Assessment of factors influencing the use of advance payment on building projects in Lagos, Nigeria

Kolawole, Taoheed Bashir and Akinola, Gbemisola Ajoke (2019) Assessment of factors influencing the use of advance payment on building projects in Lagos, Nigeria. The Nigerian Institute of Quantity Surveyors, 65 (1&2). pp. 1-13. ISSN 116 -915X

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Abstract

Advance payment has been unarguably recognized as an alternative payment method in the Nigerian building industry. This study assessed the factors influencing the use of advance payment on building projects in Lagos, Nigeria with a view to enhancing project delivery. Data pertinent to this study were obtained through questionnaire survey from a sample of one hundred and forty (146) construction firms selected through a random sampling from the total of one hundred and eighty two (182) registered construction firms in Lagos. One hundred and thirty two (132) completed questionnaires were retrieved and found fit for the analysis; representing 72.5% response rate. These were analysed using factor analysis. The results showed that Time related factors and Economic conditions with respective 15.34 % and 9.61% were the most significant factors influencing the use of advance payment on building projects in Lagos, Nigeria. The study concluded that ‘time related factor’ and ‘economic factors’ influenced use of advance payment on building projects than any other factors and the study recommended that the moratorium be more encouraged when advance payment is adopted on building projects for the contractors to judiciously use the advances.

Item Type:	Article
Subjects:	T Technology > TH Building construction
Divisions:	Faculty of Engineering, Science and Mathematics > School of Geography
Depositing User:	Mr Daniel Kumoye
Date Deposited:	19 Jun 2020 14:48
Last Modified:	19 Jun 2020 14:48
URI:	http://eprints.federalpolyilaro.edu.ng/id/eprint/660

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