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Investments In Construction, Building Sectors Reason For Economic Recovery- Fashola

The minister of power, works and housing, Mr Babatunde Fashola, has disclosed that Nigeria recovered within one year of economic recession due to heavy investments in the construction and building sectors.

He stated this in Abuja  while declaring open a two-day workshop on ‘Construction Contracts Best Practices,’ organised by the Nigerian Institute of Quantity Surveyors (NIQS).

Fashola stated that the National Housing Programme ( NHP) of the current administration was the second in the history of Nigeria as an independent country, adding that the project has created not less than 14, 000 direct jobs and 40, 000 indirect jobs for builders, petty traders, food vendors and among others.

The minister described the construction sector as one of the most important sectors in any economy adding that apart from generating employment that it has multiplier effects on other sectors.

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He commended NIQS for aligning itself with the developmental efforts of government even as he emphasised the need for government to enter into contractual relationship with different parties and nationalities.

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The minister, who was represented by Mr Dickson Onoja, noted that President Muhammadu Buhari, has been working to meet government’s contractual obligations including payment of contractors and contractual debts inherited by the previous administration.

Fashola stated that the ministry was interested in the outcome of the workshop, which he believed would develop the capacity of practitioners in handling various forms of contracts.

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On his part, the president of NIQS, Mr Obafemi Onashile, said that the essence of the workshop was to promote the growth of the profession in all relevant areas including the award of contracts.


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