Value of abandoned projects in Nigeria now N17trn – Institute

The Registrar of the Chartered Institute of Project Managers of Nigeria (CIPMN), Mr. Henry Mbadiwe has decried the high rate of abandoned projects in the country, adding that these projects are contributing to stifling economic growth in different sectors. Mbadiwe who made the disclosure while addressing a press conference in Abuja on Monday added that […]

The Registrar of the Chartered Institute of Project Managers of Nigeria (CIPMN), Mr. Henry Mbadiwe has decried the high rate of abandoned projects in the country, adding that these projects are contributing to stifling economic growth in different sectors.

Mbadiwe who made the disclosure while addressing a press conference in Abuja on Monday added that the institute will henceforth go after unlicensed individuals who are currently carrying out projects across the country.

He said, “Abandoned projects in Nigeria stand at over N17 trillion today, and research has shown that the main courses of abandoned projects in Nigeria are lack of articulated vision and objectives that multiple administrations can stand behind, lack of proper project planning from the onset as well as absence of proper budgetary allocation for the project amongst others.”

Speaking on CIMPN’s recent resolve to go after unlicensed project managers, he said, “We will pursue any member practising project management in Nigeria without the CIPMN license and every institution encouraging its members to ignore the law establishing CIPMN in Nigeria.

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“We will pursue every organisation, whether local or international, operating in Nigeria that has individuals leading projects in Nigeria without the CIPMN license as required by law.”

He called on all MDAs of government to take his call seriously, adding, “Since, I believe MDAs cannot ignore extant laws, then I also believe that they cannot allow their contractors and consultants to do the same.”

Mbadiwe further disclosed that enforcement will start in earnest in the first quarter of 2025, adding that about 10,000 individuals are currently handling different projects in the country without licence by the professional body.