Going by the rise in investments in the construction and public infrastructure industry, coupled with the increased advocacy, the Managing Director, Tsebo Nigeria, Oluwashina Oliyide, has said that the Nigeria facilities management services would surpass the projected $12.7 billion growth by 2027.
According to him, the potential in the sector is now bigger than in the past, adding that the industry presents better opportunities for investors.
Oliyide disclosed this during the unveiling of Tsebo Nigeria, a new identity for the leading facilities management company at Victoria Island, Lagos.
Barring regulatory inconsistencies that people always talk about, he said that investors are really interested in Nigeria’s facilities management, citing the biggest of the market, the nation’s population and pedigree, and the big opportunity the sector offers.
Unlike before when it was difficult to really make strong investment decisions due to the fluctuating currency, Oliyide said that people now have a clearer vision about the economy and where to invest.
He advised that a lot of things in terms of the economy, infrastructure and frameworks needed to be solid to give investors confidence to invest in the sector.
He said:” Maintenance is one of the twelves of what it entails. The function of facilities management or what it has evolved to become right now as a workplace management is to take a corporate and give them the ability to focus on their core while a professional deals with everything that makes them work.
” It’s just much more than building;
“it’s thinking about the experience in the environment, thinking about how you feel when you come into the place, how you are greeted, how you are met, the technology that welcomes you. It talks about how employees feel when they come into your workplace, and employees’ value proposals and stuff like that.
“So, it’s much more than maintenance and that’s why that industry is that big.”
Recall that Nigeria facility management services market, according to Allied Market Research, was valued at $8.4 billion in 2019, and is projected to reach $12.7 billion by 2027, registering a CAGR of 6.4 per cent from 2020 to 2027.
The commercial segment is estimated to generate around three to fourths share of the Nigeria facility management services market during the forecast period.
He mentioned that one of the challenges with maintenance culture was the inability of the business itself to understand what a lack of maintenance meant in terms of Naira and corporate profitability and long-term sustainable growth.
Oliyide explained that the rebrand from Tsebo Rapid to Tsebo Nigeria signalled a renewed commitment to delivering exceptional, locally rooted and globally aligned services across Nigeria’s fast-evolving business landscape.
He said that in Tsebo, being a global brand and having everything, has been seizing the opportunity to bring that expertise into the facilities or real estate industry in Nigeria.
Rather than limiting facilities management to real estate , he said the company remains a solutions provider, focusing on everything other things that make businesses run.
” The business understands that if I don’t maintain, I’m going to lose this amount of money in the long run. No businessman wants to lose money.
“I think the level of expertise in the industry is just galvanising to a point where people can really evaluate the business value of not maintaining. I see that people don’t understand that approach, it’s more like a business. So nobody wants to lose money.
“Generally, a lot of infrastructure is developed by the government. The government is now trying to incorporate facilities and maintenance management into their policies, but one thing that Tsebo is doing is to work with the industrial bodies to push this advocacy, and to begin to talk to government, begin to educate and show the business value, to show that if you engage in maintenance, at the end of the day, your overall cost is lower.”
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