Construction Externalities: A Theoretical Insight and the Nigerian Scenario
Ugochukwu Stanley Chukwudi
Department of Quantity Surveying, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria.
Mbakwe Chinwendu Christopher
Department of Quantity Surveying, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria.
Ajator Uche
Department of Quantity Surveying, Nnamdi Azikiwe University, Awka, Anambra State, Nigeria.
Keywords: Built environment, Construction externalities, Construction industry, Construction stakeholders, Economic planning, Nigeria.
Abstract
Very little is known about the subject of construction externalities, especially amongst stakeholders in the Nigerian construction industry and built environment, yet its existence and effects are palpable. Hence, the study, via relevant literature and personal observations sought to provide; first, a theoretical understanding of the nature of construction externalities; its constituents or composition as well as its effects, and secondly, to point out the level of awareness on the part of stakeholders and the manner or extent to which they have been addressed or considered in Nigeria. Ultimately, this paper presents as a solution to efficient and balanced allocation of resources, realistic taxation and better economic planning by the Nigerian government; the need to apprise the citizenry of the benefits and adverse effects of construction externalities.