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- ItemOpen AccessInfluence of Macroeconomic Variables on Cost of Road Infrastruture Development in Nigeria: The Case of Lagos State(, Journal of Contemporary Urbanology, Department of Urban and Regional Planning, Benue State University, PMB 102119, Makurdi, 970001, BNS, Nigeria or P.O.Box 735, Makurdi., 2019-08) Babalola, A. J.; Oni, S. O.Nigeria is deficient in the area of infrastructure development and this is seriously affecting the growth and' sustainable development of the country. This study assessed the influence of macroeconomic variables on the cost of road infrastructure development in Nigeria. The Ex-post facto survey research or causal-comparative research design was adopted. The data on the macroeconomic variables used in the study, including inflation rate, interest rate, exchange rate and Foreign Direct Investment (FDI}inflows in construction sector were obtained from the National Bureau of Statistics (NBS) and Central Bank of Nigeria (CBN), the cost of road infrastructure development for the years under review were obtained from the Ministry of Works Housing and Infrastructure Development, Lagos State while the rates used in the buildup of the cost of the materials were from Guardian's monthly review of building materials prices which has taken care of all states of the country. The study fo that the trends of both the dependent variable and the independent variables were unstable, therefore affecting the nature of the macroeconomic environment prevailing in Nigeria and then causing the slow economic growth of the country. The study also found that there is relationship between the inflation rate, interest rate, exchange rate, FDI inflows in construction sector and the cost of road infrastructure development in Nigeria. The study recommends that the government should embark on policies that will make the Macroeconomic environment to be stable so as to increase the pace of the economic growth, reduce thefrequentfluctuation of construction materials prices and also increasing the development of infrastructures in the country.
- ItemOpen AccessInfluence ojMacroeconomic Variables on Construction Sector Output: The Key to Smart City Development in Nigeria.(Faculty of Environmental Sciences, University of Lagos, Nigeria., 2019) Babalola, A. J.Texts attached
- ItemOpen AccessIMPACT OF INFLATION TARGETING IN SOUTH AFRICA ON PRIVATE SECTOR SPENDING ON CONSTRUCTION(JClRE, Journal of Department of Estate Management, University of Lagos, Nigeria .., 2016) Babalola, A. J.The purpose of this study is to investigate the effects of inflation targeting on the private sector spending on construction in South Africa. The research approach was quantitative and the data were historical, drawn from different data sources such as South African Reserve Bank, Statistic South Africa and Quantec. The data used were private sector spending on construction as the dependent variable while GDP, inflation rate and interest rate were independent variables covering the period between 1984 and 2011. The estimation technique used is the ordinary least squared method. To ensure that the model is robust and alid, diagnostic check such as R-squared; probability ofF-statistics; and normality were carried out. It as discovered that the model is robust, stable and all the independent variables jointly influenced the pendent variable. The study recommended that the monetary policy in South Africa should look into ays of growing the economy so as to make itsustainable, thereby promoting every sector.
- ItemOpen AccessConstruction Economics, Architectural Design Variables and the Profession of Architecture in Nigeria(Architecture and I Urbanism ~.• ~~, I Research Hub www.auresearchhub.com.ng Faculty of Environmental Sciences University of Lagos Akoka. Lagos. Nigeria, 2021) Babalola, A. J.Texts attached
- ItemOpen AccessMacroeconomic Variables and Foreign Direct Investment (FDI) Inflows in the Nigerian Construction Sector(JOURNAL OF CONSTRUCTION INNOVATION AND COST MANAGEMENT (JCICM), DEPARTMENT OF QUANTITY SURVEYING, UNIVERSITY OF LAGOS, NIGERIA, 2020) Babalola, A. J.; Fayomi, M. A.The inconsistence of the macroeconomic variables performance and the low gross domestic savings can attributed to the low infrastructure development in Nigeria. Toreduce the problem of poor infrastructure development in Nigeria, capital must be mobilized from the high income countries to increase the preser: low gross domestic savings. The aim of this study is to investigate the influence of macroeconom; variables on FDI inflows in the Nigerian construction sector. The methodology adopted for this stud. was an ex-post facto survey research because it was based on existing or secondary data. Annual time series data of the FDI inflows in the Nigerian construction sector, Foreign exchange rates, inflation rates; and interest rates were used. Archive materials from Central Bank of Nigeria (CBN)and National Bureau of Statistics (NBS), annual data from 1990 to 2016 were used for analysis. The variables for this stud. were tested for stationarity. The unit root test results revealed that the variables were non-stationary - levels but they attained stationarity at first difference. The regression analysis of Ordinary Least Squ (OLS)method was used to analyse the data. The result revealed that exchange rate has positive impac:: but not significant. The result also indicated that interest rate and inflation rate have negative impact FDI inflows but not significant respectively. Johansen Co- integrated test conducted revealed that th existed a long-run relationship among the variables in the study. The study also established from [ohansen Co-integrated test that FDI and construction sector is significantly eo- integrated, indicatin a valid relationship at 5%. The result from the OLS model indicated that causality that exists between FD and the construction sector is bi-directional. Hence construction sector influence FDI inflows as well FDI inflows influence construction sector in Nigeria. The causality between FDI and the constructi sector should encourage policy decisions that will improve the FDI inflows, which by extension wou, translate to boosting the construction industry's opportunity to meet infrastructure deficit.