An Estate Surveyor and Valuer ESV Flora Ebelechukwu Ezeoke said Facilities Management (FM) in Nigeria is experiencing significant growth and transformation.
ESV Ezeoke made the disclosure yesterday in Abuja .
She said the transformation is driven by urbanization, technological advancements and a heightened focus on sustainability.
She noted that despite facing challenges such as infrastructure deficits and shortage of skilled professionals, the sector is poised for substantial development.
She noted that the market growth and economic impact as of 2024, Nigeria’s facilities management market was valued at approximately $2.5 billion, with projections indicating growth to $3.98 billion by 2032, representing a compound annual growth rate (CAGR) of 8.5%.
This expansion is fueled by rapid developments in commercial real estate, industrial sectors, and healthcare infrastructure.
“For instance, Lagos alone recorded over 500,000 square meters of new commercial real estate space in 2023, with a significant portion requiring professional Facilities management services”.
Key Drivers of Facilities management Practice Urbanization and Infrastructure Development: The increasing urban population necessitates the development of residential and commercial properties, thereby boosting demand for FM services.
Technological Advancements: The adoption of smart building technologies and Internet of Things (IoT) solutions enhances operational efficiency and energy management in facilities.Sustainability and ESG and Integration Nigeria’s commitment to net-zero emissions by 2060 encourages the integration of renewable energy sources and sustainable practices in FM operations.
Challenges Facing the Facilities management Sector.
Skilled Workforce Shortage: Nigeria requires at least 250,000 professionally trained facility managers to effectively manage its infrastructure, yet currently has fewer than 10,000.
Infrastructure Deficiencies: Frequent power grid failures and aging infrastructure impede efficient facility management and economic growth.
Economic Instability: High inflation and interest rates have adversely affected sectors like manufacturing, indirectly impacting FM services.
Regulatory and Institutional Developments
The proposed bill to establish the Nigerian Institute of Facilities Management aims to standardize practices and enhance professional training in the sector. This initiative is expected to improve maintenance standards and reduce infrastructure deterioration.
She emphasized that the future outlook of facilities management sector in Nigeria is set for continued growth, driven by technological integration, sustainability initiatives, and increased investment in infrastructure.
She insisted that addressing challenges such as workforce development and infrastructure deficits will be crucial for the sector to realize its full potential.
