Construction Skilled Labor Adequacy and its Impact on Nigeria Economy

Economic development in developing nations like Nigeria heavily relies on the construction sector. However, a major challenge in Nigeria's construction industry is the shortage of skilled labor. This research aims to evaluate the impact of having an adequate skilled labor force on Nigeria's economy. In order to accomplish this, we conducted an extensive literature review and designed a questionnaire survey for construction professionals in Oyo State, Nigeria. After multiple reminders over five months, 221 responses were collected by the deadline. Descriptive statistical analysis of the data revealed that having an adequate skilled labor force significantly reduces construction time overruns, improves project quality, increases productivity growth, reduces cost overruns, and decreases reliance on foreign labor and inputs. The study concludes that investing in the development of skilled labor in the construction sector is more than just an economic improvement strategy; it is a comprehensive approach to national development. The benefits extend across all facets of society, fostering a virtuous cycle of economic growth, social harmony, and improved living standards.