NIQS seeks EFCC’S collaboration on contract fraud, abandoned projects
THE Nigerian Institute of Quantity Surveyors ( NIQS) plans to forge collaboration with the Economic Crimes and Financial Commission ( EFCC) that will ensure transparency and accountability on infrastructural projects.
NIQS President, Kene Nzekwe, who disclosed this during a visit to the EFCC Executive Chairman, Mr Ola Olukoyede, said the synergy will improve the value for money spent on public infrastructure by increasing transparency in the delivery of construction projects.
He said: “We are here amidst a crucial juncture in Nigeria's journey towards sustainable development, where the allocation of significant budgetary resources towards infrastructure projects offers a beacon of hope for progress and prosperity.
“Yet, this optimism is marred by the pervasive spectre of corruption that continues to plague our procurement processes, hindering the timely and effective delivery of essential projects to our citizens.”
According to Nzekwe, with the 2024 budget allocating a staggering N1.33 trillion towards infrastructure spending, and the approval of the Renewed Hope Infrastructure Development Fund by the Federal Government, there exists a palpable sense of optimism regarding the transformative potential of these investments.
“This optimism is tempered by the harsh reality that corruption continues to erode the efficacy and impact of our procurement processes, depriving citizens of the basic services they so rightfully deserve. As custodians of accountability and transparency, we must confront the stark reality of corruption within our midst.
“The construction and infrastructure sector stands as a battleground where the forces of integrity clash with the scourge of malfeasance. The findings of Transparency International and the Construction Sector Transparency Initiative ( COST) serve as a sobering reminder of the pervasive nature of corruption within our midst,” he said.
With construction ranking first across all types of bribery, the stakes could not be higher. COST'S estimation that up to $ 5 trillion could be lost yearly to corruption in construction worldwide by 2030 underscores the gravity of the situation, revealing a landscape rife with instances of contract inflation, embezzlement, and the abandonment of vital projects.
He said the litany of allegations surrounding contract inflation and embezzlement
of funds meant for infrastructure projects paints a damning portrait of systemic corruption. “From inflated project costs to substandard workmanship, the misallocation of public funds represents a betrayal of the trust placed in our government by the Nigerian people. The spectre of abandoned infrastructure projects further underscores the human toll of corruption, leaving communities languishing in a state of neglect
and despair.
“Moreover, recent probes into institutions such as the Niger Delta Development Commission ( NDDC) by the 9th Assembly offered a chilling glimpse into the depths of financial irregularities and contract fraud that pervade our procurement landscape. With reports of financial irregularities and contract fraud running rampant, it is abundantly clear that the status quo is untenable. The Nigerian people
demand and deserve swift as well as decisive action to root out corruption and restore integrity to our public institutions,” he said. NIQS sought the support of EFCC to combat corruption and proposed a range of initiatives, from capacity building and training for the commission personnel to the provision of professional assistance in navigating complex procurement challenges.