Abandoned projects taking a toll on economy — CIPMN

The Chartered Institute of Project Managers of Nigeria (CIPMN) have frowned at the rising trend of abandoned projects in Nigeria, adding that it is taking a toll on the overall performance of the country’s economy.

The Registrar of CIPMN, Mr Henry Ifeanyi Mbadiwe, who stated this in Abuja yesterday at the ongoing training and induction for new members with the theme “Project Management at the Centre of Sustainable Development, Innovation and Entrepreneurship in Nigeria” said the institute will look into the root cause of why many projects were abandoned and how it can be prevented.

Mbadiwe said “There are so many projects across the country, which have been stalled either due to contract variations or other factors and most of those projects are critical to economic viability and growth, and subsequent administration or government will do nothing about it but commence ones, which is one of the major reasons causing economic retardation.

“Therefore, project managers are crucial to ensure proper planning and execution of projects across the country to investigate what has caused the abandonment of different projects, and we are already working towards providing practical solutions to the government because some of these projects scattered across the country would have contributed meaningfully to Gross Domestic Product,” he said.

Also speaking, CIPMN President, Prince Akin Babalola says there is an urgent need to develop innovative solutions that will ensure entrepreneurship growth, which will in turn stimulate growth, adding that the Institute is willing to partner with government at all levels in driving economic growth in the country.