The Nigerian construction industry is plague with various prevailing problems, such as the problem of failing to achieve value for money for its clients. Construction clients in Nigeria are not achieving values in their constructed facilities in terms of time , cost , quality , functions, maintenance and total satisfactions of their invetment in the construction industry. This paper report the findings of a study assessing the practice of value management in the Nigerian construction industry. It examines how VM could be applied in order to facilitate value for money in Nigeria. The methodology of the study combines library search, internet retrieval and primary data collected from those who are considered experts in cost management and value management in Nigeria. The findings suggest that values management (VM) could be applied in order to facilitate the achievement of value for the clients in Nigeria: however , it was revealed that the Nigerian construction professionals are not familiar with value management. The paper concluded by recommending the introduction of VM to the Nigerian construction industry as an effort to achieve value for money for its client.