Government policies in the construction industry: awareness, application and effects.
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Date
2023
Authors
Oladiran O.J.
Okonkwo C.
Komolafe T.A.
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Publisher
Australasian Universities Building Education Association (AUBEA)
Abstract
The construction industry in developing countries is faced with many challenges affecting its output and appears to be lagging in improved project outcomes. Governments influence the industry’s productivity and performance via monetary and fiscal policies. The aim of this study is to examine the effects of government policies on construction projects, with the view to improving project outcomes. The objectives of the study is to examine the level of awareness and application of government policies; and the effect of government policies on construction project outcomes. The population of the study was construction professionals in Lagos, Nigeria. The study reveals that devaluation of the Naira, Nigerian currency, is the government policy that the respondents are mostly aware; other government policies with high level of awareness include but not limited to: increase in import duties, high taxation and increased government spending. The study concludes that government policies have the highest effect on cost performance of construction projects. It implies that good government policies could lessen construction cost and improve affordability of housing. The study recommends that awareness among construction professionals on government policies should be improved. This can be done by professional bodies and associations embarking on enlightenment seminars and workshops to intimate construction professionals on the government policies available within the construction industry and their resultant effects to companies and other stakeholders.
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Citation
3. Oladiran, O.J., Okonkwo, C. & Komolafe, T.A. (2023). Government policies in the construction industry: awareness, application and effects. The 46th Australasian Universities Building Education Association (AUBEA) Conference, 26-28 November, Massey University, New Zealand.