The Dynamics of Cost of Construction Projects in Nigeria
Ojo1, Solomon Michael, Adeniji2, Wusamotu Alao, Yusuf3 Shakirudeen Olawale,
1Department of Quantity Surveying, Moshood Abiola Polytechnic Ojere, Abeokuta,
2Department of Building, Moshood Abiola Polytechnic Ojere, Abeokuta, Ogun State,
3Department of Architecture, Moshood Abiola Polytechnic Ojere, Abeokuta, Ogun State,
Emails: goodsolex1@yahoo.com
Abstract: The persistent escalation of cost of both building and infrastructural projects in Nigeria is alarming. In other to improve upon the existing scenario, this study investigated and evaluated determinants of construction cost in Nigeria. The objectives of the study include: Comparative cost analysis of construction projects in Nigeria with that of some African countries, evaluation of construction cost matrix and suggestion to improve on existing scenario. Data obtained through stratified probabilistic sampling technique from 50 Nigerian Quantity Surveyors through structured questionnaire were analyzed quantitatively and the findings of the study revealed that high cost of construction materials, inflation, monopolistic market for construction materials, deliberate inflation of contract sum and kick back syndrome are major determinants of cost of construction in Nigeria. The study concluded that to curb this menace, measures outlined in the study must be implemented.
Keyword: Construction Cost, Dynamics of Cost, Nigeria, Issues, Quantity Surveyors, Ways forward
