To enable indigenous construction firms survive and contribute to economic growth, government must create policies that will enable them build capacity for competitiveness.
This is noted was necessary, otherwise foreign construction companies will continue to dominate the sector, undermine local capacity and encourage capital flight, which does not help the economy.
Bola’ Ghaffar Badmus, managing partner, Oxlade Construction Company Limited (OCCL) who made the remark during interaction with journalists said Nigeria’s Infrastructure and Construction industry today, is still at a crossroad because government policies all these years have been in favour of foreign construction firms instead of developing and growing their national counterparts.
“There is no future for indigenous companies in Nigeria’s construction industry with this foreign companies controlling and stifling them away.”
Badmus observed that indigenous construction companies need new Bills that will protect their interest and guarantee them a sustainable growth in the Nigerian Construction industry.
“The Federal Government, through its Construction Industry Bill should make it totally illegal for both governmental and non-governmental entities to award contracts to any foreign construction company, without an affiliation or partnership with an indigenous construction firm.” These contracts are being paid with the tax payers’ money and it’s so unfair. By creating this bill, our construction industry would gain more attraction of local private investors, whose potential have been subdued by the overpowering foreign companies, and hence, help local construction firms develop technical competence via knowledge management, Badmus argued.
He said at Oxlade Construction Company Limited, we are committed to creating with international standard, a modern urban centrality for the sustainable development of the African continent, where natural beauty and great architecture must emerge together to create an environment that is alive and productive. “We are generating a revolutionary approach to urbanization in Africa and championing the private sector role in projects of significant magnitude, thereby creating construction jobs and full time standard paid jobs.”
According to him, Oxlade believes that architecture can affirm a society’s best aspirations and a client’s cherished goals. We strive to create projects that offer our clients and the public, measurable advantages – whether that means a building that stands out in the skyline and attracts the tenants, or one that embodies the beauty of using resources lightly, Badmus said.
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