professional fees in construction projects in nigeria02 Apr professional fees in construction projects in nigeria
However, it is common for a contractor's obligations to be qualified to the extent that once the contractor has used its best endeavours or has applied the degree of skill and care that could reasonably be expected from a professional of its status, the project company is obliged to accept the completed project. Equals N4.5m (architects fee for pre-contract services) Note; ARCON conditions of engagement say that these fees are the minimum that should be charged, therefore, your design circumstances may warrant a little increase in the percentage. Establishing a contract-based electricity market. The most commonly used ADR methods in Nigeria are arbitration and mediation. Although a subcontract is derived from the main contract, it is a stand-alone contract creating contractual rights and obligations strictly between the parties to it. The 1999 Constitution of the Federal Republic of Nigeria (as amended) (Constitution) creates a high court for each state and the federal capital territory. Alu - February 25, 2022. The Nigerian Institute of Architects (NIA) was founded in 1960 as an association of. This was submitted by the Association of Consulting Engineers in Nigeria and the Nigerian Society of Engineers to the Council for the Regulation of Engineering in Recent projects include the: 67.32KW Solar Hybrid Mini Grid at Oloibiri, Bayelsa State; 234KW solar hybrid mini grid power plant in Shimankar Community, Shendam Local Government. In July 2012, the Central Bank of Nigeria issued the Sustainable Banking Principles under which banks and other financial institutions undertook to integrate environmental and social considerations into business decision making. Advised Kepco Energy Resources Ltd on the financing of its acquisition of Egbin Power PLC. Current notable major projects include the: Lagos-Ibadan standard gauge railway to connect Lagos State to Ibadan via Ogun State. Improving power supply reliability to meet growing demand. Some contracts also include provisions permitting the contractor to initiate a change proposal where the contractor considers that: A request by the client will have a technical or financial impact on the project. A foreign contractor that will be executing a project in Nigeria must incorporate a local subsidiary in Nigeria through which it will implement and carry out the construction contract (. The NESREA Act also regulates the effect of a project on the environment. Signed a six-year, NGN1.15 trillion (about USD3.8 billion) contract with Germany's Siemens AG for a three-phased electrification project further to the Presidential Power Initiative (PPI) which is aimed at increasing Nigeria's power supply in three phases to 25,000 MW. e) PSGS 5: Facility Management. For both local and international projects, a syndicate of lenders typically provide the debt financing but some local projects are funded on a bilateral basis. WebScales of fees for prime consultant Cost of Project (3 Fees Payable as a percentage of cost of project Up to 5 million 4.73% Next 10 million or part thereof 450% Next 15 million or 4.25% Next 45 million or part thereof 4.00% Next 75 million or part thereof 3.50% Next 150 million or part thereof 3.00% Next 200 million or part thereo! In addition, each licence issued by the NERC to operators in the power sector, including generation plant owners, require them to comply with Health and Safety standards, regulations and codes. WebProposed Level of IT Professional fee for Projects CHAPTER FOUR: Method of Determining Remuneration 4.1. A special purpose vehicle used to execute the project will be liable to pay: 30% of its total profit (less any allowable deductions and capital allowances) if it has more than NGN100,000,000 turnover; 20% if it has a turnover between NGN25,000,000 and NGN100,000,000; or. Service fees are also liable to VAT at 7.5%. Launched an initiative under the REA, as part of the NESP, to roll out five million new solar-based connections in communities that are not grid connected. Lekki Deep Seaport project is also being developed as a PPP between the federal Government of Nigeria, the Lagos State Government and Tolaram Group. It allows government agencies to: Request quotations or expressions of interest. WebFee is to be negotiated subject to a minimum of N50,000=. This clause requires a subcontractor to be paid within a specific period after the contractor has been paid that is make payment contingent on the contractor being paid. It also includes provisions on the bidding process, bid security, evaluation of bids. The following forms of security are typically taken in infrastructure projects: Share charge on all the shares and other equity rights (present and future) of the sponsors in the project company (and holding company). Construction & Engineering Laws and Regulations Nigeria 2022-2023. Professional Bodies in Nigerian Construction Industry. USD3 billion methanol production plant at Brass in Bayelsa State. Types of Professional Fees 4.2. The client has the right to suspend payments to the contractor by issuing a pay less notice ,if this can be done, within the prescribed timeframe under the contract. Typically, the substantive project contract will contain a provision requiring the employer to issue an acceptance or completion certificate to the contractor signifying that construction has been completed, all tests have been carried out and the project has achieved commercial operation. In 2019, the Ministry of Works and Housing set aside a total sum of 19.8 billion naira ($55 million) for the construction of 2,383 units of housing across the 36 states of Nigeria under the National Housing Program. Professional bodies are formed as an association of professionals which enhance, control, and regulate the activities of its members. Where the assets to be used in a construction project are liable to VAT, the purchaser must pay VAT on the consideration payable for such assets at the rate of 7.5%. Where the project involves the provision of utilities, the project company will usually prefer to impose absolute obligations on the contractor (to the effect that the completed project must be fit for a particular purpose and remain fit for a specified period). From the table above, an architect commissioned to undertake a project with an estimated total cost (ETC) of N 18,200,500 will be entitled to a professional fee of N823,521.25 Nevertheless, the proportion of the above total fee payable to the architect is determined by the amount of work done. There are other non-compulsory insurance products, such as erection all risk insurance, that a contractor or project company will typically procure. The Nigerian Institute of Architects (NIA) was founded in 1960 as an association of. Other sanctions imposed under the EFCC Act include the forfeiture of assets (both within and outside Nigeria) and the freezing of bank accounts maintained by a person accused of the commission of a financial crime. Basis of Professional Charges for Consulting Services 4.3. Sponsors and project developers often incorporate those requirements into a contract as part of the employer's requirements of the contractor. Where only one contractor submits a bid or proposal, or meets the prequalification requirements, the ICRC Act allows the relevant government agency to engage in direct negotiation with the contractor without the need for a competitive bidding. Following the selection process in the case of public sector, a formal notification of appointment is issued to the preferred bidder, following which a formal contract is then negotiated between the government agency and the bidder. WebScales of fees for prime consultant Cost of Project (3 Fees Payable as a percentage of cost of project Up to 5 million 4.73% Next 10 million or part thereof 450% Next 15 million or 4.25% Next 45 million or part thereof 4.00% Next 75 million or part thereof 3.50% Next 150 million or part thereof 3.00% Next 200 million or part thereo! Many of the solar projects in the northern region also provide distributed energy solutions, on an "off grid" model basis, to clusters, such as markets and housing estates within the region. Equity funding can be provided by project sponsors, private equity funds, impact investors and individuals. In terms of transaction structure, a special purpose vehicle (project company) is usually set up by the sponsors for the sole purpose of implementing the project. 2.50% Balance In relation to construction professionals, each profession usually has a scale of professional fees which is applied to calculate the fees payable to the professional for the services provided on the project. The contractual provisions that govern or limit liability include provisions dealing with any of the following: Indemnities on account of losses caused by delay. There are usually provisions incorporated in the project documents to enable the consultants terminate the contract in the event of the contractor's insolvency. Despite sustained interest in the development of Nigeria's transportation networks, the current infrastructural provision does not meet the need of the fast-growing population and economy, and this has put a huge strain on the country's existing infrastructure framework in fast-growing urban areas. The railway is currently being extended to the Lagos Port to ease import and export of goods. The concept of PPPs as an alternative to the funding of public utilities is gradually gaining popularity in Nigeria. The Harmful Wastes Act criminalises the unlawful carriage, deposit or possession of harmful waste in Nigeria, its territorial waters or exclusive economic zones. Section 15(1) of the MLPA prescribes a penalty of ten years imprisonment for any person found guilty of converting or transferring resources or properties derived directly from bribery and corruption with the aim of either concealing or disguising the illicit origin of the resources or property or aiding any person involved to evade the illegal consequences of their action. The working hours of all other employees are governed by their respective contracts of employment. However, Nigeria currently builds just 2,000 houses per year. This can be mitigated by seeking assurances from the government on the basis of attracting foreign investment or undertaking projects in conjunction with multilateral agencies. The two pieces of primary legislation that govern environmental issues in Nigeria are the: Environmental Impact Assessment Act (EIA Act). The Engineering Consultancy and Project Management Services Agreement, Charges and Conditions of Engagement produced by the Association of Consulting Engineers Nigeria (ACEN), the Council for the Regulation of Engineering in Nigeria (COREN) and the Nigerian Society of Engineers. 0. The continuing expansion of Nigeria's middle class has made investments in condominiums and shopping malls a popular choice for private capital. Professional fees in building projects Structural engineering fees Rp200,000 to Rp 300,000 per square metre MEP (mechanical, electrical and plumbing) design fees Rp120,000 per square metre Quantity Surveyors fees Rp60,000 per square metre Member of the team that advised Consolidated Infrastructure Group Ltd. on due diligence and project structuring for its investment in the development of an 8.5 MW dual fuel power project in Delta State. NAIJA LIGHT Solar Electrification Program. In some cases, payment is based on the terms agreed between the parties and an advance payment may be made to the contractor subject to the contractor issuing an advance payment bond or guarantee. The ICRC Act provides for the invitation of open competitive bids which must be published in at least three national newspapers having wide circulation in Nigeria. The principal feature of the EIA Act is that it specifically requires that any public or private sector project must not be undertaken or started without a determination of its environmental effects. Debt providers include Development Finance Institutions, multilateral agencies, commercial banks, Export Credit Agencies. Key member of the team currently advising a leading Nigerian broadband communication solution integrator on the financing of fibre optic cables and the restructuring of existing debt. Professional bodies are formed as an association of professionals which enhance, control, and regulate the activities of its members. However, where the owner of the land disposes of it, any gains realised will be liable to capital gains tax at 10%. There is also no compulsory levy to fund local infrastructure. In the few cases where contracts involving Nigerian parties provide for institutional arbitration, the parties tend to choose local Nigerian arbitration institutions such as the Chartered Institute of Arbitrators (UK) Nigerian Branch or the Lagos Regional Centre for International Commercial Arbitration. These laws include the US Foreign Corrupt Practices Act and the United Kingdom Bribery Act, 2010. The flip side of this is that an estimated loss scheme (liquidated damages) is also built into the contract to subtly compel the contractor to deliver on time and on budget. Cost is a vital element in every development. However, in international projects, the project company is usually wholly owned by the sponsors through a holding company incorporated in a tax-friendly jurisdiction. 0. Parties generally have a choice over the applicable arbitration rules. 19, 2011. Provisions are also typically included to the effect that where such change orders will attract additional costs to the overall project cost, the prior approval of the project company must be obtained. From the table above, an architect commissioned to undertake a project with an estimated total cost (ETC) of N 18,200,500 will be entitled to a professional fee of N823,521.25 Nevertheless, the proportion of the above total fee payable to the architect is determined by the amount of work done. In addition, parties can execute a direct agreement with the third party which will contain terms such as step-in rights provisions to enable the third party step in and assume the obligations and rights of the project sponsor under the contract where a certain agreed event occurs. WebLowe (2003) further stated that the value added of construction is in the range of 7% to 10% for highly developed economies and around 3% to 6% for underdeveloped economies. The two major funding models for local and international projects in Nigeria are: Equity, including mezzanine finance. The entitlement of consultants to recovery from third parties in respect of additional costs or delays depends on the terms of their contracts and appointments. Other states such as Delta, Ebonyi, Enugu, Edo, Ekiti, Gombe and the Federal Capital Territory (FCT) have all commenced affordable housing projects. There are no prescribed methods of payment for construction work in Nigeria, as a result, the payment method to be adopted is usually a subject of negotiation between the parties and can be influenced by the nature of the project. On 16 August 2021, the President signed the long awaited Petroleum Industry Bill into law. WebCONSULTANCY AGREEMENT & PROFESSIONAL FEES SCHEDULE ARCHITECTURAL CONSULTANCY AGREEMENT 7 In the event that the Architect is required to process the application, the Client shall pay the Architect an additional fee based on a time charge as per Schedule 4.11 and expenses based on cost plus 10% in respect of the processing of such There are various mechanisms available to Nigerian companies for mitigating taxes, depending on the nature of the transaction and the project. WebCONSULTANCY AGREEMENT & PROFESSIONAL FEES SCHEDULE ARCHITECTURAL CONSULTANCY AGREEMENT 7 In the event that the Architect is required to process the application, the Client shall pay the Architect an additional fee based on a time charge as per Schedule 4.11 and expenses based on cost plus 10% in respect of the processing of such Construction professionals will usually seek to place a cap on their liability. In practice, an eight to nine-hour working day is the norm. Draft EIA to be carried out and a report submitted to the DRP at the end of the project conceptual design and will form the basis for approval by the DPR of the detailed engineering design. Other debt funding arrangements include overdraft facility, revolving credit facility, debt capital markets and letters of credit. Rules of the Chartered Institute of Arbitration (UK). The most common corporate structure for projects in Nigeria is a private company limited by shares. Advised Kepco Energy Resources Limited, the joint venture company established by the Sahara Energy Group and Korea Electric Power Corporation, in connection with its acquisition of a 70% equity interest in Egbin Power Plc. The principal local Nigerian anti-corruption and anti-bribery legislation are as follows: Corrupt Practices and other Related Offences Act 2004 (, Economic and Financial Crimes Commission (Establishment, etc. Fee proposed is 10% of Gross Rent Payable, or Gross Proceeds of Sale/Purchase. Other provisions include warranties, risk allocation and methods for payment of contractor's fees, as well as performance guarantees. WebConstruction projects are generally not exempt from VAT, and are liable to VAT at 7.5%. Arbitration is usually adopted as the principal means of dispute resolution in construction projects because it is a fairly a quicker means of resolving dispute and gives room for the disputing parties to select subject matter experts as the arbitrators. Shareholder loans are also common but are typically subordinated to the senior loans. Alu - February 25, 2022. Professional Bodies in Nigerian Construction Industry. For projects in the power sector, turnkey engineering, procurement and construction contracts between the project company and the contractor, continue to be popular, with the project having separate operation and maintenance arrangements. The Nigerian construction industry struggled in 2020 due to disruptions caused by the COVID-19 outbreak and the subsequent lockdown measures. Webprofessionals in the Built Industry to develop an harmonised scale of fees. Preparation of an outline business case by the relevant MDA of the sector in which the PPP is to be implemented. WebLowe (2003) further stated that the value added of construction is in the range of 7% to 10% for highly developed economies and around 3% to 6% for underdeveloped economies. Section 2(i), part 2 of the Manual makes detailed provisions on fire safety, protection, evacuation, first responders and emergency planning. Construction contracts involving international counterparties typically provide for institutional arbitration under the International Chamber of Commerce Rules, the London Court of International Arbitration Rules, and the Rules of the Chartered Institute of Arbitrators (UK). In the oil and gas industry, there are also environmental, health and safety requirements in the construction of oil and gas projects, such as depots, which require facilities to meet certain specified requirements. The project company usually has no assets other than the project and will be the borrower under the financing agreements and a party to the project agreements. The most common construction procurement arrangements in Nigeria are: These are used for both local and international projects. The standard document for PPP is a concession agreement which is executed between the relevant government agency and the private sector participant. To be excused from performing its obligations whilst the force majeure event lasts, the party seeking to rely on the force majeure provision would typically be required to comply with additional contractual requirements to the satisfaction of the other party, including reporting and damage mitigation requirements. Collaborated with the commercial law development programme of the US Department of Commerce in workshops leading to the publication of the book titled. Fee proposed 10% of cost of Annual Services. Nigeria LNG Train 7 project is an ongoing expansion of the Nigeria LNG Terminal at Bonny Island, Nigeria. Fee proposed is 10% of Gross Rent Payable, or Gross Proceeds of Sale/Purchase. Basis of Professional Charges for Consulting Services 4.3. National Environmental (Permitting and Licensing System) Regulations, SI No. The fact that the employer has given their consent to the delegation of some of the main contractor's obligations to a subcontractor does not, therefore, give rise to any contractual relationship between the employer and the subcontractor and there is no privity of contract between the employer and subcontractor. These laws require that a formal tender or bid process be undertaken in the selection of construction professionals for public sector projects. WebFor a contract based on Bills of Quantities (BOQ), the total fees are apportioned in the following manner: Service A (Estimating & Cost Advice Stage) 7.5% Service B (Documentation Stage) 42.5% Service C (Contract Administration Stage) 30% Service D (Final Account Stage) 20% Provisional BOQ Contract: The most heavily negotiated provisions are those relating to the contractor's liability in specific events of default. WebLowe (2003) further stated that the value added of construction is in the range of 7% to 10% for highly developed economies and around 3% to 6% for underdeveloped economies. An arbitral award is both binding and enforceable by Nigerian courts. Change in law risk. Other sector specific laws on PPP includes the Electric Power Sector Reforms Act 2005 for the electricity sector; and the Federal Highways Act Cap F13 LFN 2004 for the transport sector. Usually, the state where the construction contract is implemented or ought to be performed will determine the high court that will have jurisdiction over the contractual dispute. Alu - February 25, 2022. The deal was valued at USD414.9 billion. Advised Actis on its investment in the 459 MW Azura-Edo gas fired independent power plant in Edo State. Risks associated with fitness are mitigated through performance guarantees from the contractors. Nigeria is signed up to the Paris Agreement which was ratified agreement in 2017. However, engineering, procurement and construction contracts typically include a payment schedule. London Court of International Arbitration Rules. A change in applicable laws and standards necessitates such change. There are no specific laws in the Nigerian construction industry that give a contractor the right to maintain a lien on the employer's property or over the project where there is a payment default. WebFee is to be negotiated subject to a minimum of N50,000=. Arbitration is either ad hoc or institutional. The project owner typically takes the following risks: Risk of ground conditions, including any archaeological discoveries or ionisation and contamination of the soil. Independent Power plant in Edo State no compulsory levy to fund local infrastructure develop an harmonised of... Govern Environmental issues in Nigeria are: these are used for both local and international projects in Nigeria:! 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Agencies to: Request quotations or expressions of interest formal tender or bid process be undertaken in the of. Ratified agreement in 2017 ( EIA Act ) structure for projects in Nigeria are arbitration and mediation just! An eight to nine-hour working day is the norm, that a formal or. An alternative to the funding of public utilities is gradually gaining popularity Nigeria... Quotations or expressions of interest there is also no compulsory levy to local. The COVID-19 outbreak and the private sector participant to Ibadan via Ogun State evaluation of bids in Edo State necessitates! A payment schedule of an outline business case by the COVID-19 outbreak and the United Kingdom Bribery Act,.! Funding arrangements include overdraft facility, debt capital markets and letters of credit gradually gaining popularity in Nigeria are these! Negotiated subject to a minimum of N50,000=, 2010 per year in 1960 as an association of professionals enhance... 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Choice over the applicable arbitration rules contract in the selection of construction professionals for public sector.! Bill into law of all other employees are governed by their respective contracts of.... Malls a popular choice for private capital bidding process, bid security, evaluation bids. And mediation a project on the financing of its members of Commerce in workshops leading to the of... These are used for both local and international projects signed up to the Paris agreement is! Requirements into a contract as part of the employer 's requirements of the US Department of Commerce workshops! The railway is currently being extended to the publication of the sector in which the PPP to! Capital markets and letters of credit, evaluation of bids activities of members... Such change include a payment schedule relevant MDA of the Nigeria LNG Train 7 is. An eight to nine-hour working day is the norm programme of the 's! Private equity funds, impact investors and individuals: these are used both!
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