The Institute of Appraisal and Cost Engineers, a division of the Nigerian Society of Engineers, NSE, has charged accredited cost engineers, engineering valuers and engineering economists to embrace digital innovation in their work as new technologies change the way businesses operate.
The new Chairman of IA&CE, Engr. Ike Iwenofu gave the charge in Abuja yesterday at the institute’s 2022 National Technical Conference and Investiture with the theme: Cost Engineering, Engineering valuation and economy perspective on advancing the frontier of communication and digital economy in Nigeria.
Engr. Iwenofu stated that “new technologies are changing the way businesses operate and plant and machinery will continue to experience digital innovations and may likely go hi-tech and data driven than ever. As companies and markets embrace digital transformation, the institute challenges all accredited cost engineers to keep up with emerging technologies and always strive to improve and re-tool for the future”.
He explained that cost engineering could be considered as adjunct to traditional engineering as it recognizes and focuses on the relationship between the physical and cost dimensions of whatever is being engineered.
Speaking earlier, the outgoing Chairman, IA&CE, Engr. Charles Mbelede, said the 2022 conference focused on driving digital economy, saying, “cost engineering, engineering valuation and engineering economy principles when properly applied with attention to professional details would enhance the advancement of the frontiers of communication and digital economy in Nigeria”.
Engr. Mbelede pointed out that it is an offence punishable by law to practice any of the categories of Cost Engineering, Engineering Appraisal/Valuation and Engineering Economy if one is not accredited by IA&CE.
Also speaking, President, Nigerian Society of Engineers (NSE), Engr. Tasiu Wudil, represented by the vice president, NSE, Engr. Yakubu Garba, disclosed that only 17 percent of registered engineers in the country were paying their annual fees.
According to him, the level of indebtedness has grown to N3 billion.
He said there is the need for engineers to support IA&CE to reach its potential.
On his part, the Minister of Communication and Digital Economy, Isa Pantami, who was represented by the Director, Spectrum Management, in the ministry, Engr. Joseph Anagonye, said the quest of the cost engineers is in line with the government’s will to create more digital jobs.
He noted that the ICT sector contributed 17.92 per cent of GDP in the first quarter of this year adding that there is the need to fill more gaps in promoting the digital economy. I therefore urge this institute to use this platform for researchers, practitioners and educators to research on the current trends for cost engineering in promoting communication and digital economy.
