Knowledge Management (KM) significantly enhances the construction industry's efficiency, innovation, and sustainability. However, the successful adoption and implementation of KM practices heavily depend on effective stakeholder collaboration, which often encounters significant challenges. This study investigates the key stakeholder-related barriers to achieving effective KM in the Nigerian construction industry. Using a qualitative research approach, semi-structured interviews were conducted with 24 professionals in Abuja to explore their experiences and perspectives. Data saturation was reached after 16 interviews, with the remaining participants contributing additional contextual insights. Thematic analysis revealed critical challenges, including misalignment of stakeholder objectives, inadequate communication mechanisms, cultural resistance to knowledge sharing, and limited access to KM-enabling technologies. Additional issues included a lack of standardised processes for capturing and disseminating knowledge, insufficient organisational commitment, and the impact of economic instability on resource allocation for KM initiatives. The findings emphasise the need for strategies that promote trust-building, foster collaborative communication, and encourage a culture of continuous learning among stakeholders. The study also highlights the importance of investing in user-friendly KM systems and training stakeholders for effective adoption. The Nigerian construction industry can leverage KM to enhance project delivery and organisational performance by addressing these barriers. This study contributes to the growing knowledge of KM by providing actionable recommendations to improve stakeholder collaboration and drive the success of KM initiatives in construction contexts.