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By Maduka Nweke, [email protected]
•L-R: Treasurer, Nigerian Institute of Quantity Surveying (NIQS), Theophilus Eguh, session coordinator, Dr. Olubunmi Ade-Ojo, keynote speaker, Francis Adetola, NIQS President, Kene Nzekwe, vice president, Bamidele Mafimidiwo and Secretary General, Rotimi Ojelade, during its zonal workshop in Oyo recently.
The Nigerian Institute of Quantity Surveying (NIQS) has advised the federal government to immediately repair the moribund Ajaokuta Steel Complex in Kogi Statewhich has been estimated to cost $2.5 billion, rather spending scarce foreign exchange to import steel, which gulps $8.5 billion annually.
The institute notes that most people do not consider the impact of costing in construction, hence, the fixing of Ajaokuta Steel Mill has been neglected.
Speaking at the Institute’s workshop held recently in Oyo State, a quantity surveyor, Mr. Francis Adetola quoted the Minister of Steel Development, Shuaibu Audu who stated earlier during his visit to Plateau State, that reviving Ajaokuta mill will cost between $2 and $2.5 billion.
According to him, every government is always setting up committees to revive the steel plant without the strong will to implement the recommendations. He noted that importation of steel in Nigeria costs about $8bn annually.
“Billions of dollars have been invested in power plants projects for which there has been no appreciable result.
“In the context of construction, cost includes all the expenses associated with building, renovating, or maintaining a physical asset, such as labour, materials, equipment, land, and other related expenses. Understanding cost is essential for making informed decisions, setting budgets, and managing resources effectively. Data is the foundation of knowledge and information, and it is used in every field of life. It can be defined as a collection of information in a raw or unorganised form, such as numbers, words, images, or sounds, which are processed, stored, used and reused to derive meanings, informed decisions, or create the knowledge base required for future use.
“This can be qualitative (text, images, audio, etc.) quantitative (numbers, statistics) structured (organised, easily searchable, databases) unstructured (unorganised, not easily searchable) social media posts,” he noted.
While speaking, the Commissioner, Ministry of Public Works and Transport, Oyo State, Mr. Daud Shangodyin said that the construction industry in the country is facing a lot of challenges as the instability of prices of goods and services persists.
He said the theme of the workshop is relevant and that, “To establish a database which would enable the government get value for money as well as the contractor to breakthrough in his business, it is pertinent for the professionals to rise up to the challenge and save the country at this crucial time.
“In your position as custodians of projects cost estimators of the multi million naira investments in the construction industry, quantity surveyors perform a vital role in ensuring that government’s projects are implemented in line with global best practices.”
Earlier in his presentation the President of NIQS, Mr. Kene Nzekwe, stated that the recent events in Nigeria, such as the effects of hyperinflation on the economy and its impact on cost management of construction projects have revealed the need for a reliable construction industry cost-database.
He applauded the NIQS for taking the bull by the horn to champion a reliable cost-database for the industry.
He said, “This is geared towards contributing meaningful data and indices to the national statistics when it comes to construction and to create a veritable database for estimation and cost management of construction projects.
“It is therefore incumbent on the NIQS at this material time to provide the construction industry in Nigeria a reliable cost database that would meet every global standard of what a reliable cost database should be.”
Thus far, the cost database committee of the institute is working assiduously to making this project a reality.”
Nzekwe commended the Governor of Oyo State, Seyi Makinde for his laudable developmental achievements such as the “Roadmap for Accelerated Development in Oyo State.’’
