Business
Construction Industry, Critical To Nation’s Growth – Sambo
Vice President Namadi Sambo last Thursday in Abuja said that the construction industry was critical to the growth and development of the country.
Sambo made this known at the “2nd Building and Construction Economic Roundtable’’ organised by the Quantity Surveyors Registration Board of Nigeria.
The theme of the two-day event is entitled: “The Role of the Building and Construction Sector in Achieving Vision 20:2020”.
Sambo,who was represented by Ms Amal Pepple, the Minister of Lands, Housing and Urban development, said that the sector was a virile tool for capital formation and wealth creation in any economy.
He noted that the present administration had introduced new policy measures and strategic interventions as a means of revitalising the sector as one of the pillars of national renewal and sustainable development.
The vice president added that the sectors’ capacity to generate high multiplier effects, which was necessary for industrialisation, economic growth and development, was crucial.
Sambo said that with government’s effort to reduce unemployment and arrest the effect of global economic and financial crises, the sector was best placed to generate massive employment and stimulate economic growth and development.
He called for a stronger framework for the sector, adding that it was crucial in the emergent regime of economic liberalisation and increasing private sector participation in productive and industrial activities within the economy.
Sambo said that with the recent approval of the housing policy by government, the sector would be better regulated through the provision of an institutional mechanism for regulating standards.
“We are also taking steps to ensure all operations in the sector comply strictly with the provisions of the national building code in order to stem the perceived culture of impunity.
“This will also help to achieve the transformation agenda and Vision 20:2020 which brings to the fore the issue of value-for –money, transparency, probity and accountability within the building and construction sector.’’
The Minister of Works, Mr. Mike Onolememen said that the ministry was prepared to collaborate with indigenous professional bodies willing to improve the capacity of Nigerian construction companies to bring them at par with their foreign counterparts.
Onolememen, who was represented by his Special Assistant, Technical, Mr John Ibe said that the ministry would also ensure that projects were priortised to ensure the early completion of projects initiated.
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