Quantity surveyors key to national economic recovery, say experts
Except built environment professionals, especially cost experts are recognised in national development, the recovery of the economy would remain a mirage, quantity surveyors, under the aegis of Nigerian Institute of Quantity Surveyors (NIQS) have said.
Speaking at the 13th Annual Distinguished Lecture of NIQS, Lagos chapter, partner and Chief Economist, West Africa Financial Services Leaders, Dr. Andrew Nevin, said professionals are needed in diversification of the economy and attracting investors into the country.
Nevin, who spoke on the theme: “Economic Recovery in Infrastructure amidst Security Challenges in Nigeria: The role of professionals in the built environment,” expressed worries that Nigeria holds about $900 billion worth of dead capital in residential real estate and agriculture, while the value of Federal Government’s abandoned properties is put at about N230 billion.
According to him, quantity surveyors have pivotal role to change the narrative by harnessing the power of Diaspora Nigerians.
He said Nigeria is the largest recipient of remittance in Sub Saharan Africa (SSA) accounting for over a third of the flows to the region.
Nevin said since human capital is the country’s biggest export, professionals in the built environment should be in the forefront of a national strategy that would improve Nigeria’s ease of doing business.
The chief host and NIQS President, Mohammed Abba Tor, said there is a relationship between the stock of infrastructure and economic development.
He called on governments at various levels to give priority to provision and maintenance of infrastructure such as power, transportation (road, rail, air, waterways), education, health, as the quick wins to fast track economic development.
According to him, quantity surveyors are trained to provide total cost and procurement management of capital projects from conception to commissioning and maintenance, in all sectors of the economy, thereby ensuring value for money.
“We should collectively resolve to serve as good reference and influencers. Professionals in the built environment are doing their best within given constraints and daunting challenges. We should strive to do more through continuous quality improvement effort,” he added.
Earlier, the chapter’s chairman, Ayo Alao, stressed the need for professionals to come together to discuss burning issues that affect the nation.
Other speakers are Prof. Isaac Olaniyi Aje of the Federal University of Technology, Akure, Olayinka Abdul and professor of Construction Management, Prof. Abimbola Windapo, stressed the need for adoption of technology and collaboration among professionals to steer the nation out of economic woes.