The Registrar-General of the Chartered Institute of Project Managers of Nigeria(CIPMN), Henry Mbadiwe, on Tuesday, 2 December, 2025 raised an alarm over the growing danger associated with the rising global and domestic financial waste on projects that require corrective works or adjustments after commissioning.
Mbadiwe raised the alarm while delivering his keynote remarks at the CIPMN 2025 Annual Conference and 6th Induction Ceremony, themed “Regulating Project Management In Nigeria: Policy Dialogue,” in Abuja.
According to him, the trend has become a major drain on public finances and a threat to development planning. He cited a World Bank report estimating that $4 billion is lost globally every year to corrective work on newly completed projects, projects that were supposedly finished, commissioned, and paid for.
While describing the figure as “ridiculous and unacceptable,” insisting that weak regulation and the use of unlicensed personnel in project execution were at the heart of the problem, Mbadiwe added that the revelation comes at a time Nigeria is still grappling with an estimated N17 trillion worth of abandoned projects, according to national audit reports.
“The project management profession is one that is still growing in Nigeria. It’s not as saturated or as respected as it should be in this country. We need to grow this profession. You cannot manage a project in Nigeria or lead a project in Nigeria if you are not licensed by this institute. A report was published recently that said the cost of abandoned projects has reached N17 trillion in Nigeria.
“The World Bank also published a report where $4 billion is being wasted yearly on corrective works on projects. So a project has been commissioned, designed, and then you reali.se a mistake and spend more money fixing it. That is the waste we are fighting.”CIPM Registrar said.
