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2024-09-29

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Vol. 9 No. 9 (2024): Published

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How to Cite

Ebekozien, A., Ahmed Hafez, M., Aigbavboa, C., Samsurijan, M. S., Oke, E. A., Ebekozien, E. O., & Momoh, N. I. (2024). Appraising the impact of currency redesign on the nigerian construction artisans in the informal sector. Environment and Social Psychology, 9(9). https://doi.org/10.59429/esp.v9i9.2968

Appraising the impact of currency redesign on the nigerian construction artisans in the informal sector

Andrew Ebekozien

Department of Engineering, INTI International University, Nilai, 71800, Malaysia Department of Construction Management and Quantity Surveying, University of Johannesburg, Johannesburg, 2092, South Africa 3 Department of Quantity Surveying, Auchi Polytechnic, Auchi, 312101, Nigeria Development Planning and Management, School of Social Sciences, Universiti Sains Malaysia, Gelugor, 11700, Malaysia

http://orcid.org/0000-0002-4663-5592

Mohamed Ahmed Hafez

INTI International University

Clinton Aigbavboa

University of Johannesburg

Mohamad Shaharudin Samsurijan

Universiti Sains Malaysia

Emmanuel Ayodeji Oke

Department of Construction Management and Quantity Surveying, University of Johannesburg, Johannesburg, 2092, South Africa Department of Quantity Surveying, Federal University of Technology, Akure, 340282, Nigeria

Ehimemen Osebuohien Ebekozien

Department of Electrical and Electronic Engineering, Edo State University, Uzairue, 312002, Nigeria

Nurudeen Ibrahim Momoh

Edo State University


DOI: https://doi.org/10.59429/esp.v9i9.2968


Keywords: Currency redesign, construction sector, informal sector, Naira, Nigeria, sustainable development goals 1 and 2

Abstract

The currency redesign era may complicate financial transactions for construction artisans in the informal sector and threaten to achieve sustainable development goals (SDGs) (1 and 2). The majority still need a bank account which may increase unemployment and hunger. Therefore, the study investigated Nigerian construction artisans’ challenges in the informal sector and proffered measures to mitigate future currency redesign challenges and, by extension, improve achieving Goals 1 and 2. The study employed a qualitative research design and engaged 28 knowledgeable participants in Lagos, Nigeria. The research achieved saturation with the selected participants and used a thematic analysis to analyse the collected data. The study shows that currency redesign is germane to construction sector advancement and developing economies at large. The impact includes increased unemployment, hunger, low patronage and productivity. These are threats to achieving Sustainable Development Goals 1 and 2. Among the top-ranked measures suggested are encouraging bank account openings, currency redesign should be in sequence and planned, public education and cash handler education purposes, and skills training (reskilling and upskilling). The study extends currency redesign and the construction artisans in the informal sector literature by showing that currency redesign is pertinent to the sector’s growth.

Author Biographies

Andrew Ebekozien, Department of Engineering, INTI International University, Nilai, 71800, Malaysia Department of Construction Management and Quantity Surveying, University of Johannesburg, Johannesburg, 2092, South Africa 3 Department of Quantity Surveying, Auchi Polytechnic, Auchi, 312101, Nigeria Development Planning and Management, School of Social Sciences, Universiti Sains Malaysia, Gelugor, 11700, Malaysia

Senior Research Associate

Mohamed Ahmed Hafez, INTI International University

Professor in th Department of Engineering

Clinton Aigbavboa, University of Johannesburg

Professor in the Department of Const Mgt and QS.

Mohamad Shaharudin Samsurijan, Universiti Sains Malaysia

Professor

Emmanuel Ayodeji Oke, Department of Construction Management and Quantity Surveying, University of Johannesburg, Johannesburg, 2092, South Africa Department of Quantity Surveying, Federal University of Technology, Akure, 340282, Nigeria

Professor

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