Fuel Subsidy Removal: Quantity Surveyors back Tinubu’s decision

… Urge professionals to be diligent in service delivery

The Nigerian Institute of Quantity Surveyors (NIQS), Lagos chapter has commended the bold step taken by President Bola Ahmed Tinubu on the removal of fuel subsidy.

The institute at its 15th edition of the Distinguished Lectures series on the theme “removal of fuel subsidy: potential on the construction industry and the Nigerian economy” disclosed that the removal of subsidy will in the long term benefit all Nigerians.

The institute expressed hope in the government of Nigeria to improve the economy from the monthly savings gotten from the deregulation of the downstream sector.

The group of experts gathered in Lagos to brainstorm on coping mechanisms for professionals as construction materials have risen to more than 75 percent, which has stalled some on-going projects.

Speeaking at the programme, the Group Managing Director of RainOil Limited, Dr Gabriel Ogbechie called for calm and assured the professionals of hope, especially as the 400 billion naira savings gotten from the removal of Fuel Subsidy is expected to be pumped into the builts and infrastructure sector and will benefit the construction industry.

“The removal of oil subsidy was the very bold move the government took since the day it was inaugurated as the President. We are going to see the country save close to 400 billion every month, just from fuel subsidy alone. This implies an incremental sum of about 7-10 billion naira for state government’s allocations. Thissavings is going to be channeled into the productive sectors of the economy and we are going to see positive impacts of it on the economy as a whole,” he said.

“This means more money for infrastructure development and it is the construction company that would really benefit, when the building of infrastructures start.”

He also recommended researches into alternative building materials like Fiber Reinforced polymer, bamboo reinforced plastics, ferro-cement, ceramics, bitumen materials, aluminium to reduce the cost of construction materials.

The Director, Research and Advocacy, Lagos Chamber of Commerce and Industry, Mr Tony Monye emphasised his concern on the issue of Safety as he called on stakeholders involved in the construction sector to prioritise curbing building collapse.

“We should look out for people that will want to be involved in sharp practices or use inferior materials. We must be ready to rise up against them in all capacity, to enhance the integrity of this noble profession,” he stated.

Another speaker, Engineer Igbuan Okaisabor recommended collaborations with other stakeholders in the industry to cushion the effect of deregulation.

He also asked the government to look into giving a single digit loan to them and consider waiving or reducing taxes, since the cost of service has tripled due to inflation and deregulation.

“With this current Japa syndrome, You have to hold on to your good staff now. As we can see now that Nigerians are moving to different parts of the world for greener pastures. This is not the right time to downsize,’’ he explained.

The Director General of the Nigerian Insitute of Quantity Surveyors Foundation, NIQSF, Dr Celestine Ike recommended mentorship for young professionals in the industry.

She urged them to pass through the tutelage of experienced elders in the system who knows what it takes to get contracts and the requirements of government to achieve this before deciding to stand alone.

Also, the Managing Partner of Construction Economists Partnership, CEP, QS Olusegun Ajanlekoko represented by Mrs Aderonke Oyelami encouraged younger professionals to learn soft skills that could boost their employability and also add value to their individual lives.

The Chairman of the Lagos Chapter of the NIS, Olanrewaju Farotimi said the purpose of the lectures was to bring professionals together to discuss trending issues, so as to agree on best practices.

He urged Structural Engineers, Architects, Quantity Surveyors, Project Managers and all other stakeholders to collaborate to enhance safety of lives during and after construction projects.

Leave a Reply

Your email address will not be published. Required fields are marked *