Cost Benefit Analysis and Public Projects Execution in Lagos State Nigeria

Abstract

Government of nations faces the projects selection task, a situation where the main problem is to choose the project among others in certain needs and terms. In this context, project appraisal, which assesses a project's net contribution to overall social welfare, becomes particularly difficult. This is because traditional appraisal methods are inadequate, as they cannot accurately measure the value of the utility or benefits the society will gain from the project in quantifiable monetary terms. This paper examined effect of cost benefit analysis on public projects execution in Lagos State, Nigeria.  The paper employed survey research design by distributing questionnaires to the target population. The study adopted sampling technique. The data was collected using a five scale structured questionnaires. The results show that Cost Benefit Analysis has an effect on Quality Strategic Decision in Nigeria, (Adj. R² = 0.302, F = 20.801, P < 0.000). The result show that cost benefit analysis has an effect on quality and durability of the projects in Nigeria; (Adj. R² = 0.398, F = 31.199, P < 0.000). Arising from the findings, the paper concluded that cost benefit analysis has a significant influence on public projects execution in Lagos State, Nigeria. The study recommended that the government, policymakers, and the general public in Nigeria should demonstrate patriotism and ethical responsibility in fulfilling their respective duties.