisions taken much earlier in boardrooms, procurement offices and project planning rooms.
Across industries, companies are losing money in ways that often go unnoticed. This time around, not from inflation or foreign exchange pressures, but operational safety failures.
CEO of Safety Consultants and Solutions Providers Limited (SCSP), Antonia Beri noted many organizations have safety policies on paper, but weaknesses built into projects from planning through daily operations leave them vulnerable to disruptions, regulatory penalties and costly losses.
Read More: https://www.thisdaylive.com/2026/06/20/why-nigerian-businesses-fail-safety-audit/
