The Nigerian Institute of Quantity Surveyors has warned that widespread corruption within the housing and financial sectors is undermining Nigeria’s mortgage system, making homeownership increasingly unattainable for many citizens.
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To this end, the General Secretary of the Nigerian Institute of Quantity Surveyors, Azeez Ayodabo, has urged the Federal Government to review its policies on the mortgage system in the country.
He made this call at a press briefing at the Nigerian Institute of Quantity Surveyors, Lagos Chapter, in commemoration of its golden jubilee celebration.
He said, “The government should review its policies to make mortgage access more flexible. Thresholds should be adjusted according to income categories. People should be able to access mortgage loans based on what they earn. For instance, the government shouldn’t advertise a three-bedroom maisonette and expect a level six or level seven civil servant to buy it. It’s unrealistic. Housing schemes should be designed in categories, bungalows, flats, terraces, and duplexes, allowing citizens to choose what fits their income. That way, it becomes a win-win situation for everyone, not just the affluent.
“Another challenge is the lack of information. The Federal Mortgage Bank of Nigeria provides long-term mortgage windows of up to 30 years, depending on the applicant’s age and income, but this information is not widely available. Additionally, corruption has also eaten deep into the mortgage system. Many people exploit government connections to access loans meant for the public.
So yes, corruption has eroded the mortgage system. For instance, in the past, between 2006 and 2009, developers who received government housing loans were supposed to build and sell three-bedroom bungalows for N7.5m. Instead, many diverted the funds and failed to deliver the houses, even after subscribers had started paying through mortgage deductions from their salaries. That’s why the government had to stop that system and take direct control of mortgage applications. So, it’s not only the government that’s at fault; citizens also have a role to play.
“When it comes to affordability, this is where we say there’s a need to engage the services of quantity surveyors. One of the biggest mistakes being made today is that people engage QSs only for part of a project, just to prepare the Bill of Quantities, and then exclude them afterwards. This leads to a lack of cost control and wastage. The QS plays a critical role in ensuring quality and preventing corner-cutting. For instance, if 16 mm reinforcement is specified and the contractor substitutes a lower grade, a quantity surveyor on site can identify it through valuation and documentation checks. This creates accountability and ensures project integrity. The role of the quantity surveyor is vast and indispensable. We therefore urge the government and the general public to recognise and engage the right professionals in their rightful capacities.”
Speaking on the importance of quantity surveyors, the Chairman of the chapter, Rilwan Balogun, noted that there was a need for deeper engagement of quantity surveyors, especially in infrastructure development.
He explained, “Too often, their expertise is limited to building projects, while vast opportunities exist in civil engineering, heavy engineering, oil and gas, and other major infrastructure sectors. The call to action is for greater inclusion because by engaging consortiums, government and private clients alike can achieve better value for money, promote transparency, and ensure economic efficiency.
“The current government’s Renewed Hope Agenda seeks to reposition the economy, but this goal cannot be realised without the technical and financial discipline that QS consortiums bring. The controversy surrounding projects like the Lagos–Calabar Coastal Highway highlights the importance of early QS involvement, from design to execution. Had consortiums been part of the process from inception, issues around inflated costs and lack of transparency could have been avoided. When engineers alone design, estimate, and execute, the essential checks and balances that ensure cost control and accountability are lost.
“This imbalance is also reflected in the ongoing debate between the Bill of Quantities and the Bill of Mechanical and Electrical. The globally recognised document is the BOQ, prepared by the quantity surveyor or cost engineer, not the BME, which is only used in Nigeria. A properly prepared BOQ is comprehensive, detailed, and transparent, covering every nail, bolt, and reinforcement needed for construction, whereas BMEs often lack depth and clarity. The BOQ ensures precision and limits cost deviation to about five per cent, while BME documents can lead to massive variations and wastage. Thus, it is crucial to reaffirm that cost estimation, valuation, and control are the core responsibilities of the quantity surveyor.
“On the issue of building collapse, the perception that quantity surveyors have no role is misguided. In reality, QSs play a preventive role by detailing material specifications and workmanship standards within the BOQ. Unfortunately, contractors or clients sometimes circumvent these specifications to cut costs, substituting lower-grade materials or using fewer reinforcements, ultimately compromising structural integrity. Therefore, the government should mandate the submission of BOQs as part of building approval processes. This would allow authorities to assess not only the project’s cost but also the developer’s financial capacity to execute it, thereby reducing incidents of abandoned or substandard constructions. The inclusion of QSs in the Building Collapse Prevention Guild further affirms their vital role in ensuring quality and safety in the built environment.”
On the advent of technology, the Deputy Chairman, Femi Falusi, noted that the challenges were more complex.
He said, “As my chairman rightly said, with the rise of technology, many allied professionals now believe they can perform the work of QSs. This has led to widespread encroachment on our professional space. Since QS software is now accessible, some non-QSs use it to prepare bills of quantities and attempt to perform cost estimation roles. This has intensified competition, as we now have more professionals and outsiders competing for fewer available jobs.
“To address this, we are advocating for stronger policy measures. Through initiatives like the DLA, we aim to influence government policy to make it mandatory that all bills of quantities or cost estimates submitted for building approval must be prepared and stamped by a registered quantity surveyor. If such a policy is enforced, it will help curb professional encroachment and ensure accountability.
“Finally, as we look to the future, we recognise that technology is here to stay. It brings both opportunities and challenges. That is why, at the chapter level, we continue to encourage our members to upskill, embrace innovation, and adopt digital tools to enhance their professional competence and remain relevant in this evolving industry.”
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