Department of Business Administration

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    Impact of Project Cost Control on the Financial Performance of the Nigerian Construction Industry
    (Scientific Research Publishing Inc., 2024-02-02) Abani Joseph Alu; Muritala Taiwo Adewale; Ogedengbe Frank Alaba; Nasamu Gambo; Nwoye May Ifeoma
    The success of any construction project largely depends on the ability to manage project costs effectively. However, cost control in the Nigerian construction industry is characterized by numerous issues such as inadequate planning, poor communication, lack of accountability, and corruption. This conceptual review aims to examine the current state of project cost control in the Nigerian construction industry, identify the key factors affecting cost control, and provide insights into possible solutions to these challenges. The Nigerian construction industry has been plagued with cost overruns, delays, and poor project performance, which have led to a significant waste of resources and financial loss. The findings of this review will be useful to stakeholders in the construction industry, including project managers, policymakers, and researchers, and will help to improve the cost management practices in the Nigerian construction industry. The study reveals that ineffective cost control strategies, poor project planning, and inadequate monitoring and control systems are major issues affecting project cost control in Nigeria. The review also highlights the need for a shift towards more proactive and integrated cost control approaches, as well as the adoption of emerging technologies in project cost control. Ultimately, this study provides valuable insights into the challenges faced by project managers in controlling project costs in the Nigerian construction industry and offers recommendations for improving project cost control practices.
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    Market and Operational Risk Impact on Quoted Deposit Money Banks’ Financial Performance in Nigeria
    (Open Journal of Business and Management, 2024-02-02) John Agbana; Abbas Umar Ibrahim; Maitala Faiza
    The rising importance of market and operational risk to controlling financial risks inherent in Deposit Money Banks (DMBs) in Nigeria remains integral to their financial performances. Thus, this study assesses the impact of market and operational risk on DMB performance in Nigeria. Eight (8) years of data between 2015 and 2023 retrieved from the published annual reports of thirteen (13) DMBs were applied for this study. The analysis includes descriptive statistics and inferential statistics of correlation and panel regression for this study. The outcome of this study posits that the variables MRSK and OPSK have an impact of approximately 66%, 61%, and 65% on ROA for the pooled effect model, fixed effect model, and random effect model, respectively while their impact on EPS shows an impact of about 70%, 74% and 73% correspondingly for all the scenarios applied indicating that MRSK and OPSK are positive and negative predictors respectively. This study concluded that there has been a significant impact of both the MRSK and OPSK on EPS and ROA for the pooled, fixed and random effect model respectively for the period under review. This study recommended that management should prioritise implementing cost management measures to reduce the ratio of operating expenditures, which will ultimately result in improved profit margins. If the bank does not aggressively address recurrent modest losses in its daily operations, which are often caused by its inability to utilise its fixed costs effectively, its demise is inevitable