President, Quantity Surveyors Registration Board of Nigeria (QSRBN), QS Obafemi Oluwole Onashile, FNIQS, has said that Quantity Surveyors, professionals and businesses must reinvent ways to survive the current turbulent economy in the country.
Onashile stated this at the opening of the national conference and annual general meeting of the Nigeria Institute of Quantity Surveyors (NIQS), at Horlikins Event Centre, Port Harcourt, Rivers State, recently.
The theme of the conference was 'Strengthening the Quantity Surveying Practices and Processes for Sustainable Growth in a Turbulent Economy.'
He said, "Undoubtedly, we are currently confronted with a turbulent economy in Nigeria and as always when confronted with such, you have two alternative options. One you can emigrate to another land whose economy hopefully is not under similar or any turbulence at all, but then you may have to live as a stranger in that land for many years until you are taken in or you return to your home country later upon the cessation of the turbulent times. The other option is to confront and wait the turbulence out. I believe this is the approach the NIQS is trying to prepare us all for and we should thank the Institute for leading the light in the direction.
"Turbulent economy does not last forever. Turbulent times require a very deep reflection. Lifestyles or tastes will change. Production or business types will change as many existing businesses will fold up, whilst others will look for new clients to buy their products or perhaps you sell new products i.e change in products and/or change in pricing.
"New and more efficient businesses will enter the market. There will be a scramble for market share. We are already seeing new developments in Lagos islands being led by Contractors. Contractors now employ design team consultants including the Quantity Surveyor. Developments are now being designed outside Nigeria for Nigerian contractors to execute. A Change or dislocation in the market.
"To stay and survive beyond a turbulent economy as a business or as a professional, there must be a determination to survive/excel and also the readiness to accept a change from the usual. You need to be resilient and exhibit some form of flexibility. Flexibility in the sense of readiness to take on unusual or hitherto rejected undertakings.
"Unusual undertakings, that is, a never done service before but which is now being requested and ready to be paid for. E.g Project management, facility management, project monitoring services, contract management services, Arbitration, Expert Witness, Construction Claims Expert services, Construction Health and Safety Services, Project Scheduling and Project controls. Sometimes, in order to be able to undertake these unusual services, there may be the need to quickly acquire additional capacity by way of further education i.e a post graduate degree or a short-term certification training like those organized by the NIQS Academy or the RICS.
"Some hitherto rejected undertakings, could be in the form of engagement for preparation of Schedule of Dilapidations and Repairs for a Maintenance Work, or engagement for preparation of Schedule of Materials for relatively small projects. These are services that hitherto in good times you would have rejected for lack of availability of time.
"To be resilient may sometimes involve thinking out of the box and bringing in some innovations in order to make a sale. Examples of these can be the carving of a market niche for peculiar services. Undertaking Technical trainings for firms, individuals and other corporate bodies. Authorship/Publication of technical Books. Creation of technical softwares like pricing and estimating software. Publication of periodic price books etc.
"Turbulence is not an end but a process and often a passing phase. It is a dynamic and a reformation phase. It creates chaos but it also creates opportunities. The vast majority look at the chaos and keep complaining about how painful the turbulence is, whilst a very few look at the opportunities the turbulence creates.
"In a dynamic and changing situation I.e in a turbulent economy the best position to be at is at the forefront. Strive to be at the Leadership position so as to be in control of which direction the reformation of the economy may end up especially as concerning your industry. Leadership entails fellowshipping I.e the coming together of people or in other words, collaborations.
"You have to look beyond yourself, beyond your firm, beyond your profession. You have to look at others, especially others who are not too different from your nature that you can team up with to create greater strength that can help confront the turbulent economy. Creating Alliances and professional teeming with your peers or colleagues in the same profession. Joint ventures with a bit dissimilar but complementary organizations where each brings different things to the table to benefit the group.
"Beyond your profession, the leadership of the profession must intentionally reach out to other professions, especially those who need to interact with your profession and in this case, I am referring to the other professions in your industry and for us it is the Building and Engineering Construction Industry. The objective must be how can we collectively make the industry to be better for the betterment of each of our professions.
"There must then be the joint focus of industry leaders represented by the leadership of the constituents' professions on the need for Transformation of the industry for mutual benefits. There is that Law of macroeconomics, that the profitability of any firm is limited by how its industry under which it operates allows.
"Transformation of the entire Industry to enhance higher success and profitability. The Industry leaders must consciously go after combatting the internal weaknesses and external threats confronting them whilst improving on their inner strengths and capturing more opportunities for the industry. For our industry, some of our internal weaknesses and which have remained with us for at least the last three decades will include issues of Collapse Buildings, lack of appropriate funding for building and infrastructure developments, corruption in contracts, usurpation of professional duties, degeneration of the environment, indigent creativity in design, lack of in-depth construction cost planning and control to mention just a few.
"The Nigeria construction industry is so fragmented, without a healthy cohesion. There are so many adversary and self implosion tendencies. So much Inequality and arrogance. An example of such arrogance is exhibited when an architect says what does a QS know about building collapse or what concerns a QS with building collapse? This is not a collaborative attitude with a fellow sojourner in the industry.
"There is therefore a need to win others to your side. To get others to know more about you, your existence, your nature and your capacity. This brings me to the last key issue which is the need to imbibe marketing as a way of life and as a fallout from a turbulent economy.
"The individual quantity surveyor, the QS firm, the NIQS must take in marketing as part of their survival essentials. The principles of marketing must be learnt and practised by all. It must be part of the training to become a qualified quantity surveyor whilst every existing practitioner who has no knowledge of marketing of a profession should endeavor to go learn this to survive.
"At the Quantity Surveyors Registration Board of Nigeria (QSRBN) we would continue the existing strong collaborative support with the NIQS to jointly push the frontiers of the profession, as well as enhance and protect the interests of the quantity surveyors in Nigeria. We are already at the forefront within the industry in championing the necessary transformation required in the Construction Industry."
The President of the Nigerian Institute of Quantity Surveyors (NIQS), QS Kene C Nzekwe, FNIQS, said, "The theme of this National Workshop is a pivotal direction the NIQS is pursuing with so much vigour and dedication. As we all know, the Nigerian economy has been characterized by uncertainty, volatility, and turbulence in recent years, posing significant challenges to the construction industry because of the apparent galloping cost of constructio.
"As Quantity Surveyors, we are at the centre point of providing cost management solutions to these challenges and proffering realistic trajectories to the construction industry in Nigeria. Therefore, this conference aims to interrogate Quantity Surveyors in professional practice, academics, and other industry stakeholders to identify and recommend solutions to these challenges.
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"The development and growth of any country or state is highly dependent on her level of infrastructure development and the commitment of the leadership to continue to ensure infrastructure delivery. To this end, I would like to use this occasion to commend His Excellency the Executive Governor of Rivers State, Sir Siminalayi Fubara for his laudable developmental strides such as the ongoing construction of Port Harcourt Ring Road project. The magnitude of this project traversing six local government areas of the state is a statement that the Governor desires that development quickly reaches every nook and cranny of the state. It is also difficult to miss the numerous road projects completed within this young administration, the funds channelled to health and education infrastructure and the increase in internally generated revenue for the state are all evidence of the commendable efforts of your government thus far. Your dexterity for economic diversity and inclusion through agriculture and foreign direct investment is worthy of note. Well done Sir.
"It is pertinent at this juncture to intimate His Excellency that in a country like Nigeria, where infrastructure development is crucial for economic prosperity and societal well-being, and with the apparent interest of your government to develop infrastructure in various sectors, the role of quantity surveyors cannot be overstated. You can equate Quantity Surveyors to custodians of efficiency, who ensure that all types of construction projects are delivered on time, within budget, and to the highest standards of quality.
"It is in our efforts to further enhance the service delivery of our members that the Institute chose this theme for this conference. Therefore, without doubt the benefits of this workshop cannot be overemphasized."
