The Federation of Construction Industry (FOCI) held its 63rd Annual General Meeting (AGM) at the iconic Fraser Hotel and Suites in Abuja, recently.
The event attracted the attendance of the relevant stakeholders of the construction industry in Nigeria, including chief executives, executive directors, and managers of every registered and worthy construction company in Nigeria.
In a report delivered by the President of FOCI governing council, Nasiru Dantata, he stated that it was his second time and honour of conducting the AGM as the President of FOCI, adding that the year 2018/2019 was a mixed one for the Nigerian economy.
Dantata who said that there was a slight recovery in services and industry particularly mining, quarrying and manufacturing, also added that there was greater availability of eoreign exchange.
“Despite the delayed signing of the 2018 national budget, which caused some increased fiscal uncertainty, it is heartwarming to note that in spite of this shaky start, the fiscal deficit narrowed in 2018.
While commenting on the impact of the budget on construction industry, he said that: “With the budget of Continuity” of N8.92 trillion which was signed into law on May 27, 2019, “the real GDP is projected to grow by 2.3 per cent in 2019 to 2.4 per cent in 2020 as implementation of the Economic Recovery and Growth Plan gains pace…. We are hopeful that the Construction Industry will grow to the next level and we expect some stability due to the continuity in government.”
Dantata expressed appreciation for peaceful and cordial industrial relations within the Construction Industry saying that the National Joint Industrial Council shall negotiate terms and conditions for Employees this year.
The President of the Nigerian Institute of Building, Kenneth Nnabuife Nduka, in his goodwill message, enjoined FOCI members to pursue excellence in resource mobilisation and utilisation to prevent structure collapse. He also urged government and other clients to avoid delay of valid certificates and pay FOCI members as and when due. This he said would prevent injurious cost overruns on contractor revenues, and guarantee desirable corporate stability and sustenability.
On his part, the Director-General of the Nigerian Employers Consultative Association (NECA), Mr. Olawale Timothy, eulogised the symbiotic relationship between FOCI and NECA. He urged FOCI to continue its important mandate of standing in the gap for organised business and its teeming workforce, to deliver value for all stakeholders. He also urged FOCI members to continue their progressive support for the body.