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Devaluation of naira - effect on Nigeria construction industry

 Department: Civil Engineering  
 By: usericon samfilo31  

 Project ID: 4926
   Rating:  (5.0) votes: 1
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This study on devaluation of naira effect on the Nigeria construction industry. Devaluation of naira is an adjustment to the value of a country’s currency, related to another currency, within the context of a fixed exchange rate management system. A questionnaire survey was administered to respondents which included contractors, consultants, clients, bankers. This study established that inflation, exchange rate, supply and demand for money have a significant effect on the cost of materials. This research project has revealed that devaluation of the naira has a negative effect on the construction industry in Nigeria which leads to the abandonment of the project, decreasing the rate of importation, unemployment, high cost of materials use in construction. Therefore,  since the construction industries mainly depend on imported equipment and other materials used in construction, much focus should be placed on the regulation of the exchange rate of the naira in order to encourage economic activities within the sector....
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