Featured Post

PROFILE : My journey to Professional Registration - Innocent Gininda

Posted by on
Innocent Gininda shares his journey to becoming a registered Professional Engineer (PrEng), emphasizing the importance of mentorship, early preparation, and understanding ECSA requirements. He offers advice to aspiring PrEngs, highlighting the value of diverse feedback and a positive mindset. My journey to becoming a registered Professional Engineer (PrEng) culminated successfully in November 2024. I was fortunate to begin my career at a company with a Commitment and Undertaking (C&U) Agreement with ECSA and a robust mentorship program. This commitment to training engineers to the standard required for Professional Registration provided me with essential resources and a structured path to track my experience against ECSA requirements. Early exposure to these expectations instilled a positive outlook on registration and solidified my desire to achieve this milestone. My views on Professional Registration have remained consistently positive throughout this journey. Working alongside ...
2

NEWS: Nigeria’s construction industry to return to growth after painful year

Posted by on
The Nigerian Construction industry decline in 2020 was caused by Covid-19 restrictions and a drop in demand for oil and gas, which accounts for 65% of government revenues.


According to economic analyst Global Data Nigeria’s construction market is due to increase 3.2% annually between 2022 and 2025, supported by state investment in the infrastructure and energy sector.

To oversee infrastructure investment, the government has created Infra-Co, a $2.7bn fund backed by the central bank, the Nigerian Sovereign Investment Authority and the Africa Finance Corporation.

ALSO READ NEW: How do we use Architecture to achieve sustainable built environments in African cities?

Growth will also be helped by the 2021 Appropriation Bill, which provides a road map for the country’s post-Covid-19 economic recovery.

A third factor in the passage of a Petroleum Industry Bill (PIB), whcih cuts taxes and increases production ceilings.

Dhananjay Sharma, GlobalData analyst, said: “The PIB augurs well for the Nigerian economy in general and the construction sector in particular, given delays in implementing key legislative reforms that have compounded problems for the sector, which is still suffering under the weight of OPEC+ output cuts and the impact of Covid-19.

“Nigeria’s oil and gas construction projects have a combined value of $140bn, of which $89bn relates to projects in the pre-execution stages. If all projects do proceed as planned and spending is evenly distributed over the construction phase, annual spending for 2021 is expected to be $8.2bn and could reach $25bn in 2023.”


Comments

Post a Comment