56,000 construction projects worth N12tn abandoned nationwide – NIQS
About 56,000 construction projects belonging to private and public sector organisations valued at N12tn have been abandoned across the country, according to the Nigerian Institute of Quantity Surveyors.
President of NIQS, Abba Tor, recently said findings by the institute showed that most of the projects were abandoned due to poor research on the monetary estimates required for them.
According to a statement issued by the NIQS in Abuja, Tor, who spoke at a workshop, said private and public sector organisations should strive to deliver projects promptly.
“There is the presence of 56,000 abandoned projects worth N12tn scattered across the six geopolitical zones of the country,” he stated.
The NIQS president said the institute was committed to curbing the incidence of project failure and abandonment through the provision of effective construction estimates.
Tor, stated that the key to reducing project failure and abandonment was in well researched and thoroughly conducted construction estimates.
Commenting on why some of the abandoned projects exceeded their original contract frame, Tor stated that not all project failures were caused by corruption.
