VICE President Namadi Sambo has expressed the plan of his administration to reposition the building and construction industry and put in place a stable sector that is grounded in appropriate balance between innovation and regulation.
He noted that Nigeria may not achieve the vision of becoming one of the developed nations if the country failed to get its building and construction industry right.
Speaking at the first yearly Building and Construction Economic Round Table organised by the Quantity Surveyors Registration Board yesterday in Abuja, Sambo observed that government had set in motion initiatives to strengthen its policy framework for the sector to enable it to transit from amateur and traditional construction to a modern and professional one.
He stated that the consideration of the incidence of collapsed buildings in Abuja and other cities as well as the number of lives lost due to such negligence by the so-called professionals who supervised them had heightened the need to enthrone corporate governance and enhance risk management practices in the sector. He added that government was committed to going the extra mile to restore confidence of investors in that sector.
The vice president said that the theme of the conference was in line with national effort towards putting in place a robust economic development agenda.
He noted that the round table would help generate ideas for sound policies in the building and construction sector and assist towards massive employment generation and wealth creation in Nigeria.
He said: "This conference could not have come at a better time than now when government is making concerted efforts to reposition Nigeria towards becoming one of the leading economies in the world by the year 2020. This forum is expected to also give the key operators in the building and construction industry an opportunity to share ideas and experiences and discuss the strategies for addressing issues and challenges that are pertinent to the sector.
He said that the theme of the conference "Setting Agenda for Nigerian economic development through the building and construction sector" was apt as it would provide the Federal Government with an opportunity to take a critical look at the country's building and construction industry and to come up with ideas that would support its safety and soundness; and enable the system to withstand both internal and external shocks thereby enhancing the confidence of both operators and investors in the system.
The vice president expressed the hope that the statement that would emanate from the conference would help spur government's initiatives in transforming the building and construction sector, adding that government aimed at continuously improving the sector to guarantee its viability to sufficiently meet the needs of Nigerians and foreign investors alike.
He urged the board to come out with ideas that would advance the agenda for the development of a building and construction sector and facilitate economic transformation.
"It is pertinent at this juncture to charge the Quantity Surveyors Registration Board of Nigeria to create the appropriate avenue for the attainment of the much-needed revolution in the industry through strategic engagement, synergy and partnership among its stakeholders. As a government we pride ourselves as open, transparent and willing to take on board the views of our people. Public opinion, which includes your opinion, helps to shape our decisions, our policies and thus our future.
"History must not be allowed to repeat itself with regard to the rot we experienced recently in the building and construction sector with the collapse of buildings. More importantly, the sector as the melting pot of the economy, that is the real sector, has a major responsibility in the ongoing reform efforts by the government. If the economy eventually attains the optimal point, the benefit will trickle down to everyone in the society as the real estate is the ultimate desire of every Nigerian," he added.
Source: The Guardian.