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Variations in approved cost of projects are common and could be triggered by a fluctuation in interest rates and variation project duration. The paper aimed to explain the effect of time overrun (TO) and inflation rate on project completion cost (PCO). Variations in costs and durations of projects were calculated for 250 government and private building projects executed between 2005 and 2015, while inflation rates for the last quarter of these years were used. A multiple regression analysis of cost overrun as the endogenous variable, with time overrun and inflation rates as the exogenous variable was conducted for private and government funded projects. The result revealed that the cost overrun can be predicted by the equations; predicted private cost overrun = -669673.60 + 50182.35 (time overrun) + 106690.20 (inflation rate), and predicted government cost overrun = -9805996 – 148721.90 (time overrun) + 1266038 (inflation rate) respectively for private and government funded projects. Also, while there is an evidence of significant relationship between completion cost of projects and variations in time and inflation rate for both private and government funded projects, the mean variations between time overrun and inflation rate viz-a-viz completion cost are not equal for private and government funded projects.

The study assessed the performance of public sector funded infrastructure in Nigeria, with a special focus on airports. It utilized secondary data obtained from the Federal Airports Authority of Nigeria (FAAN), the Nigerian Civil Aviation Authority (NCAA), and the National Bureau of Statistics (NBS) covering the period 2004 to 2016. A simple regression analyses of the data were carried out using total number of employees as the predictor variable and the total aircraft movement, total passenger movement, and total cargo movement as the dependent variables. The results of the analyses show that the p values calculated were < 0.05 alpha value, implying existence of a statistical relationship among the dependent variables (aircraft movement, passenger throughput, and cargo throughput) and independent variable (number of employees). Furthermore, the time series graphs show fluctuations in growth of the outputs (passenger throughput, aircraft movement and cargo throughput) for the Nigerian air transport system at various periods. This study has shown that there is a need for the government and stakeholders to take immediate actions in tackling factors responsible for the decline and fluctuations in the air transport industry.