THE Quantity Surveyors Registration Board of Nigeria (QSRBN), on Thursday, raised the alarm that the oil and gas, as well as the building and construction sectors remain two major areas where huge resources are lost in the economy.
It also expressed worry that while efforts are being made to effectively police the oil and gas sector, little attention was being paid to the building and construction sector.
President of QSRBN, Mallam Husaini Dikko, who spoke in Abuja at an economic roundtable, attributed the high cost and inflation in the building and construction sector to the absence of cost standards.
He lamented that cases abound where different governments or their agencies executed construction projects at different costs, despite the fact that the projects were similar in all material particulars.
Mallam Dikko maintained that instances showed that the absence of transparency, accountability and probity were implicated in the current regime of high building and construction costs.
Noting the need to set standards for projects’ costing and templates for determining cost bands across the geopolitical zones, states and local governments throughout the country, the QSRBN president insisted that achieving the feat would require the development of a robust building and construction cost database and the establishment of a cost data centre under the supervision of the body.
“The building and construction sector can be used to set agenda for Nigeria’s economic development, just as it is also a critical success factor in the achievement of the country’s economic programmes in many ways,” he said.
Source: http://tribune.com.ng/news2013/index.php/en/news/item/12710-corruption-in-oil-building-sectors-depleting-nigeria-s-economy-quantity-surveyors
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