FOCI: Construction Industry Faces Collapse over Funding, Payment Crises

The Federation of Construction Industry (FOCI) has warned that the Nigerian construction industry is facing a serious crisis due to inadequate and unpredictable funding, delayed payments, and rising operating costs. In a communiqué issued after its 70th Annual General Meeting, FOCI urged urgent government intervention to prevent total collapse of the sector. The association attributed the slow pace of construction activities to the gap between annual budgetary provisions and actual cash releases for infrastructure projects, and noted that many projects are awarded without adequate multi-year funding. FOCI also reported that job losses have impacted over 1,000 senior staff and 40,000 junior workers.

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