Chairman of the Institute of Appraisal and Cost Engineers of the Nigerian Society of Engineers (NSE), Engr. Charles Mbelede, has urged the federal government to use cost engineers to help speed up economic diversification.

Mbelede who stated this at the 2017 National Technical Conference and Investiture in Abuja, said the key to successful projects is getting their cost right at the procurement stage.

The expert explained that what is required to diversify the economy “is sound and effective application of professional expertise for managing cost of projects by accredited cost engineers guided by cost engineering principles. “We believe that engineering valuations, costing and economic principles when properly applied with attention to professional details will enhance economic growth and diversification of the Nigerian economy,” Mbelede noted.

He blamed the high number of abandoned projects on lack of adequate funding, stating that most projects were designed with fund which the government may not have.

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