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By Maduka Nweke
The President, Quantity Surveyors Registration Board, Mr. Obafemi Onashile, has said that the Nigeria economy is ailing under various threats like skyrocketing inflation, scarcity of foreign exchange, multiple and higher taxation rates, corruption, infrastructure deficits, threatened living conditions with heightened rents, intangible work remunerations and others.
Speaking at a recent conference organised by the body in Port Harcourt, he said the event was planned to help strengthen the quantity surveying practices and processes for sustainable growth in a turbulent economy.In his keynote address, Onashile highlighted the nation’s current economic turmoil. He noted that such challenges often present two choices: emigration to a more stable economic climate or confronting the adversity head-on. The latter, he argued, is the path the Nigerian Institute of Quantity Surveyors (NIQS) is dedicated to preparing Nigerians for.
According to him, a turbulent economy does not last forever. “Turbulent times require a very deep reflection. Lifestyles or tastes will change production or business types will change as many existing businesses will fold up, whilst others will look for new clients to buy their products or perhaps you sell new products. To stay and survive beyond a turbulent economy as a business or as a professional, there must be a determination to survive/excel and also the readiness to accept a change from the usual. You need to be resilient and exhibit some form of flexibility in the sense of readiness to take on unusual or hitherto rejected undertakings.
“Unusual undertakings, that is, a never done service before but which is now being requested and ready to be paid for. E.g Project management, facility management, project monitoring services, contract management services, Arbitration, Expert Witness, Construction Claims Expert services, Construction Health and Safety Services, Project Scheduling and Project controls. Sometimes, to undertake these unusual services, there may be the need to quickly acquire additional capacity by way of further education i.e a postgraduate degree or short-term certification training like those organized by the NIQS Academy or the RICS.
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“Some hitherto rejected undertakings, could be in the form of engagement for preparation of Schedule of Dilapidations and Repairs for a Maintenance Work, or engagement for preparation of Schedule of Materials for relatively small projects. These are services that hitherto in good times you would have rejected for lack of availability of time. To be resilient may sometimes involve thinking out of the box and bringing in some innovations in order to make a sale. Examples of these can be the carving of a market niche for peculiar services, Undertaking Technical training for firms, individuals and other corporate bodies, Authorship/Publication of technical Books, Creation of technical software like pricing and estimating software. Publication of periodic price books etc. Turbulence is not an end but a process and often a passing phase. It is a dynamic and a reformation phase. It creates chaos but it also creates opportunities. The vast majority look at the chaos and keep complaining about how painful the turbulence is, whilst a very few look at the opportunities the turbulence creates, “he stated.
Earlier in his opening remarks, the President, Nigeria Institute of Quantity Surveyors, Mr. Kene Nzekwe, said that the Nigerian economy has been characterised by uncertainty, volatility, and turbulence in recent years, posing significant challenges to the construction industry because of the apparent galloping cost of construction. He said that as Quantity Surveyors, they are at the centre point of providing cost management solutions to these challenges and proffering realistic trajectories to the construction industry in Nigeria. “Therefore, this conference aims to interrogate Quantity Surveyors in professional practice, academics, and other industry stakeholders to identify and recommend solutions to these challenges.
“The development and growth of any country or state is highly dependent on her level of infrastructure development and the commitment of the leadership to continue to ensure infrastructure delivery.
“To this end, I would like to use this occasion to commend the Governor of Rivers State, Sir Siminalayi Fubara for his laudable developmental strides such as the ongoing construction of Port Harcourt Ring Road project.
“The magnitude of this project traversing six local government areas of the state is a statement that the Governor desires that development quickly reaches every nook and cranny of the state. It is also difficult to miss the numerous road projects completed within this young administration, the funds channeled to health and education infrastructure and the increase in internally generated revenue for the state are all evidence of the commendable efforts of your government thus far. Your dexterity for economic diversity and inclusion through agriculture and foreign direct investment is worthy of note,” he concluded.
