An overview of the contribution of construction sector to sustainable development in Nigeria

Abstract

Sustainable development is normally attained through critical assessment and harnessing of all growth indices. This paper is aimed at assessing the contribution of construction sector to Nigeria economy towards sustainable development. The work was conceptual based on historical data obtained from the Central Bank of Nigeria (CBN) and Nigeria Bureau of Statistics (NBS), which brought to the fore the contributions of construction sector over the years in the nation’s Gross Domestic Products (GDP) and its multi-sectoral outcomes. Construction contribution to the GDP ranges between 3 and 6% from independence to the 80’s before crumbling to about 1% over the last decades. The last four years saw an upward progression in its actual contribution, which stood at about 3% in 2012, due to an improved budgetary implementation and private sector participation. It is noted, that the all-inclusive effects of this sector, and especially its employment generating potentials, makes it a veritable platform for sustainable development especially if proper mechanisms are put in place for the growth of the sector to be stimulated.

Keywords: Construction sector, economy, GDP, Nigeria, sustainable development.