Saturday, April 25th 2026

Lagos Records ?19.52bn Economic Loss to Fire Incidents in 2024 – Sanwo-Olu


Lagos Records ?19.52bn Economic Loss to Fire Incidents in 2024 – Sanwo-Olu
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The Governor of Lagos State, Babajide Sanwo-Olu, has revealed that the state lost an estimated ?19.52 billion to fire incidents in 2024, warning that the persistent outbreaks pose a serious threat to lives, property, and economic stability.

Speaking on Tuesday at the Lagos State International Fire Safety Conference 2.0 in Victoria Island, themed “Leveraging Technology and Community Engagement to Prevent Fire”, Sanwo-Olu said the government was ramping up efforts to prevent future disasters.

The conference, organised by the Lagos State Fire and Rescue Service (LSFRS), brought together stakeholders to explore strategies for enhancing fire prevention and improving emergency response.

Innovations to Curb Fire Outbreaks
Sanwo-Olu disclosed that the state was adopting measures such as the Safety on the Move initiative to tackle frequent tanker fires, alongside intensive public sensitisation campaigns across markets, schools, factories, and residential areas.

“Our goal is to ensure every Lagos resident knows how to spot potential fire hazards, prevent fires, stay safe, and help others,” he said, urging residents to remain vigilant to early warning signs.

The governor commended LSFRS for responding to over 2,500 distress calls in 2023 and called for strengthening the Incident Command System, improving emergency response times, and investing in modern firefighting technologies.

He also emphasised the importance of prioritising fire detection, protection, and suppression systems alongside conventional equipment to control outbreaks at their earliest stage.

Commissioner, Fire Service Director Share Statistics
Commissioner for Special Duties and Inter-Governmental Relations, Olugbenga Oyerinde, reiterated the government’s commitment to reducing fire disasters, noting the need to “rejig strategies” in light of recurring incidents.

“Protecting our communities from fire outbreaks is a collective responsibility that we are all dedicated to,” he said.

Director of the LSFRS, Mrs. Margaret Adeseye, revealed that in 2024, property worth ?117.12 billion was saved from fire damage, while the estimated loss stood at ?19.52 billion.

She disclosed that 450 victims were rescued alive, 91 lives were lost, and 7,039 compliance certificates were issued. Out of 7,870 companies inspected, 831 failed to comply with the state’s fire safety code.

“In 2023, 2,573 fire incidents were recorded, but in 2024 we saw a significant drop to 1,952. Fire safety is not just about equipment; it’s about protecting lives and futures,” Adeseye stressed.

Economic Context
The figures come as Lagos continues to consolidate its position as one of Africa’s economic powerhouses. In January 2025, the state’s GDP reached $259 billion (PPP), making it the second-largest economy on the continent after Cairo, Egypt, according to the Lagos Economic Development Update (LEDU) 2025.

 

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