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Infrastructure deficit hampering Nigerian property sector growth – Expert

L-R:  Chairman of the Special Committee for the Rehabilitation of Public Schools in Lagos State, Hakeem Smith,  President, Quantity Surveyors Registration Board of Nigeria, Murtala  Aliyu,  Former Minister of Works, Senator Adeseye Ogunlewe,  CASLE President, Olusegun Ajanlekoko, Special Adviser to the Lagos State Governor on Works & Infrastructure;  Aramide Adeyoye and  NIQS President, Olayemi Shonubi at the Investiture and Award Night of the Nigerian Institute of Quantity Surveyors held at Eko Hotel and Suites on Friday 25th November, 2022

An Associate Partner, Consol Associates, Akintunde Munis, has said the lack of good infrastructure has been slowing down the growth of the country’s construction industry.

The Nigerian Institute of Quantity and Surveyors member disclosed this at the just concluded National Conference and Annual General Meeting of NIQS themed “Infrastructure Cost Management: Contemporary Issues and Emerging Trends,” held in Lagos recently.

He said, “Why is Africa lagging behind these countries in terms of economic growth and poverty alleviation? There are many reasons and answers to these questions. However, one of them which is very

important is their very good physical Infrastructure.

“No nation develops without investing in infrastructure and indeed, this is the reason why in the aftermath of the Second World War, the Western countries massively invested in infrastructure. It is also the reason why Japan and South Korea and later China undertook a drastic improvement in their infrastructure so as to ensure that it

enables faster economic growth and development.”

According to the Munis, Infrastructure Cost Management facilitates Infrastructure effectiveness.

He added, “By and large, be it Contemporary or Emerging

Infrastructure trends, their Cost Management requires techniques and skills. Therefore, as Construction Cost professionals, we must resource and position ourselves for this mega business opening.”

Speaking on International Construction Measurement Standards, Framework and Implementation Strategy, the Managing Partner, Projects Associates, Adebowale Oyinleye, noted that consistent practice in presenting construction costs globally will bring significant benefits to construction cost management.

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