Unleashing Economic Reforms Ripple on Building Materials in Nigeria Construction Industry

Nigeria construction sector plays a crucial role in gross domestic product (GDP), employment, and infrastructure development; however, it is highly susceptible to macroeconomic reforms that influence the cost and availability of building materials. This study looks at how building materials, which make up more than 60% of construction expenses, are affected by economic reforms such as trade liberalization, changes to foreign exchange policy, and the elimination of fuel subsidies. A standardized and verified questionnaire was used to gather quantitative data from 217 construction experts (Cronbach's Alpha = 0.934). For analysis, descriptive statistics and Pearson's correlation were used. Results show that reforms have weakened domestic output, raised energy and transportation costs, and significantly raised the cost of imported materials. Cost overruns, project delays, and fluctuations in material prices have resulted from these disturbances. The analysis shows a substantial positive relationship between material market instability and reform actions. It concludes that whereas reforms aim for macroeconomic stability, they unintentionally cause instability in the building industry. The study emphasizes theoretical, practical, and policy implications, such as the necessity of bolstering domestic manufacturing, encouraging material innovation, and implementing stability measures to mitigate the effects of industry.