No abstract

Real estate project has many factors that affect successful delivery. Among such factors is risk. This is responsible for the failure of many real estate project in Nigeria. However, this study is focused on the risks associated with real estate project delivery. The study adopted multi-stage sampling design among the professionals in Estate Surveying and Valuation Firms registered by the Nigerian Institution of Estate Surveyors and Valuers in Southwest Nigeria. A set of questionnaires was administered on 476 respondents with 88% response rate. Both descriptive and inferential statistical tools were used to analyse the data. The descriptive tools include mean, percentage, tables and charts. The inferential statistical tool was factor analysis which was carried out with the aid of Statistical Package for Social Science (SPSS). The study assessed the various risks that affect real estate projects and classified them into two components. Suggestions were given on how to manage them to promote successful delivery of real estate projects in Southwest Nigeria.

Performance of construction projects is a crucial driver of economic growth and infrastructural development in Nigeria, but there is still a need for a tool that can accurately analyze construction project performance from the design stage through construction and completion. This study developed a performance model for building construction projects in higher institutions, Southwest Nigeria. Literature was reviewed to identify the previous performance measurement parameters and were classified into sixteen by pilot survey. Qualitative research approach was adopted and a structured questionnaire was administered to 394 project stakeholders and 297 (75.38%) were retrieved from respondents. Mean Score, Kuskal wallis test, analysis of variance and least significant difference post hoc test was used to determine the convergence and divergent views of the stakeholders. Factor analysis as data reduction method via principal component extraction was used to classify project performance into five categories. The study’s findings indicate that client satisfaction with the project (MS = 3.833), Construction time predictability (MS = 3.845) and construction cost predictability (MS = 3.832) were ranked as the top three performance index. From the result of the reliability analysis, project performance was loaded into five (5) integrated factors; construction management, stakeholder management, quality, cost and time performance indicators. It is hereby recommended that client satisfaction, accurate time estimate and good cost forecast should be considered when executing building construction projects to enhance performance. It is also recommended that attention should be given to the five integrated performance indices during construction of building projects to improve performance..

The study estimated the output of informal sector of the Nigerian Cement Industry through the consumption of cement by the Nigerian Construction industry. The research was conducted using secondary data. The study adopted the statistical model of informal sector estimation, Nigeria construction industry being cement intensive, cement consumption approach was used for the estimation of the informal sector of the industry by using annual cement consumption as an independent variable against the annual construction output in a time series regression analysis, treating the informal sector output as an omitted variable in the ordinary least square method of estimation. Annual value added tax (VAT) pool data set was chosen as an instrumental variable. Using the instrumental variable method of estimation, the informal sector proportion of the Nigeria construction industry was therefore estimated. The study concluded that the informal sector of the Nigerian construction industry is 4.07 percent of the industry's output.

The study assessed response of Nigerian Construction Industry to economic growth of Nigeria. The research was conducted using secondary data. The secondary data used was the National Account Dataset from 1981 to 2018 as 2010 constant price year. This was gotten from the Central Bank of Nigeria (CBN) publication reports. The response was evaluated through Impact propensity (IP), Finite Distributed Lag (FDL) and the Long Run Propensity (LRP). These parameters were calculated from the time series regression analysis using ordinary Least Square Method of estimation. The results show that the impact propensity of economic growth on construction is weak with correlation coefficient of -0.012. Delayed impact of economic growth on construction was observed with finite distributed lag of two year cycle. Maximum correlation coefficient of 1.265 with the economics of the preceding year (t-1) was observed. Long run propensity of 1.333 establishes a high growth propensity for construction industry given a one percent permanent GDP growth. Therefore, the study concluded that a consistent economic growth is desirable so as to achieve improved construction industry contribution to GDP.