A project management expert, Chief Olabode Afolayan, has criticized allegations by the civil society group, Elites Network for Sustainable Development (ENetSuD), regarding the cost of rehabilitating Kwara Hotel.

He described the claims as mischievous, misleading, and inaccurate.

ENetSuD, through its Coordinator, Alagbonsi Abdulateef, had alleged in a recent online publication that the Kwara State Government planned to spend ₦10 billion on renovating Kwara Hotel in 2025, despite already spending ₦13 billion in 2024.

However, Afolayan, who is the President and Chairman of the Council of the Chartered Institute of Project Managers of Nigeria (CIPMN), dismissed these claims during an interview in Ilorin.

He argued that the group lacked a proper understanding of the economic factors driving construction costs.

Afolayan explained that the review of the hotel’s rehabilitation cost was necessary due to the sharp rise in building material prices, which he said had increased by 400% in the last two to three years.

“The cost of construction-related materials, many of which are imported, has skyrocketed due to inflation and exchange rate fluctuations,” he noted.

The former President of the Real Estate Developers Association of Nigeria (REDAN) urged activists to avoid spreading misinformation and advised journalists to refrain from sensationalism.

“I am a businessman and a developer, not a spokesman for the administration. But I believe it is important to provide factual information about project costs,” he said.

Afolayan stressed that critics should consider the scope of work and quality of finishing before making accusations about inflated costs.

“When people hear figures like ₦10 billion, they need to ask: What level of finishing is required? What infrastructure is included? You cannot criticize a project without knowing the volume of work involved,” he explained.

He further compared the hotel rehabilitation costs to road construction expenses, stating that a one-kilometer road costs about ₦4 billion, which helps put the hotel’s renovation cost into perspective.

Afolayan pointed out that the foreign exchange rate had increased from ₦540 to over ₦1,600 per dollar in the past three years, significantly impacting construction costs.

“A few years ago, I sold a three-bedroom bungalow in Kwara for ₦4 million. Today, the cost of roofing alone is about ₦4 million, not to mention doors and windows, which now exceed that amount,” he said.

Afolayan also linked the cost of infrastructure projects to Governor AbdulRahman AbdulRazaq’s broader efforts to revamp Kwara’s economy.

He highlighted major state projects, including, Innovation Hub, Garment Factory, Sugar Factory Film Studio, Patigi Motel and International Conference Centre and Remodeled Kwara Hotel.

He noted that these efforts earned the governor the 2024 Governor of the Year Award from Daily Independent Newspapers.

“The cost of development is real, and price adjustments are inevitable. We should not throw around figures just to create a negative narrative.

“That is unfair,” Afolayan concluded.