The new Nigeria Construction Awards has kicked off in the country in search for the most innovative and creative firms and individuals with the aim of recognizing them. The awards will be conducted at the Eko Hotel and suites, Victoria Island, Lagos on the 20th day of November this year.
The Nigeria Construction awards are intended to recognize and honor companies and individuals for their accomplishments, strides and contribution to the growth of this industry. The publisher of Instinct Business magazine, Instinct Wave, is the organizer of the highly recognized and successful Marketing World Awards and Africa Brand Conference.
The awards ceremony is solemnly intended to present an opportunity for stakeholders and advocate for the industrialization of the country through investment in the areas of civil engineering, building, industrial, residential construction and beautification. Nonetheless, improving public services, developing tourism sector, improving transportation, creating new employment opportunity and wiping out poverty could be linked to the construction industry.
Furthermore, the rapid urbanization led by the ever growing population and the increasing demand for housing and infrastructure in Nigeria, the construction industry has however considered the growth such that analysis describe the industry as Africa’s largest construction market which grew by 13% in 2012 and is also expected to grow at the fastest rate in the world by 2020.
According to Instinct Wave CEO, Akin Naphtal, the industry contribution to the economy is about 3.2% of Gross Domestic Product (GDP) and has brought about the veritable index in terms of employment for both skilled and unskilled persons. He further added that, the industry has been overlooked in terms of rewarding innovation and creativity that contributes to the country’s infrastructure development transformation.
With only few foreign companies in the country, organized construction began in the early 1940’s, as years went by construction and demand for construction services grew increasingly opening more opportunity to foreign and local investors with the agenda to drive the country’s economy growth.
However, various categories of awards are being considered for different aspects of construction work, companies and individuals including Industry Personality of the Year; Lifetime Achievement Award; Excellence Award for Women in Construction; Construction CEO of the Year; Real Estate Entrepreneur of the Year; Construction Company of the Year; Public Private Partnership of the Year; Best Local Contractor; Concrete Producer of the Year; Block Manufacturing Company of the Year, Best Infrastructure Development Bank Award among others.