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