Okada- In a riveting lecture at Igbinedion University’s Gen. Abdulsalami A. Abubakar College of Engineering, Dr. Uwa Igiehon, Managing Director and Founder of Ossiomo Industrial Park, revealed the crucial ingredient that sets apart triumphant infrastructure projects from those that falter.
Speaking to a packed audience at the University Library Conference Hall, Dr. Igiehon emphasized that the harmonious interface between engineering and finance is the linchpin of successful project development. “It’s a delicate balance that can make or break a project,” he warned.
Igbinedion University’s Vice-Chancellor, Prof. Lawrence Ikechukwu Ezemonye, in his welcome address, highlighted the importance of such lectures in facilitating knowledge-sharing and learning. He expressed gratitude to Dr. Igiehon for accepting the invitation to deliver the lecture, despite the short notice.
Prof. Ezemonye noted that the intersection between engineering and finance is crucial for the success of infrastructure and project development, citing the need for clear and consistent communication between engineers and financial experts. He praised the College of Engineering for its achievements, including full accreditation from COREN and NUC, and its participation in local and international engineering contests.
Using the Ossiomo Power Project as a shining example, Dr. Igiehon showcased how meticulous planning and execution can yield remarkable results. With 100% access to power and a staggering 1,000 KWHr/capita power consumption rate, the project has become a beacon of hope for Nigeria’s power-hungry populace.
But Dr. Igiehon didn’t shy away from highlighting the pitfalls of poor interface between engineering and finance. The Eurotunnel project, a monumental undertaking that connects England and France, serves as a cautionary tale. Despite its technical success, the project was marred by crippling cost overruns and delays, ultimately leading to financial restructuring.
“When engineering and finance don’t align, disaster looms,” Dr. Igiehon warned. “The consequences can be devastating, as seen in the Eurotunnel debacle.”
The lecture was a masterclass in strategic project management, leaving the audience in awe of the intricate dance between engineering and finance. As Nigeria’s infrastructure landscape continues to evolve, one thing is clear: the marriage of engineering and finance is the key to unlocking successful projects that transform lives.
The Ossiomo Industrial Park’s success story serves as a testament to the power of this synergy, and Dr. Igiehon’s insights will undoubtedly inspire a new generation of project managers and engineers to strive for excellence.
