Finance is a big challenge for local engineering firms. Foreign engineering firms have access to funds through their government support and bank loans. Here in Nigeria, bank loans are in about 35% interest rates and it does not put Nigerian engineering firms in the same level playing grounds with foreign engineering firms.
McAdog & Associates, an engineering firm operating founded in 1983and in Lagos Nigeria, has been operating in Nigeria and has proved competent in the face of harsh economic realities that hinder many Nigerian firms from operating. The company is involved in major engineering design projects such as construction of Central Bank of Nigeria in Abuja, Galaxy Backbone, Nigerian Security Printing & Mint, Aba Malt factory and other projects.
For McAdog & Associates, training is paramount. Members of staff are well trained because the management of McAdog believes that without training there can’t be good production. So there is ample provision for staff training and motivation, supported with encouraging remuneration.
For the company, training and motivation includes discussions with staff on how to set up successful businesses and enlightenment on how to improve self while working on the job.