The Nigerian Institute of Quantity Surveyors was founded in 1969 by a group of Nigerians who trained, qualified and practiced in the United Kingdom but who upon returning to Nigeria sensed the urgent need to develop the profession of Quantity Surveying in Nigeria by establishing a parallel body to the Royal Institution of Chartered Surveyors of United Kingdom.

The Profession of Quantity Surveying is practiced in Nigeria along the same pattern as in the United Kingdom and other Commonwealth countries. In America, they are known as Cost Engineers. Quantity Surveying functions is carried out in other countries under a variety of names. Thus, the role is universal.