A building and civil engineering company, Construction Kaiser Limited has expressed worry with the inability of local construction industries to sustain their business.
Executive vice-chairman of Kaiser, Engr. Igbuan Okaisabor gave the concern during the company?s 20th anniversary held in Lagos.
He said: ?As research has shown, entrepreneurship is very challenging, only 20% of start-ups make it past the 5th year in the western world, yet here we are celebrating our 20th anniversary in an environment that is very challenging to do business, for various reasons you can identify with.
?I wondered why Nigerians could not establish and grow construction companies that could work to high standards, and indeed, at a lower price, since we could eliminate the overheads associated with keeping expatriates in Nigeria.
?This has been made worse by little or no investment in the country?s educational sector over the last 30 years. Recognizing this, we have embarked on local and international training of our engineers and management to continuously improve our project delivery.?
The keynote address speaker, Engr K. Adeola flayed inadequate financial support for the non-sustainability of the local companies.
He said: ?There are thousands of engineers and most of them are working in other sectors because they have limited opportunity in the field they are trained. We need to boost engineers in the Small Scale Enterprise. There is inadequate capacity building and banks are not willing to help local contractors.?