The Nigerian Institute of Quantity Surveyors (NIQS) has reaffirmed its dedication to encouraging economical building methods in the face of Nigeria’s difficult economic situation. During the Abuja unveiling of the institute’s new presidential vehicle, NIQS President Kene Nzekwe spoke about how hyperinflation affects the building sector. In order to overcome these obstacles, he underlined the need for creative solutions and the vital role that quantity surveyors play in cost control and stakeholder advice. Nzekwe offered cautious optimism over the state of the economy, pointing to recent drops in gasoline prices and their possible beneficial effects on building expenses.
In order to improve resource allocation in public projects and guarantee that project goals are met effectively, he also asked the federal government to leverage the experience of quantity surveyors. Despite financial difficulties, quantity surveyors have successfully controlled costs in Nigeria’s building sector. For example, a quantity surveyor’s careful cost control and supervision reduced overruns in a high-rise commercial building project, guaranteeing that the project was finished on schedule and within budget. The sustainable design of this project also earned LEED certification, demonstrating the surveyor’s contribution to the adoption of green building techniques.
They promote creative solutions to economic problems.
Nigerian building expenses are greatly impacted by changes in fuel prices and exchange rates. While a strong dollar raises the cost of imported Construction equipment and supplies, rising fuel prices raise the cost of transportation and production for building materials. These elements raise project expenses and may cause delays. The Nigerian Institute of Quantity Surveyors (NIQS) promotes creative solutions to economic problems, like creating an extensive cost database to improve project management’s accountability and transparency. In order to provide value for money in construction projects at all governmental levels, this program seeks to enable efficient cost monitoring and regulation.
Employing quantity surveyors is advantageous to private businesses and individuals in addition to the government. In addition to offering value for money and increasing project success rates, their proficiency in cost planning, procurement, and contract administration guarantees that projects are finished on schedule and to the appropriate quality standards. Adopting contemporary building technology, such as Building Information Modelling (BIM), which may assist quantity surveyors in better planning and cost management, will help Nigeria guarantee cost-effective construction for quantity surveyors. Detailed project visualisation, precise cost calculation, and the detection of possible problems prior to construction are all made possible by BIM.
Domestic manufacturing of building supplies will stabilise prices.
Up-to-date pricing data on supplies, labour, and equipment will be made available through the establishment and upkeep of a national construction cost database. This can lower the possibility of cost overruns and help quantity surveyors provide reliable estimates. To standardise cost management throughout the nation, the Nigerian Institute of Quantity Surveyors (NIQS) has suggested creating such a databank. The government can make sure that quantity surveyors are required to be involved in both the planning and implementation stages of public projects. Transparency and accountability can be achieved and cost Inflation can be avoided with the support of clear procurement policies and anti-corruption initiatives.
Due to its heavy reliance on imported supplies, construction is susceptible to changes in currency rates. Encouraging domestic Manufacturing of building supplies like Steel and cement will stabilise prices and lower project costs overall. An illustration of how indigenous industries can help achieve this objective is the cement produced by the Dangote Group. Infrastructure projects can be funded while maintaining cost-effectiveness by promoting cooperation between the public and private sectors. In these collaborations, quantity surveyors are essential because they make sure that project budgets are reasonable and followed.
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Frequent training on new international cost management and Sustainability techniques can help quantity surveyors become more effective. In order to keep experts up to speed, the NIQS could host workshops and certification courses. It is possible to lower long-term expenses by encouraging economical and environmentally beneficial building practices, such as modular construction and the use of renewable energy. For example, energy usage has been significantly reduced in Abuja due to green building initiatives. Nigeria may enable quantity surveyors to accomplish cost-effective building by putting these measures into place, which would promote Economic Growth and Sustainable Development in the industry.