{"id":5252,"date":"2017-07-10T04:06:31","date_gmt":"2017-07-10T04:06:31","guid":{"rendered":"https:\/\/amazingproperty.com.ng\/blog\/niqs-seeks-private-sector-led-infrastructure-financing\/"},"modified":"2017-07-10T04:06:31","modified_gmt":"2017-07-10T04:06:31","slug":"niqs-seeks-private-sector-led-infrastructure-financing","status":"publish","type":"post","link":"https:\/\/amazingproperty.com.ng\/blog\/niqs-seeks-private-sector-led-infrastructure-financing\/","title":{"rendered":"NIQS seeks private sector-led infrastructure financing"},"content":{"rendered":"

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In Nigeria, project finance is still very much in its infancy and despite pressing challenges; positive trends are beginning to emerge. With Nigerian commercial banks being majorly short term lenders<\/a> and not suitable for long-term investment projects, the private sector is expected to become increasingly involved in the creation of financing solutions to develop Nigeria\u2019s declining infrastructure.<\/p>\n

The\u00a0President, Nigerian Institute of Quantity Surveyors (NIQS), Mrs. Mercy Iyortyer who spoke at the two-day national workshop organised in Lagos by the body, themed: \u201c Finance and Development of Capital Projects- Emerging Solutions\u201d, said the option has become necessary\u00a0following the high demand of construction\u00a0and the dwindling\u00a0fund occasioned\u00a0by the fall in oil prices and other macro economic factors.<\/p>\n

She stressed that infrastructure deficit would be recorded in Nigeria\u2019s history as one of its most urgent concerns and her ability to deal with this challenges will no doubt define her future economic trajectory.<\/p>\n

According to her, Nigerian government at all levels have traditionally financed the construction of infrastructure projects such a roads, bridges, power plants, airports, railways, ports and the like from their fiscal budgets with little or no support from the private sector, however this approach of project financing, she said, is unsustainable considering the present economic\u00a0pressures on the fiscal budget.<\/p>\n

\u201cIt is therefore imperative to turn to Project Finance Options as a way to develop Nigeria\u2019s Infrastructure projects\u201d, she noted.<\/p>\n

Mrs.\u00a0Iyortyer\u00a0also stressed the need for professionals to consider emerging solutions to these challenges and to benchmark other countries such as China and Dubai, who have had success stories in this area.<\/p>\n

She said: \u201c Progressively, project finance is being recognized as the best method of developing capital projects in Nigeria despite the associated risks and challenges of volatile economic activities.<\/p>\n

Quantity surveyors, she said already have an understanding of the measurement of cost and value with the necessary combination of financial analytical skills and market knowledge. However, in order to take steps towards acquiring expertise in capital project finance and development, such set of core skills and competencies have to be broadened significantly.<\/p>\n

No matter the high cost of providing these services, potential investors are normally willing to engage specialists to provide this service gap for achieving\u00a0their investment portfolio.<\/p>\n

She also extolled the Lagos state governor for blazing the trail by engaging\u00a0about 350 professionals to extend the dragnet of monitoring illegal development since incidence of building collapses is becoming common in Lagos through\u00a0the State Building Control Agency (LASBCA).<\/p>\n

This process is to flush out quacks from construction sites considering the damaging roles they play in\u00a0the incidences of collapsed buildings.<\/p>\n

In his remarks, Lagos State Governor, Akinwunmi\u00a0Ambode, represented by\u00a0Akin Francisco, an architect\u00a0stressed the urgent need for professionals in the built environment to proffer solutions to the financial needs for capital projects.<\/p>\n

In his first lecture on \u201cAlternative Methods\u00a0of Infrastructure Deliver: The Quantity Surveyor Perspective\u201d, the Chief Quantity Surveyor, Strategic Business Development, Julius Berger Nigerian Plc, Mr. Adewumi Akinpelu, said\u00a0the Public Private Partnership model is an agreement\u00a0for the delivery of the public good and must be viewed as an economic decision\u00a0rather\u00a0than political decision.<\/p>\n<\/div>\n

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 Guardian <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

As a measure to\u00a0close the nation\u2019s infrastructure gap estimated to cost about N3trillion yearly,\u00a0quantity surveyors\u00a0have advocated … NIQS seeks private sector-led infrastructure financing<\/span>Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":5253,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"advanced_seo_description":"","jetpack_seo_html_title":"","jetpack_seo_noindex":false,"jetpack_seo_schema_type":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[4],"tags":[2890,1399,1331,684,522,41,12],"class_list":["post-5252","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-opportunities-in-new-markets","tag-construction","tag-development","tag-finance","tag-lagos","tag-nigeria","tag-property","tag-surveyor"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Mobilising-infrastructure.jpg?fit=640%2C360&ssl=1","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":5264,"url":"https:\/\/amazingproperty.com.ng\/blog\/dogara-governors-others-for-abuja-housing-show\/","url_meta":{"origin":5252,"position":0},"title":"Dogara, governors, others for Abuja housing show","author":"Amazing Property","date":"July 10, 2017","format":false,"excerpt":"All is set for the 11th Abuja Housing Show scheduled at the International Conference Centre Abuja next week, which focuses on providing practical solutions to housing problems in Africa. The exhibition is organized by FESADEB Media Group promoters of Housing Development Programme on AIT, NTA and Housing time on Raypower.\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Abuja.jpg?fit=1200%2C675&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Abuja.jpg?fit=1200%2C675&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Abuja.jpg?fit=1200%2C675&ssl=1&resize=525%2C300 1.5x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Abuja.jpg?fit=1200%2C675&ssl=1&resize=700%2C400 2x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2017\/07\/Abuja.jpg?fit=1200%2C675&ssl=1&resize=1050%2C600 3x"},"classes":[]},{"id":6464,"url":"https:\/\/amazingproperty.com.ng\/blog\/quantity-surveyors-pledge-effective-regulation\/","url_meta":{"origin":5252,"position":1},"title":"Quantity surveyors pledge effective regulation","author":"Amazing Property","date":"October 2, 2017","format":false,"excerpt":"Lagos State branch chairman, Nigerian Institution of Estate Surveyors and Valuers (NIESV), Olurogba Orimalade (left); 1st National Vice President, Rowland Abonta; National President, Dr. Bolarinde Patunola-Ajayi and 2nd National Vice President, Emma Wike during Mandatory Continuous Professional Development Programme (MCPD)organised by Lagos State branch, recently. 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According to them, the lowest recorded interest rate on a mortgage in Nigeria is 19\u2026","rel":"","context":"In "Opportunities In New Markets"","block_context":{"text":"Opportunities In New Markets","link":"https:\/\/amazingproperty.com.ng\/blog\/category\/opportunities-in-new-markets\/"},"img":{"alt_text":"Olajumoke Akiode.jpg","src":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/olajumoke-akiode.jpg?fit=640%2C359&ssl=1&resize=350%2C200","width":350,"height":200,"srcset":"https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/olajumoke-akiode.jpg?fit=640%2C359&ssl=1&resize=350%2C200 1x, https:\/\/i0.wp.com\/amazingproperty.com.ng\/blog\/wp-content\/uploads\/2018\/02\/olajumoke-akiode.jpg?fit=640%2C359&ssl=1&resize=525%2C300 1.5x"},"classes":[]},{"id":3743,"url":"https:\/\/amazingproperty.com.ng\/blog\/qsrbn-seeks-national-construction-cost-database\/","url_meta":{"origin":5252,"position":4},"title":"QSRBN seeks national construction cost database","author":"Amazing Property","date":"April 24, 2017","format":false,"excerpt":"Quantity Surveyors Registration Board of Nigeria (QSRBN) has called for the establishment of a national construction cost database. 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