IBRAHIM Mohammed Adamu1* MOHAMMED Bello Idris2, HAUWA Tijjani Bayero3,
YUSUF Yau4 & ISAH Garba5
1Department of Physical Planning and Development, Kaduna State University, Kaduna, Nigeria
2,3Department of Business Administration, Kaduna State University, Kaduna, Nigeria
4,5Department of Civil Engineering, Ahmadu Bello University, Zaria, Nigeria
Corresponding Email: imadamu@kasu.edu.ng
Abstract
Construction delays ravage economies, disrupt societies, and harm environments. In Nigeria, infrastructure growth hinges on timely project delivery, yet financing hurdles and awareness gaps affect construction project delivery.
Therefore, this study examines the moderating role of financial availability awareness on the relationship between project financing requirements and project delivery delay in the Nigerian construction industry. Using a survey research design and Partial Least Squares Structural Equation Modeling (PLS-SEM), the study analyzes primary data from 423 construction project stakeholders in Kaduna State. Findings of the study revealed that increases in project financing requirements can lead to significant increases in project delivery delay. Financial availability awareness was found to play a crucial role in mitigating the impact of project financing requirements on project delivery delay, accounting for 50% of the variation in project delivery delay. The study emphasizes the importance of effective project financing awareness and judicious project financing strategies in reducing project financing requirements and mitigating project delivery delays. To minimize delays and ensure successful project outcomes, construction stakeholders must prioritize financial availability awareness, explore alternative financing options, and develop robust financial management plans.
Policymakers and regulatory bodies should establish frameworks that promote financial awareness, transparency, accountability, and competitiveness in the construction financing market.
Keywords: cost effective project financing, construction industry, effective project delivery, financial
availability awareness, project financing requirements, project delivery delays