$4bn wasted annually on corrective projects – CIPMN

The Registrar-General of Chartered Institute of Project Managers of Nigeria, Henry Mbadiwe has called for strict compliance to project management principles in Nigeria, noting that that about $4bn is wasted annually on corrective projects Mbadiwe made the disclosure in Abuja on Tuesday at the CIPMN 2025 Annual Conference and 6th Induction Ceremony with the theme: “Regulating Project Management in Nigeria: Policy Dialogue.” Speaking on professionalism, he said, “We need to grow this profession. You cannot manage a project in Nigeria, lead a project in Nigeria, if you are not licensed by this Institute. A recent report was which was published show that there is about N17tn in abandoned projects in Nigeria.

“In the same vein, the World Bank published a report where $4 billion is being wasted yearly on corrective works on projects. So a project has been commissioned, designed and made a mistake to correct it, $4 billion which is ridiculous.

“Our Act has been signed into law by the National Assembly, and assente by Mr. President, to ensure that we regulate the project management space,

“CIPMN will determine how to license the project management practitioners in Nigeria. Not only that, the law says that if you are a project manager abroad, you have certificates abroad, and you come to Nigeria to practice, the law says that you must go and register as a member of the Chartered Institute of Project Managers of Nigeria and get licensed to deliver the project, to deliver a project in Nigeria, no matter where you are,” Mbadiwe noted.

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