A Methodological Review of Project Cost Management Research in the Nigerian Oil and Gas Industry

OJO, Ayodeji Oluwafemi

doi:10.55524/ijirem.2026.13.4.1

Abstract

Project cost management remains one of the most persistent challenges confronting the Nigerian oil and gas industry, an industry that accounts for a substantial share of the nation's foreign exchange earnings and government revenue. Despite a growing body of empirical and conceptual literature addressing cost overruns, cost control practices, and cost estimation in this sector, comparatively little attention has been paid to the methodological character of this research itself. This paper undertakes a methodological review of studies published between 2005 and 2026 that examine project cost management within the Nigerian oil and gas context. Using an adapted Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) protocol, forty-one peer-reviewed articles, conference papers, and these were identified, screened, and synthesised. The review examines the research philosophies, designs, sampling strategies, data collection instruments, and analytical techniques employed across the literature. Findings indicate a strong dominance of quantitative, survey-based, positivist research (46 percent of reviewed studies), a comparatively limited use of longitudinal and mixed-method designs, and heavy reliance on descriptive statistical tools such as the Relative Importance Index and Mean Item Score, with more advanced techniques such as structural equation modelling and machine learning appearing only in recent years. The paper further synthesises reported cost overrun magnitudes across upstream, midstream, downstream, and EPC/construction project categories. The review concludes that methodological diversification, larger and more representative samples, and greater use of longitudinal and mixed-method designs are needed to strengthen the evidential base for cost management theory and practice in the Nigerian oil and gas sector. Recommendations for future research direction are provided.

Keywords

Project Cost Management, Oil and Gas Industry, Nigeria, Research Methodology, Cost Overrun, Systematic Review, Methodological Review

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Cites this article as

O. A. Oluwafemi "A Methodological Review of Project Cost Management Research in the Nigerian Oil and Gas Industry", International Journal of Innovative Research in Engineering and Management (IJIREM), Vol-13, Issue-4, Page No-1-10, 2026. Available from: https://doi.org/10.55524/ijirem.2026.13.4.1

Corresponding Author

OJO, Ayodeji Oluwafemi

Subject Matter Expert, Kazian School of Management, Maharashtra, India

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