NIQS Champions Sustainable Growth Ahead Of 2024 AGM

Amid economic challenges in Nigeria’s construction industry, the Nigerian Institute of Quantity Surveyors (NIQS) has advocated for sustainable growth and innovation.

The institute will host its 2024 Annual General Meeting (AGM) in Port Harcourt from November 26 to 29.

Speaking at a press conference ahead of the event, the NIQS President, QS Kene Nzekwe, FNIQS, outlined the institute’s commitment to strengthening quantity surveying practices in response to Nigeria’s economic challenges.

Under the theme “Strengthening Quantity Surveying Practices and Processes for Growth and Sustainability in a Turbulent Economy,” this year’s AGM aims to address pressing issues facing the construction industry.

Nzekwe emphasized the critical role of quantity surveyors in efficient resource allocation, cost management, and project execution amidst economic volatility.

“In these turbulent times, quantity surveyors must adapt and innovate to stay relevant. We are indispensable in ensuring efficient resource use and delivering value-for-money solutions, particularly as the nation grapples with inflation and limited resources,” Nzekwe said.

He disclosed that NIQS has implemented several initiatives to enhance project outcomes and promote best practices.

Among these is the ongoing development of a comprehensive cost databank for the construction industry, a resource expected to provide reliable benchmarks for project cost estimation and planning.

Another milestone is the Building and Engineering Standard Method of Measurement (BESMM 4R), a standardized framework for cost estimation and transparency in project management.

Nzekwe urged stakeholders to adopt BESMM 4R, highlighting its potential to enhance accountability and improve project quality.

Additionally, the institute has introduced a Standard Method of Resource Scheduling tailored to small-scale and informal construction projects.

This initiative, according to the president, supports smaller builders by offering clear guidelines for resource allocation and scheduling, fostering inclusivity and sustainability in the sector.

Despite these advancements, the construction industry faces significant challenges, including hyperinflation driven by economic policies like fuel deregulation and the floating of the Naira. The prevalence of unqualified personnel in cost management, often referred to as “quackery,” further undermines project success, leading to abandoned projects, cost overruns, and structural failures.

“Quantity surveyors are the only professionals equipped to provide accurate cost assessments and management from project conception to completion. Engaging unqualified personnel not only compromises project outcomes but also jeopardizes public safety,” Nzekwe stated.

The NIQS has called on the government to prioritize the engagement of qualified quantity surveyors in all construction and infrastructure projects.

The institute also advocates for separating design and cost management responsibilities to promote transparency and ensure judicious use of public funds.

As the AGM approaches, Nzekwe reaffirmed the NIQS’s commitment to collaborating with stakeholders to optimize project delivery and achieve sustainable growth.

“Our role is to advise and provide expertise to help navigate challenges, particularly in managing construction costs and scarce resources,” he said.

The AGM will also serve as a platform for the NIQS leadership to present its achievements and receive feedback from members on ways to further strengthen the institute.

“Through collaboration, innovation, and adherence to global best practices, we can reverse current trends and create a resilient, efficient construction industry,” Nzekwe concluded.

He emphasized that, as the industry navigates uncertain economic times, the solutions presented at this AGM will be key to shaping the future of construction in Nigeria.