Auditors’ Choice and Financing Decision of Selected Quoted Firms in Nigeria

This study tested the effect of auditors’ choice on financing decision of quoted firms in Nigeria from 2010 to 2014. To successfully carry out this study, the study reviewed various literatures and theoretical issues such as the Modigliani-miller’s theorem, and asymmetric of information hypothesis. Secondary data of the big four, size and return on assets were obtained from financial statement of conglomerate listed firms on the Nigeria stock exchange for 5 years. The data were analyzed using linear regression method to achieve the effect of auditor’s choice on financing decision. The findings of the study reflect the effect of debit capital which are as follows: an increase on the size of the company (SZ) by 1% would lead to an increase in debit capital (DC) by about 648.7%. The study shows that companies with BIG4 auditors have less debt and more equity in their capital structure and are less likely to issue debt. This study may be developed by considering the effect of political and economic institutions on the choice of auditors in Nigeria

MISSING GAPS IN SAFETY EDUCATION AND PRACTICES: ACADEMIA PERSPECTIVES

In the developing countries, the syndrome of low level of safety practices are common phenomenon among construction firms when trying to achieve speedy delivery of construction projects. Various researchers have established factors causing accidents on project sites under unsafe conditions and behaviour of construction workers. This study examined construction safety education embedded in Architecture, Building Technology and Quantity Surveying curricula in some selected tertiary institutions in South-Western Nigeria. Secondary data were sourced from the National Universities Commission (NUC) and National Board for Technical Education (NBTE) curricula through desk review. The descriptive assessment underscored insufficient knowledge coverage because there is no particular course titled construction health and safety in the construction programs curricula. Also, the three top knowledge areas of the respondents on safety practice were: use of personal protective wears, injury and illness prevention and construction all risk and contractors all risk insurance. This study concluded that lack of depth knowledge on safety education is capable of limiting students’ ability to coordinate safety practices, develop Safety Policy when employed in construction industry and as well reduce their employability as Safety Manager. The study therefore recommends that both NUC and NBTE should engage Academic and Industry Partnerships (AIPS), Collaborative Curriculum Designing (CCD) in modifying existing curricula for Architecture, Building Technology and Quantity Surveying programs in Nigerian tertiary institutions that will facilitate better understanding both to planning and managing construction safety rather than applying corrective measures after the havoc has been fully perpetrated

Post Consolidation Effects of Banking Sector Recapitalization on Nigeria Construction Industry (Lagos and Ogun State Case Study)

Abstract: Construction project involves huge capital flow (materials, machines, manpower, management, finance) from inception to completion and handover. Bank consolidation will enhance synergy; improve efficiency through cost reduction revenue in the long- run, reduction in the industry‟s risk by eliminating weak bank and acquiring of smaller ones by the bigger and stronger bankers as well as creating opportunities for greater diversification and financial intermediation. This paper aimed at assessing post consolidation effect of the banking sector recapitalization on construction industry and the major objectives of the study are: assessing the volume of credit facilities given to building contractors by commercial banks the trend in the interest rates charged by commercial banks on credit facilities allocated to building and civil engineering contractors and to evaluate whether building and civil engineering contractors now have better access to credit facilities. This research is purposive and 120 structured questionnaire were distributed to the construction professionals, developer, financial institution houses, and registered building and civil engineering contractors in some selected firm in Lagos State and Ogun state out of which 92 questionnaire were retrieved and analyzed. The result of the hypothesis showed that the level of construction activities financed by banks has not increased during post-consolidation. The paper found out the following as effects of banking sector recapitalization on construction industry which resulted into the inability of the contractors to meet up the outrageous demands for high value collateral to commemorate loan applied for, limited payback period on the loan applied for, because the longer the payback period; the higher the interest rate and finally high interest rate charged on the loan obtained by the contractors which are geometrically increased from 3-30 percentage. The research work thereby recommend Commercial banks need to pay more attention in financing medium and small size firm and their projects as they constitute larger percentage of the Nigeria construction industry, so as to increase their financial activities and expand their assets and recoupin

DETERMINING THE INDIVIDUAL SIGNIFICANT CONTRIBUTION OF PUBLIC AND PRIVATE SECTOR IN HOUSING DELIVERY IN NIGERIA

One of the greatest challenge confronting both rural and urban residents in Nigeria is the need to provide adequate shelter. This study examined the individual significant contribution of the public and private sector in public-private partnerships (PPP) in housing contracts in Ogun State, Nigeria. A field survey was conducted in government ministries (public sector) and some selected professionals (private sector) within the study area. Information gathered from both primary and secondary data was used to determine the significant contribution of the public and private sector in housing delivery. Questionnaires were distributed through systematic sampling method to 58 respondents in both private and public sector participating in PPP housing production in the study area. Result showed that the significant contribution of the public sector in PPP housing provision in Nigeria is the provision of land while the private sector contributes significantly high percentage of finance, manpower and technical support. The study recommended that for successful implementation of PPP housing projects, all tiers of government must strive to complement the weaknesses of the public sector with the strengths of the private sector. Furthermore, since the private sector provides bulk of the finance for PPP housing projects, government should provide a more conducive economic environment to attract more private sector investors

Sustainable locally sourced materials for small-scale paint production

Volatile organic compounds (VOCs) and other unsafe chemicals are used in producing chemical paints which releaseharmful gases within the interior spaces where they have been used, whereas, these hazardous elements or components can be removed and replaced with safer and local materials. The aim of this study is to produce a paint product using sustainable locally sourced materials in a small-scale production. Using an experimental approach, a milk-based and clay-based paint were prepared in the laboratory, while physical and chemical tests were carried out such as adhesion test, application test, opacity, drying test, viscosity test and pH test. Clay, Edible starch, Local pigment (Lamp black and local talc), Dry milk and Lime were used as constituent materials in the preparation of the paint products with water as the solvent. Some of the physical and chemical tests carried fell within reasonable PMAN standards for chemical paints. The study recommendsthat more environmental friendly and sustainable materials should be used to replace hazardous materials used in chemical paints for safe environmen

Influence of secondary aluminum dross (SAD) on compressive strength and water absorption capacity properties of sandcrete block

Secondary aluminum dross (SAD) is a hazardous by-product of the aluminum smelting industry. Among various recycling options of this waste, construction and building materials applications is one of the value-added options to end dumping. The present study, thereby, investigates the influence of SAD on the mechanical and durability properties of sandcrete blocks (SBs). Five partial replacements 0%, 10%, 20%, 30% and 40% of river sand with SAD were experimented at constant water–cement ratio of 0.45. Sixty-three SB samples of size 150 mm × 225 mm × 450 mm were molded and cured at different ages of 7, 14 and 28 days before the hardened blocks were subjected to water absorption and compressive crushing tests. The study results revealed that the water absorption of SAD-blended samples was found to rise with increasing percentage replacement with SAD. Also, the study revealed that beyond 10% replacement with SAD, the investigated properties fall below the required limits as stated in relevant standards. SBs blende

Survey data set sonc ategories of factors militating against safety practice son construction sites

The causesofoccupationalaccidentshavebeenclassified into unsafe conditionsandunsafebehaviour.Interestingly,numerous authors havecontributedtotheissuesofsafetypracticesin managing buildingproductionprocesswithdifferentviewson factors causingconstructionaccidentandinsensitivenesstosafety practices, buttherehavebeenalittleeffortstobringtogether majorcausesandfactorsmilitatingagainstsafetypracticesin unified manners.Therefore,allidentified fortyninefactorsfrom literaturereview [1–32] werebroughttogetherandgroupedinto five differentcategories.Descriptivestatisticswereperformedon the datatorankthesefactorsasaffectedworkmenonconstruction sites. Theresultswerepresentedin figures, text file andtables using MeanScore.Thedatapresentedinthisstudywereenable construction managerstostandardizeprojectrisksassessmentand management

Recycling of Periwinkle ShellWaste as Partial Substitute for Sand and Stone Dust in Lightweight Hollow Sandcrete Blocks towards Environmental Sustainability

Global consumption of nonrenewable natural aggregate for construction activities is now becoming a significant concern. Reusing agricultural or marine-based wastes could offer a promising alternative to achieve natural aggregate conservation and a pollution-free environment. This study investigated the suitability of using crushed periwinkle shell (CPWS) as a reliable constituent material for sand and stone dust in producing hollow sandcrete blocks. The CPWS was used to partially substitute river sand and stone dust at 5, 10, 15 and 20% in sandcrete block mixes using a constant water–cement ratio (w/c) of 0.35. The weight, density and compressive strength of the hardened hollow sandcrete samples were determined after 28 days of curing along with the water absorption rate. Results showed an increase in the water absorbing rate of the sandcrete blocks as CPWS content increased. Mixes containing 5% and 10% CPWS substitute for sand with 100% stone dust surpassed the minimum targeted strength of 2.5 N/mm2. The compressive strength results suggested that CPWS is most suitable to be deployed as a partial substitute for sand as a constant stone dust material, thus imply that the construction industry can achieve sustainable construction with agro or marine-based wastes in hollow sandcrete productio

Adoption, Implementation Information and Communication Technology Platform Application in the Built Environment Professional Practice

The impact of ICT on professional practice has been mainly in making jobs easier for the professions, facilitating decision-making and savings in operating costs, among others. The inefficient national electric power supply system and the high cost of computer hardware and software in relation to the dwindling fortunes of the professions in Nigeria’s depressed economy are the key obstacles to increased investments in ICT. The aim of this study is to understand the extent of ICT applications by professionals in built environment related vocations, with a view to improving the level of ICT application and adoption in Nigeria. A sample size of 82 respondents were used in this study, with questionnaires distributed to construction professionals. Three methods of data analysis were employed for this research. The study assessed the level of ICT application by professionals in built environment related vocations, with a view to improving the level of ICT application in Nigeria via a questionnaire survey with its respondents comprising of Architects, Builders, Engineers, Surveyors, and Quantity Surveyors. It examined the current status of ICT use in the built environment. The study discovered that the most commonly used softwares are; Microsoft Excel (100.0%), MicrosoftWord (98.8%) and Microsoft PowerPoint (93.8%). Whereas, AutoCAD is the most popular at 87.7% for Architectural/ Engineering design and drawing, QSCAD (21.0%) for quantity surveying, BIM 360 at 32.1% for project management and Co-Construct at 19.8% for BuildingManagement. The top three benefits of ICT as perceived by the respondents include time saving, makes job easier, and enhances productivity. Three major challenges faced were erratic power supply, high cost of purchasing ICT related softwares and/ or hardwares, job size and fees. The study recommend the following based on research results; the government should enable provision of steady power supply, as well as each organization to also provide back up options for power in case of power failure

Assessment of Sandcrete Blocks Manufacturers ‘Compliance to Minimum Standard Requirements by Standard Organisation of Nigeria in Southwest, Nigeria

Intensive use of sandcrete hollow blocks in building production has made it essential building materials in Construction Industries. This necessary need has made Sandcrete hollow blocks ‘Manufacturers to play pranks in the Minimum Standard Requirement. This paper assesses the compliance level of Sandcrete Block Manufacturers to Minimum Standard Requirement in Southwest, Nigeria. 54 sandcrete blocks comprising 225 mm and 150 mm were gotten from blocks production sites within three states; Oyo, Ondo, and Lagos State. Samples of their fine aggregates were gotten for proper examination. In order to compare the outcome of the test results with standards, 18 numbers of controlled experimental units which comprised 225 mm and 150 mm were also produced. The results for sieve analysis of the three Samples gotten from South West along with Laboratory sample satisfied the requirement for BS 882:1992[1]. The results of compressive strength values gotten from blocks suppliers within South West failed to meet up the requirements stipulated for load bearing sandcrete blocks by Nigerian Industrial Standard (NIS 87: 2000)[2]. And also indicated shoddy control practice because strength results justified low standards and due to non-adherence to stipulated mix-design (1;8) of (cement and sand)