BUILDING COLLAPSE: Only quality construction ‘ll boost investor confidence [Opinion]

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By Kingsley Adegboye

Though the building and construction industry in Nigeria has, over the years, enjoyed enormous interest from the public who, most of the time, have committed sizable resources to patronize its operators, the industry has also seen occasional incidents that put public trust and confidence to test.

Amid daunting challenges, the industry is doing well in terms of growth. The latest GDP figures from the National Bureau of Statistics (NBS) showed the industry grew by four per cent in the second quarter of 2021 with a projected 2-8 per cent annual growth over the next four years (2022-2025).

However, in the last five years, the same industry has witnessed four major building failures that raised questions on the quality of construction.

The collapse of Lekki Gardens 7-floor building in March 2016, which claimed about 34 lives; the November 1, 2021 collapse of a 21-storey building in Ikoyi, Lagos that killed 45 people, including the developer, and…

Source: Vanguard Newspaper