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Nairametrics
Home Business News

Lagos lost N19.52 billion to fire in 2024 – Sanwo-Olu 

Olalekan Adigun by Olalekan Adigun
August 12, 2025
in Business News, Economy
Governor Sanwo-Olu to be honoured at Nairametrics Capital Market Awards for positioning Lagos as West Africa’s financial hub 

Governor of Lagos State, Mr. Babajide Sanwo-Olu,

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Governor of Lagos state, Babajide Sanwo-Olu, has disclosed that the state suffered an estimated economic loss of N19.52 billion to fire incidents in 2024, describing the recurrent menace as a serious threat to lives, property, and economic stability.

Sanwo-Olu made this known on Tuesday at the Lagos State International Fire Safety Conference 2.0 in Victoria Island, with the theme, “Leveraging Technology and Community Engagement to Prevent Fire”, News Agency of Nigeria (NAN) reports.

The conference, organised by the Lagos State Fire and Rescue Service (LSFRS), served as a platform for stakeholders to explore strategies for fire prevention and improved emergency response.

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The governor said the state was adopting innovations such as the “Safety on the Move” initiative to address frequent tanker fires, while intensifying public sensitisation through market, school, factory, and residential visits.

“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 the public to be alert to early signs of fire risks.

Sanwo-Olu commended LSFRS for responding to over 2,500 distress calls in 2023 and urged stakeholders to strengthen the Incident Command System, improve emergency response, and explore modern firefighting technologies.

He further advised prioritising fire detection, protection, and suppression systems alongside conventional equipment to control outbreaks at the earliest stage.

What the Commissioner for Special Duties, other officials said: 

Commissioner for Special Duties and Inter-Governmental Relations, Olugbenga Oyerinde, reaffirmed the government’s resolve to curb fire disasters, stressing the need to “rejig strategies” in view of recurring incidents.

“There is a need to rejig our strategies because of the frequent recurrence of fire incidents. We remain unwavering in our commitment to achieving zero fire incidents,” he said.

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

Earlier, Mrs Margaret Adeseye, the Director, LSFRS, recounting the statistics of the number of fire incidents in the state, said property worth N117.12 billion was saved by the agency from fire in 2024.

She disclosed that the estimated property lost was N19.52 billion.

Adeseye said victims rescued alive were 450, while 91 were rescued dead.

“The agency issued 7,039 compliance certificates and visited 7,870 commercial companies to ascertain their compliance level with fire safety code. 

“However, 831 did not comply with fire safety code. 

“In 2023, 2,573 fire incidents were recorded, but in the year 2024, we had a sharp drop of 1,952,” she said.

According to Adeseye, fire safety is not just about equipment but about the people.

“We fight not to fight the fire but life and future. Fire safety is not securing equipment but about the people.” 

What you should know 

Lagos state’s Gross Domestic Product (GDP) reached $259 billion based on purchasing power parity (PPP) in 2025.

This milestone places Lagos as the second-largest economy on the continent, trailing only Cairo, Egypt.

This was made known during the official launch of the Lagos Economic Development Update (LEDU) 2025 in January.


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Tags: Babajide Sanwo-OluLagos State Fire and Rescue Service
Olalekan Adigun

Olalekan Adigun

Olalekan Adigun is a seasoned political analyst and writer with extensive experience in crafting compelling narratives and executing strategic initiatives. Known for his insightful commentary on governance, policy, and socio-economic issues, he has contributed to various national and international platforms.

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