An Assessment Of The Use, Benefits And Challenges Of The ‘Cash–Lite’ Policy, For Construction Projects In Anambra State, Nigeria

The introduction of the ‘Cash-Lite; a cashless policy, by the Central Bank of Nigeria in 2011 has changed the modus operandi of the construction industry. This is because the industry is one of the few industries that deal mostly with cash. Hence, this study is aimed at examining the development and implementation of the Nigerian ‘Cash-Lite’ policy, with a view to ascertain its effects on construction practice. The study examined 300 construction stakeholders using questionnaires. Data obtained from these sources was analysed using charts, table of frequency, mean scores and Ztest. However, the data analysis was aided by a computer database software packages - SPSS Statistic. The study observed that the integration of cashless policy into construction work will boost productivity/construction output via reducing the rate of visit to banks, reducing theft/corruption, reducing project time and encourage prompt settlement of transaction. In addition to this, the study observed that the structure of the industry encourages the integration of this policy to construction but security (cyber theft), lack of knowledge, cost of installation and operation, reliability of the service and supporting services and low public acceptance are the major challenges affecting its adoption in construction. Finally, the study recommends that construction workers and other construction stakeholders should be properly sensitized on the use of cashless tools

Digital Transformation in the Nigeria Construction Industry: The Professionals' View

Abstract This study examined the perception of construction professionals and the extent of digital transformation in the Nigeria construction industry. A questionnaire survey was carried out where 84 copies of questionnaires containing information relating to digital technologies trends and transformation were randomly administered to the selected construction professionals in Anambra State Nigeria. 80 were completed, returned and found useful, thus, giving a response rate of 95.24%. Data collected were analysed and presented using mean, percentages, charts and relative importance index (RII). The study revealed that 69% and 12% of the professionals viewed digital transformation as opportunity and threat respectively, whereas; 19% viewed it as both threat and opportunity. It further revealed that 63% were satisfied with their firms' readiness to transform digitally. The study then observed that application of digital technologies among construction firms in the study area was still at infancy due to lack capacity, critical knowledge and digital transformation enthusiasm among managerial teams. It was therefore, evident that digital transformation would help the industry to better its data storage and management capacity, increase employee productivity and gain competitive advantage. The study recommended collaboration between government and relevant regulatory bodies in Nigeria construction industry to workout appropriate roadmap that would position the industry in the right track towards transforming digitally