The Nigerian Institute of Quantity Surveyors has stated that the Lagos-Calabar Coastal Highway compensation process lacked transparency.

The Chairman of the Nigerian Institute of Quantity Surveyors, Lagos Chapter, Olarewaju Farotimi, said the compensation process was shrouded in secrecy.

He disclosed this at a press briefing announcing the Nigerian Institute of Quantity Surveyors Lagos State Chapter?s 2024 Annual QS week, themed ?Quantity Surveyors? Contribution to Nigeria?s Economic Transformation Agenda, which was held recently in Lagos.

He said, ?If a quantity surveyor prepares a bill, you will see the details. We have a section of the bill called ?preliminary?, where you itemise all enabling works. Hence, all the settlements and compensations would be clearly stated, disclosing the number of people being compensated, and the affected property?s value, among others.

?Therefore, there would be transparency, but where you have a lump sum of compensation, from N8bn to N18bn. What is the basis for that? That is why corruption is so endemic in these projects, this is why as quantity surveyors, we would continue to cry until our voices are heard and the right thing is done. Hence, there is a lack of transparency in the compensation process.?

Buttressing the chairman?s position, the General Secretary of the Lagos State Chapter of the institute, Folusho Ogunrinde, said apart from lack of transparency, lack of due diligence added to the problem.

He posited, ?Compensation is done so that citizens can go ahead and re-purchase in place of lost assets. Now, what is the rebuilding cost of a demolished building? I can tell you that quantity surveyors are in the best position to carry out such a valuation. However, quantity surveyors have not been engaged to identify the cost of all of these buildings that are being demolished which is why the figures are guesstimate.

?We know that the market value is different from the way the government values assets, and as such those compensations are undervalued. These are the issues and reasons we are clamouring that quantity surveyors must be involved in asset valuation. The work is not the responsibility of estate valuers. Rebuild cost is also part of the functions of quantity surveyors.?

Farotimi said quantity surveyors were essential professionals in the construction industry, responsible for managing costs, ensuring value for money, and optimising resources.

He added, ?Their expertise is crucial in infrastructure development, as they help deliver projects on time, within budget and to the required quality standards.

?Additionally, by ensuring the efficient use of resources, quantity surveyors contribute to economic growth and development. The construction industry, of which quantity surveyors are an integral part, is also a significant employer of labour in Nigeria, playing a vital role in job creation.? (The PUNCH)

Update news