Architects have been urged to broaden their professional competencies beyond design and documentation by acquiring the financial, analytical and strategic skills required for feasibility studies, business case development and investment decision-making.

The Managing Partner of Sowunmi Williams and Associates, Williams Sowunmi, made the call during the 2026 Continuous Professional Development (CPD) Programme organised by the Nigerian Institute of Architects (NIA), titled: ‘The Architect as Development Strategist: Redefining Professional Value in Nigeria from Design to Decision – Integrating Feasibility, Business Case and Financial Intelligence into Architectural Practice’.

Sowunmi said the evolving nature of Nigeria’s real estate and construction industry demands that architects reposition themselves as development strategists capable of influencing investment decisions rather than merely producing building designs.

According to him, architects who understand feasibility analysis, investment logic, financial risk and development strategy will play a more central role in shaping projects from conception to completion.

“Architecture in Nigeria is evolving. The architect who understands feasibility, investment logic, financial risk and development strategy will not only design buildings but also shape investment decisions. Strategic development competence is the new professional currency,” he said.

He challenged practitioners to move beyond designing buildings to influencing development outcomes, noting that the built environment is increasingly driven by investment considerations, market demand and financial performance.

“Many architects remain positioned primarily as design professionals rather than strategic development advisers. Yet today’s projects are driven by return on investment (ROI), cash flow timing, cost volatility, risk allocation and market absorption rates. If architects cannot speak this language, they risk losing strategic influence,” he said.

Sowunmi traced the evolution of architectural practice in Nigeria from the colonial and early post-independence era through the oil boom and early 2000s to the current investment-driven market.

According to him, architects have moved from serving as master builders with significant professional authority during government-led development to operating in a private sector dominated by developer-led projects and increasing fee pressure. Today, he noted, financial institutions and investors largely determine project scope, with architects often engaged only after feasibility decisions have been made.

He observed that the architect’s influence has gradually shifted downstream in the project value chain, warning that creativity without financial literacy diminishes professional relevance.

“Architecture is moving from design consultancy to development strategy. The architect’s role is evolving from drawing producer, compliance professional and aesthetic adviser to development adviser, risk interpreter, investment-aware designer and value optimisation strategist,” he said.

Sowunmi emphasised the importance of understanding project bankability, explaining that architects with financial knowledge are better positioned to design projects that attract lenders, investors and institutional buyers.

“Architecture influences revenue, cost, risk, asset value and investment exit. Good design increases property valuation, efficient design improves cash flow, and practical design reduces project risk. Together, these factors enhance bankability,” he said.

He added that architectural firms can diversify their services by offering pre-acquisition land assessments, feasibility studies, development strategy advisory, yield analysis and business case support.

“Strategic knowledge commands higher value and enables firms to generate revenue beyond conventional design fees,” he said.

On risk management, Sowunmi urged architectural firms to strengthen their internal processes by avoiding underpriced projects, reducing rework arising from unrealistic client briefs, protecting themselves against professional liability, improving negotiation capacity, building client confidence and engaging the appropriate specialists to support project delivery.