• Construction Industry Overview
• Investment Opportunities
• Multinational/International Construction Companies
• Training, Regulation & Standards
• Improved Construction methods
• Private Sector Involvement
As Nigeria charts towards it’s aim to be amongst one of the worlds major economies in2020, the construction industry will witness immense changes and holds great opportunities for those interested in this field. The large population of graduates and students graduating from the Nations universities will ensure that there is ample supply of engineers, surveyors and architects. What is crucial is that new and international companies come in to the country to train them and provide hem with opportunities to make use of new technologies and techniques to ensure speedy and safe methods of construction.
The Nation is blessed with most of the inputs required such as Tar Sand for Bitumen for Asphalt, Gravel, Granite, sand, Kaolin, Petrochemicals, Silica for glass, Clay for Bricks, Bauxite for Aluminium, Limestone & Gypsum for Cement and plasterboards, Timber for construction, Steel mills for Construction steels and rods. The main thrust will be to provide a report on how to ensure that methods of assembly, construction and prefabrication, techniques and construction methods are available to developers to allow for speedy, safe quality controlled construction. The report will look at viable projects and industries in the sector as a significant proportion of inputs are currently imported. These imports do not meet the nations demand.
Apart from Julius Berger and Arab Contractors there are very few multi national construction companies taking advantage of this opportunity.
Looking at the transformation of China over the last 20 years Nigeria can learn from this phenomenon. In China a new Power plant is being constructed and commission at least one every week. There a hundreds of new cities and towns being built, transport systems, hospitals, schools etc. Most of these are being built largely by Chinese companies Expansion in the economy and increased development will require major investments in this sector. China is fast becoming the world’s largest economy it is currently in fourth position. Nigerian companies need to have more cooperation with their Chinese counterparts to ensure the rapid development is effected as is the government’s desire. As with the communists the land in Nigeria is vested in the State as a result it has the capacity to make things move at a rapid pace provided it can reduce the red tap, regulations and simplify procedures. This must be coupled with tax holidays, heavily discounted land provision, and transparency
As with the development of Transcorp the government and private investors should look at facilitating the emergence of Nigerian multinational construction companies, to transform the landscape of the nation. The development of new towns and mini cities with private equity and debenture funding will be a plus for the nation. It will reduce the strains on existing cities and provide a funnel to take up the overspill from the cities. It will also allow regeneration projects within existing cities, new transport schemes and relocation opportunities for residents whose properties will have to be demolished as part of the re-planning of cities. Development and adaptation of construction techniques, methods inputs and equipment that will result in reduced construction costs.
The Institutes Aim For the Construction Sector:
a) Develop feasibility studies on cost & viability of Construction Projects.
b) Provide feasibility reports for developing Construction Machinery, Tools & Equipment Manufacture, Sales and Hire Companies.
c) Provide Feasibility Reports on Standardisation and Regulation.
d) Provide Reports on Local Sourcing of Inputs and local Resources.
e) Develop policy document on Training and adaptation of new construction methods.
f) Develop regulations, policies and laws to encourage private sector involvement and competition in this sector.
g) Develop Reports for companies and individuals wishing to invest in upstream & down stream businesses in the construction industry.