W/Bank pledges $300 for housing sector – FG

Vice President, Arch. Namadi Sambo who revealed this while declaring open the 2014 annual conference of Registered Quantity Surveyors in Abuja, explained that the loan would spread through a period of 40 years at zero interest with up to 10 years grace.The theme of this year’s conference is “global perspective on quantity surveying, cost engineering […]

Vice President, Arch. Namadi Sambo who revealed this while declaring open the 2014 annual conference of Registered Quantity Surveyors in Abuja, explained that the loan would spread through a period of 40 years at zero interest with up to 10 years grace.
The theme of this year’s conference is “global perspective on quantity surveying, cost engineering and project management,” was organised by the Quantity Surveyors Registration Board of Nigeria,
The vice president who was represented by his Special Assistant on Budget Monitoring and Evaluation, Mr. Femi Oladele, said, “we have made various inroads in our quest towards providing adequate housing for our great citizenry.”
According to him, “We have built about 61,000 housing units across the six geo-political zones of the federation to provide affordable, and quality housing for the people.
“We have equally set up the Nigerian Mortgage Refinancing Company, NMRC, under a Public Private Partnership, PPP, arrangement to provide up to 200,000 affordable mortgages to the citizens within the next five years.
“Moreover, the world Bank has agreed to support the federal government with an investment of up US$300 million 40 year loan at zero interest with up to 10 years grace.”
Arch. Namadi noted that, a quantity surveying is about the judicious and accountable use of resources. It is also why members of the guild excel in fields such as project management. The values of these disciplines are well reflected in the policies and practices of this administration across all sectors of the economy.
At the global stage, the vice president urged surveyors “to evolve a synergy with your professional colleagues in order to climes to integrate and harmonise quantity surveying, cost engineering and project management in Nigeria with the rest of the world and in accordance with global standard and international best practice.”
In his address, the President, Quantity Surveyor Registration Board of Nigeria, QSRBN, Mallam Husaini Dikko said there is a need for a paradigm shift in the methodology for determining the cost of public sector construction projects especially for civil and road projects.
He said the conference will throw up issues that will promote the quantity surveying principles of probity, accountability and efficient resource management, value for money, corporate governance and due process as our contribution to national development.