Engineers under the Institute of Appraisers and Cost Engineers (IACE) have urged governments and organisations to adopt stronger engineering valuation, cost engineering and engineering economy practices to curb project cost overruns, reduce waste and improve efficiency in Nigeria.
The appeal was made during the 2026 National Technical Conference of the IACE held in Abuja, themed “Engineering Valuation, Cost Engineering and Engineering Economy Solutions in Emerging Economies.”
Speaking at the event, President of the Nigerian Society of Engineers (NSE), Engr. Ali Rabiu, represented by Engr. Dauda Musa, said countries around the world face increasing pressure to make the most of limited resources while addressing rising infrastructure needs, economic growth and improved living standards.
He noted that for emerging economies like Nigeria, effective engineering valuation, cost optimisation and sound economic analysis are essential to ensuring that public and private investments deliver lasting value and sustainable development.
Rabiu added that the conference offered a platform for professionals to exchange ideas, share experiences and identify innovative strategies for managing scarce resources more efficiently, speeding up infrastructure delivery and supporting national development.
Also speaking, the outgoing National Chairman of the Institute, Engr. Ike Iwenofu, said integrating engineering valuation, cost engineering and engineering economy provides a practical framework for improving project efficiency, minimising waste and maintaining better control over project budgets and timelines.
