<p>Despite being a key driver of infrastructure development and economic advancement, the Nigerian construction sector is nonetheless extremely vulnerable to shifts in the macroeconomic landscape and changes in policy. This study examines the effects of Nigeria’s recent economic shifts, particularly the eradication of fuel subsidies, the deregulation of foreign exchange, and fiscal restructuring, on sustainable building practices and how these reforms could possibly be strategically linked with Agenda 2063’s objectives for Africa. A structured questionnaire with a reliability coefficient of Cronbach’s Alpha = 0.936 was used to gather data from 202 construction professionals, as part of a quantitative study design. Data were analysed using exploratory factor analysis (EFA) and fuzzy synthetic evaluation (FSE). The results show that even though reforms have improved foreign investment inflows, policy alignment, and access to green financing, they have also resulted in increased costs, supply chain interruptions, and decreased productivity. This dual effect is discussed in the context of (i) Governance, Collaborative Development, and Equity; (ii) Manufacturing Efficiency and Industrial Transformation; (iii) Institutional, Financial, and Policy Dimensions; and (iv) Socioeconomic and Environmental Impacts. The study concludes that although Nigeria’s economic restructuring aims to increase efficiency and draw in investment, it has unintentionally increased cost pressures and market volatility, and thus limited the adoption of sustainable construction materials and technologies in the country. The study’s findings highlight the urgent need for reform-sensitive sustainability policies that strike a balance between green growth and macroeconomic stability. It also offers stakeholders in the construction sector evidence-based guidance for overcoming the obstacles brought on by economic reforms.</p>

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Impacts of economic reforms on sustainable construction in Nigeria and lessons for Africa’s Agenda 2063

  • Olatoyese Oni,
  • Clinton Aigbavboa,
  • Babatunde Ogunbayo

摘要

Despite being a key driver of infrastructure development and economic advancement, the Nigerian construction sector is nonetheless extremely vulnerable to shifts in the macroeconomic landscape and changes in policy. This study examines the effects of Nigeria’s recent economic shifts, particularly the eradication of fuel subsidies, the deregulation of foreign exchange, and fiscal restructuring, on sustainable building practices and how these reforms could possibly be strategically linked with Agenda 2063’s objectives for Africa. A structured questionnaire with a reliability coefficient of Cronbach’s Alpha = 0.936 was used to gather data from 202 construction professionals, as part of a quantitative study design. Data were analysed using exploratory factor analysis (EFA) and fuzzy synthetic evaluation (FSE). The results show that even though reforms have improved foreign investment inflows, policy alignment, and access to green financing, they have also resulted in increased costs, supply chain interruptions, and decreased productivity. This dual effect is discussed in the context of (i) Governance, Collaborative Development, and Equity; (ii) Manufacturing Efficiency and Industrial Transformation; (iii) Institutional, Financial, and Policy Dimensions; and (iv) Socioeconomic and Environmental Impacts. The study concludes that although Nigeria’s economic restructuring aims to increase efficiency and draw in investment, it has unintentionally increased cost pressures and market volatility, and thus limited the adoption of sustainable construction materials and technologies in the country. The study’s findings highlight the urgent need for reform-sensitive sustainability policies that strike a balance between green growth and macroeconomic stability. It also offers stakeholders in the construction sector evidence-based guidance for overcoming the obstacles brought on by economic reforms.