Building information modeling (BIM) is promoted as a change agent capable of eliminating industrial complexity, increasing productivity and bringing down the high costs associated with insufficient interoperability. The aim of this study is to investigate related issues on BIM, with the intention to enhance its implementation and benefits in Nigeria. The study’s objectives are to examine the drivers and barriers; and also assess the socio-economic benefits of BIM in the Nigerian construction industry. Lagos State was chosen as the research area due to the volume of ongoing developments in the State. Construction professionals working in consulting, contracting and client organizations constituted the population of this research. Responses from these targeted respondents were collected using purposive sampling strategy. A total of 100 structured questionnaires were circulated, and 55 of them were returned appropriately, indicating 55% response rate. Statistical tools including frequencies, percentages, mean scores, and ranking were used to analyze the data. The study revealed the key drivers for BIM implementation in Nigeria as professionals’ training and preferences for BIM. The study also uncovered several barriers impeding BIM implementation, out of which societal beliefs amongst the industry players and lack of proof of financial benefits are topmost. Moreover, better project quality and performances were the socio-economic benefits of BIM discovered. The study concludes that although there are 19 barriers to the adoption of BIM in Nigeria, the most significant are societal beliefs and the absence of concrete evidence of financial benefits of BIM. The implication is that BIM usage can be enhanced in Nigeria if professionals take conscious effort in determining and documenting the financial gains of BIM on their projects. The study recommends strategies should be developed to mitigate the barriers impeding BIM implementation, especially in the areas of lingering societal beliefs and the absence of concrete evidence of financial benefits. This can be achieved via the objective acceptance of the technology by the contractors without any conflict of interests.