In the bustling heart of Nigeria’s construction industry, a groundbreaking study is making waves, promising to reshape how projects are procured and managed. Led by David Ojimaojo Ebiloma of the cidb Centre of Excellence and Sustainable Human Settlement and Construction Research Centre, this research delves into the impact of blockchain technology barriers on construction procurement systems, offering a roadmap for smoother adoption in the future.
Blockchain technology, with its decentralized system and smart contracts, has been touted as a game-changer in the construction industry. It records every transaction and shares it with all parties involved, addressing issues of delays and trust. However, as Ebiloma points out, “there are significant barriers to its adoption, especially in developing countries like Nigeria.”
The study, published in the journal ‘Advances in Civil Engineering’ (which translates to ‘Advances in Civil Engineering’), collected data from 182 stakeholders in the Nigerian construction industry. These stakeholders, grouped as clients, contractors, and consultants, provided valuable insights through a questionnaire survey. The data was analyzed using descriptive statistics and linear regression, with Cronbach’s alpha used to test for reliability.
The findings are compelling. The study developed statistical impact models of these barriers on critical procurement systems in Nigeria. It predicted that the design and build (DB) procurement system is best suited for the easier adoption of blockchain smart contracts. This is a significant revelation, as it provides a clear direction for the industry to move towards more efficient and transparent procurement processes.
The commercial impacts of this research are substantial, particularly for the energy sector. As construction projects often involve complex procurement systems, the adoption of blockchain technology can streamline processes, reduce delays, and enhance trust among all parties involved. This can lead to more efficient project delivery and significant cost savings.
Ebiloma’s research is a beacon of hope for the Nigerian construction industry. It not only identifies the barriers to blockchain adoption but also provides a roadmap for overcoming these challenges. As the industry moves towards more digital and transparent processes, this study will undoubtedly shape future developments in the field.
In the words of Ebiloma, “This novel study has developed statistical impact models of blockchain barriers on the critical procurement systems in the Nigerian AEC industry, giving a road map for blockchain smart contracts usage.” This is not just a step forward for Nigeria, but a leap towards a more efficient and transparent future for the global construction industry.