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PROJECT TOPIC: AN APPRAISAL OF FACTORS AFFECTING COST OF CONSTRUCTION IN NIGERIA

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CHAPTER ONE

1.0         Background of the study

The growing need for construction of all types coupled with a tight monetary supply has provided the construction industry with a big challenge to cut cost.

According to Mendelson and Greenfield (1996) the remaining part of the twentieth century would involve corporations, institutions and government in a race to survive. The attendant dwindling economic fortune of nations economies around the World have geared up the participant in these sectors (the client in particular) to take up the challenge of ensuring efficient use of their resources to obtain value for money in terms of performance.

The total cost of construction in normal circumstances is expected to be the sum of the following cost: Materials, Labour, Site Overheads, Equipment/Plant, Head office Cost and Profit but in many parts of the world particularly in Nigeria, there are other costs to be allowed for.


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