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Construction industry reduced unemployment — FOCI

The Director General of the Federation of Construction Industry (FOCI), Mrs. Olubunmi Adekoje, has said that the construction industry in Nigeria has been a strong economic partner to government in the development of the country.

Mrs. Adejoke stated this recently when the association paid a visit to the Minister of Power, Works and Housing, Babatunde Fashola, in Abuja.

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She said the multiplier effect of the industry had brought economic empowerment and development all over the country, but noted that, presently, the construction industry was in a prostrate state due to the adverse effect caused by accumulated delays in payment for contracts executed, which she advised must be looked into with a view to finding a solution.

“We recall that as at 2015 many FOCI members were distressed as a result of huge debts of over N600bn owed by the government. We appreciate the effort of the current government in payment of a substantial amount of this debt. We also acknowledge the creative provision of funds for capital projects, in particular, the Sukuk Bond to finance infrastructure.

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“The above initiatives have brought immerse relief to our members. Also, worthy of appreciation are the results obtained in a number of fields like the ease of doing business, the business confidence in Nigeria and the Corruption Perception Index (CPI) which are all proof of a slow but systematic improvement and change in the way the system works now,” she said.

She further said FOCI which was incorporated in 1954, and currently with 100 members, had a very high capacity for employing a large number of professionals: technicians and tradesmen, and that it was the largest employer of labour after government.


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