The Facilities Management in Nigeria is developing and becoming a major contributor to the economy, but lack of its recognition is a drawback.

The Managing Director, Global Property and Facilities International Ltd, Dr. Muhammed Balogun stated this at this year’s World Facility Management Day and 15th year anniversary of the company held in Lagos recently.

He stated that Real Estate is valued at about N1.5T, with a projected growth rate of more than 5%. Facilities Management is a major component that is yet to be classified and valued as a contributor to GDP, he said.

He stated that lack of regulation and structure in the Facilities Management industry is a cause for concern but that his company has over the years been at the fore of the industry’s development.

The firm, he said did this through its “pioneering
effort at recognizing and celebrating annual World FM Day in Nigeria since 2009. In 2010, in partnership with others, organized the first ever international conference on facilities management in West Africa. In 2013, we championed the creation of an African Institute of facilities management and are currently supporting the creation and registration of Nigerian Institute of Facilities Management.

He appealed to the present members of the National Assembly to “support our desire by working with us to create and pass the bill for the creation of this institute as quickly as possible.”

He said more than ever before, Nigeria needs to focus on management rather than new development due to dwindling revenue. “States and the Federal Government should create agencies or departments of facilities management as did the FCT and Lagos that will help focus resources to operating and managing infrastructure thereby cutting huge annual budgetary allocations to building new infrastructure instead of maintaining the current ones.”