Abuja — The Nigerian Institute of Management (NIM) says it will need about N1billion to construct its proposed Abuja office which will serve as a centre for excellence.

The President of the Institute, Sir Peter Edeoghon, said the money will be sourced from members of the institute as well as other well wishers. To achieve the target sum, Sir Edeoghon said a fund raising committee has been raised to mobilise resources for the edifice which will meet international standards. He said funds raising for the Abuja office started since February and that they have secured a land for the structure from the Federal Capital Territory Adminis-tration (FCTA).

Edeoghon said: "We intend to raise fund for the building by tasking our members and soliciting from our members in government for help. What we need is not less than N1billion naira.

He said that the new management house would contain an administrative block, six class rooms with modern equipment and hostel for resident students.

"The conference room we are thinking of would be able to contain about 1, 000 to 2, 000 people", the President said.

He said by the time the institute's building is constructed, management courses that are obtained overseas will be domesticated.

"We will train people on development management courses that could promote excellence. We intend to domesticate overseas courses since overseas courses we offer are getting smaller", he said.

NIM is one of the largest professional bodies in Nigeria with over 100, 000 members, but is the only association that is yet to have an office in Abuja, the nation's federal capital territory.