Aim: The aim of this study is to analyze the factors responsible for the cost variation in the construction projects in Enugu, Nigeria, with a view to establishing the impacts of this factors on project delivery in the study area.  Study Design: it was a survey research, the study was effected via literature review and a well-structured questionnaire. Likewise, interviews were carried out to substantiate the findings of the questionnaire survey. Place and Duration of the Study: The study was conducted in Enugu state, Nigeria for a period of 2 years. Methodology: Being a survey research, a total of one hundred and twenty-six (126) questionnaires were distributed with one hundred and three (103) returned and adequately filled given a percentage response of 81.7%. The data collected was presented and analyzed using tables, frequency, mean score and relative importance index. The analysis was aided by a computer-based software, named Statistical Package of Social Sciences (SPSS) version 22. Results: The study found out that more than 40% of the respondents have experience cost overrun while more than 60% of the respondent attest that cost overrun occurs always most of their project. The study observed that the principal factors responsible for this overrun in construction projects in the study area are: poor contract management deficiency in prepared cost estimate and incomplete design. Furthermore, the study observed that the contractor’s desire to improve his financial condition, poor site management and Defective workmanship and availability of skilled labor and change orders/ variation are least factors that contribute to cost overrun in projects in the study area. The study established that the most common effect of cost overrun on project delivery are loss of profit (1.09), fewer returns on investment (0.86) while the least effect is higher rental/lease cost or price (0.70). Conclusion: The study concluded by recommending that proper contract management, value engineering and effective communication should maintain throughout the lifecycle of the project.

In spite of the potentials of the capital market, one wonders why the Nigerian real estate developer has not resorted to the use of capital market instruments for real estate financing. In light of the potentials of these instruments in real estate development financing, the study examines the issues bordering on real estate development financing using capital market instruments. Specifically, the study was guided by the following objectives: to ascertain the challenges associated with the funding of real estate development using capital market instruments in the study area, and to determine the prospects of capital market instruments in funding real estate development in the study area. The study area was the south-eastern geopolitical zone of Nigeria. A quantitative approach was chosen for this study. The population of the study was 245 comprising real estate investors\developers, Estate Surveying and Valuation firms, Primary and Federal Mortgage Bank of Nigeria, Nigeria Stock and Exchange Commission, selected Academia of Estate profession in south East, Nigeria. The primary data collected through the questionnaire were analyzed and presented using charts, Binomial test of proportion and Z-approximation test. The study found seven (7) significant challenges associated with the capital market financing of real estate development in the study area; while six (6) significant prospects of capital market funding of real estate development in the study area were found. The study recommended that policies that will impact positively on the real estate development sector of the Nigerian economy as it concerns funding should be pursued with all the seriousness it deserves; and good regulatory environment should be provide with adequate safeguard to enable investors tap into the potentials of the capital market in financing real estate development.

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Efficient administration and management of land ownership, holding and uses cannot be adequately achieved without sound land policy and its effective implementation. Land policy is essentially aimed at ensuring land accessibility to citizens of the society as well as protection of their interests. The contemporary land policy in Nigeria is the Land Use Decree No. 6 of 1978, now Land Use Act (LUA), Cap L5, Laws of the Federal Republic of Nigeria 2004. This paper aims at undertaking a contemporary review of the issues and challenges of land policy in Nigeria in order to proffer ways to ameliorate them and ensure that land is accessible to citizens at reasonable ease. The issues and challenges of Nigerian land policy include: the abrogation of freehold interest which affect the free market economy; excessive bureaucracy in obtaining Governor’s consent and approval for land transactions and issuance of certificate of occupancy; underdeveloped or bare land not having commercial value according to the LUA which limits the use of land for mortgage and some other purpose transactions; insecurity of private land ownership, etc. National sustainable economic development and growth depend largely on the land policy in operation; hence it should be inclusive and responsive to the needs of all land users. It is therefore recommended that the LUA, should be excised from the 1999 Constitution to ease requisite amendments to address these contemporary issues and challenges of the land system and use.

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