MINISTER of Power, Works and Housing, Babatunde Fashola has described the construction industry as one of the most important in the economy of any nation, considering the profound effects of the activities on the overall national economy. Fashola, who stated this yesterday at a summit organised by Quantity Surveyors Registration Board of Nigeria, QSRBN, in Abuja, noted that apart from its capacity to generate employment on a large scale, its huge multiplier effect on the economy of a nation stand out as a leading sector of the economic development. The minister, who was represented at the summit by Sani Gidado, said that construction sector was capable of pulling an economy out of recession and as well reflating a depressed economy, adding that one of the causes of high costs of projects in the construction sector is corruption. He lamented how corruption has brought negative consequences on national development and the wellbeing of the people, stating that the fight against corruption should be embraced by every Nigerian if the nation must attain development. According to him, “It is accordingly, for this reason that the present administration under the leadership of President Muhammadu Buhari is confronting the vices of corruption and graft in our national life head on.” Fashola asserted that the ministry of Power, Works and Housing will continue to collaborate with the Quantity Surveyors Registration Board of Nigeria, QSRBN the Nigerian Institute of Quantity surveyors, NIQS and others stakeholders in the construction industry, with a view to establishing a reliable cost database that will ensure realistic costing of buildings, roads, bridges among others. In a welcome address, the registrar of QSRBN, Godson Moneke said that the cost of construction projects in Nigeria had been rated among the highest in the world. “Why should we pay more for construction works and services than countries like the United States, United Kingdom, China, Japan, Germany, France and other world economic superpowers? He asked, adding that “it makes Nigeria look unserious and an object of mockery in the eyes of the world.”


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