By Benson Daniel
Engineering professionals have called for stronger cost control mechanisms and improved project valuation practices as critical measures to enhance the successful delivery of infrastructure projects across Nigeria.
The experts made the call during an industry engagement where they stressed that effective cost management remains one of the most important factors in ensuring projects are completed on schedule, within budget and to the required quality standards.
According to the engineers, many public and private sector projects continue to experience delays, budget overruns and scope changes due to inadequate planning, poor cost estimation and weak financial monitoring throughout the project lifecycle.
They noted that adopting internationally recognised valuation standards and strengthening collaboration between engineers, quantity surveyors, project managers and financial experts would significantly improve project outcomes while reducing waste and unnecessary expenditure.
The professionals explained that proper project valuation enables stakeholders to accurately assess project costs, monitor expenditure and make informed decisions at every stage of construction. They added that transparent valuation systems also enhance accountability, reduce disputes among contractors and clients, and improve investor confidence in infrastructure development.
The engineers further emphasised the importance of deploying digital technologies, including Building Information Modelling (BIM), project management software and data driven cost estimation tools, to improve planning, budgeting and project execution. They said technology can help identify potential cost risks early, allowing project teams to take corrective actions before challenges escalate.
They also urged government agencies, private developers and financial institutions to strengthen oversight of infrastructure investments through regular project audits, performance monitoring and strict compliance with procurement regulations.
Industry stakeholders observed that rising inflation, foreign exchange volatility and increasing prices of construction materials have made effective cost control even more essential for the sustainability of ongoing and future projects.
The experts encouraged continuous professional training for engineers and other built environment practitioners to ensure they remain updated on modern valuation techniques, risk management strategies and global best practices in project delivery.
They maintained that improving cost control and project valuation would not only reduce abandoned projects but also increase efficiency, attract greater investment into Nigeria’s infrastructure sector and deliver better value for taxpayers and investors.
The engineers concluded that sustained collaboration among government, regulatory agencies, professional bodies and the private sector will be necessary to establish stronger project governance frameworks capable of supporting long term national development.
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