Professionals within the Institute of Appraisers and Cost Engineers (IACE) are urging for a more rigorous application of engineering valuation and cost management techniques. The goal is to mitigate budget inflation, resource waste, and operational inefficiencies within Nigerian infrastructure projects.
These recommendations were introduced during the 2026 National Technical Conference in Abuja, which focused on utilizing economic and valuation solutions within developing markets. Speaking on behalf of Nigerian Society of Engineers President Ali Rabiu, Engr. Dauda Musa emphasized that global nations face the dual pressure of limited funds and high infrastructure demands. He noted that in regions like Nigeria, precise financial analysis and cost control are vital to ensure investments yield long-term benefits.
The event served as a platform for experts to discuss modern strategies for resource management and infrastructure advancement. Outgoing National Chairman of the IACE, Engr. Ike Iwenofu, stressed that integrating valuation and cost engineering creates a structured approach to keep project timelines on track while minimizing unnecessary expenditure.