Institute
By Lilian Okoro
Lagos, July 12, 2018 (NAN) The Nigeria Institute of Quantity Surveyors (NIQS), Lagos chapter, says it will address challenges hindering optimal performance of construction industry to enhance its contribution to the Gross Domestic Product (GDP).
Mr Bamidele Mafimidiwo, the Chairman of NIQS, made the assertion on Thursday at a news conference heralding the 10th Anniversary/Distinguished Lecture Series of the institute in Lagos.
The theme of the lecture is: “Repositioning the Construction Industry for Economic Growth and Development.’’
Mafimidiwo said that the poor performance of the industry was responsible for its low contribution to GDP, which currently stood at below five per cent.
According to him, the industry’s performance is a major causative factor of the recent economic recession of the country.
“If nothing is done to reposition the industry, the country may fall back to recession,’’ Mafimidiwo said.
He said that the lecture would address the critical economic issues that hinder the growth of the construction sector and proffer solutions to aid the nation’s development.
The chairman listed Mr Rasheed Adejare, the Chief Executive Officer of the Bank of Industry and Mr Muda Yusuf, the Director-General, Lagos Chamber of Commerce and Industry (LCCI) as some of the key speakers.
“The lecture, which comes up on July 19 at Muson Centre Lagos, will be a platform for deliberation and networking among professionals, industries, stakeholders and key players in the built environment.
“It will provide directives for the governments on ways to tackle challenges that can result to economic recession in the country,’’ Mafimidiwo said.
In his remarks, Mr Jide Oke, a former Chairman of NIQS, said that Quantity Surveyors were major stakeholders/players in the housing construction and infrastructural development of any nation.
Oke urged government at all levels to engage the services of quantity surveyors in road construction, housing and capital projects to minimise cost.
He said that quantity surveyors were cost managers and evaluators, who specialised in expenditure and cost assessment, to ensure that incurred/proposed costs were justifiable.
According to him, the continuous mismanagement of government’s funds allocated to projects is as a result of absence of professional quantity surveyors to evaluate and monitor the cost/expenditure aspects of the projects.
“There is need to involve quantity surveyors in all aspects of cost management, particularly now that the economy is out of recession for maximum utilisation of resources.
“The citizens must benefit and derive maximum value for money spent on construction works, especially for the massive infrastructure and housing projects embarked on by government.
“The project management principles of strategic planning, detailed programming, monitoring, resource allocation and effective cost management must be entrenched in the public procurement system to enhance project delivery,’’ Oke said. (NAN)
LUC/FF/GOK
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Edited by Fela Fashoro/Olagoke Olatoye