The Chief Executive Officer of Elan Exhibitions West Africa Limited and Convener of the Mega Project Nigeria Expo, Jude Chime, who also chairs the Nigerian Association of Chambers of Commerce, Industry, Mines and Agriculture Trade Fair Committee, speaks with ANOZIE EGOLE on the challenges facing Nigeria’s construction sector and the policy interventions required to accelerate sustainable growth and infrastructure development
How have persistent inflation and exchange rate volatility impacted construction costs, project delivery and profitability in Nigeria?
There’s no doubt the impact has been significant. If you speak to any contractor, developer or supplier today, they’ll tell you that the cost of doing business has changed dramatically over the past two years.
We’ve seen sharp increases in the prices of reinforcement steel, electrical cables, aluminium products, imported elevators, HVAC systems, glazing materials and many other essential construction components. In some cases, quotations prepared at the beginning of a project are
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