114 American Scientific Research Journal for Engineering, Technology, and Sciences (ASRJETS) ISSN (Print) 2313-4410, ISSN (Online) 2313-4402 © Global Society of Scientific Research and Researchers http://asrjetsjournal.org/ Impact of Naira Exchange Rate on Prices of Selected Construction Materials in Ekpoma, Edo State, Nigeria B. O. Obaedo a* , G. E. Oseghale b a Department of Building, Ambrose Alli University, Ekpoma, Nigeria b Department of Building Obafemi Awolowo University, Ile-Ife, Nigeria a Email: obaedobarth@gmail.com, barth.obaedo@aauekpoma.edu.ng b Email: oseghale2006@yahoo.co.uk, oseghaleehis@oauife.edu.ng Abstract This paper presents the result of the impact of naira exchange rate on prices of selected construction materials in Ekpoma of Edo state, Nigeria, by examining the trend in naira exchange rate values and selected construction material prices over a five (5) year duration and the impact of naira exchange rate on the price of selected construction materials. The study extracted information on monthly naira exchange rate values from the monetary authority’s database of the central bank of Nigeria and adopted a survey approach to gather information on the prices of selected construction material. Data obtained were analyzed using percentages, Pearson Correlation Coefficient and regression analysis. Findings revealed that there was a strong positive correlation between the naira exchange rate and construction material prices. The study recommends that the monetary authority should research and implement a naira exchange rate stabilization/reduction policy. Keywords: Construction; Exchange-rate; Material; Naira; Price. 1. Introduction Author [1] envisaged the construction industry would play a powerful role in economic growth and produce structures that will add to productivity and quality of life. Construction objectives are achieved through the harness of resources (Manpower, Money, Machines and Materials). The author [2] outlined that building materials are expected to satisfy three basic functions. The material must meet some technical performance requirements of the building or structure itself to ensure normal use; the building material must resist the erosion of the surrounding and harmful medium in use to ensure a durable building or structure, and the building material must not pose a threat to the safety and health of the user. ------------------------------------------------------------------------ * Corresponding author.