APPRAISAL OF THE FACTORS AFFECTING COST OF BUILDING CONSTRUCTION MATERIALS IN EDO SATE, NIGERIA

ABSTRACT

Housing supply attempts in Nigeria have apparently been hampered by the high pricing of construction supplies. This article claims that unless the price of construction materials is subsidized via tax reduction, Nigerians would continue to pay more for lodging in major cities. This article aims to evaluate the variables that have an impact on the price of construction materials in the Nigerian state of Edo. The construction sector has a significant challenge to reduce costs due to rising demand for building of all kinds and a limited funding pool. This research will inform policymakers and the government of Nigeria, making them more receptive to enacting measures to lower the price of construction supplies. The goal of this research is to assess the quality of machinery and equipment servicing in Benin City, Edo State, Nigeria. Various methods, including questionnaires and interviews, were used to compile this data in the form of a survey. The collected data was analyzed using both descriptive and inferential statistics. The purpose of this research was to analyze the variables that contributed to the high price of construction materials in Edo State. It discovered that the top three most prevalent reasons impacting prices of construction materials were scarcity of building raw materials, fluctuations in the cost of fuel, and fluctuations in the cost of electricity supply. The high cost of building materials in Edo State may be mitigated by ensuring accurate estimates and choosing qualified contractors.

KEYWORDS: Construction materials, Cost, Building materials, Construction, Edo State.