Strategic Alliance is a collaborative agreement between two or more companies to develop a joint strategy on certain operation, in which all sides take a win-win attitude. Since the implementation of strategic alliances in the construction industry, there has been a great significant impact on financial performance in any approach this procurement model takes. In line with the development, this study contributed to the research field within the strategic alliance procurement in the construction industry by focusing on the impact of the strategic alliance on Nigerian construction industry's financial performance in order to enhance awareness of strategic alliance in the Nigerian construction industry. The study embraced survey design in gathering information from questionnaires given to construction professionals. Mean Item Score (MIS) and Kruskal-Wallis Test (K-W) were used in analyzing data gathered from three hundred and sixty-three (363) respondents. Cronbach’s ? test was utilized to check the reliability level of the instrument used. It was indicted from the paper that Open door to new funding opportunities, Ability to accrue economies of scale and scope in value-added activities, easy cash flow Coordination are the major effect of strategic alliance on the financial performance of Nigerian construction industry. The study also recommended that there should be a developed structure and standardized form of sharing formulae for profit and financial report should be given when required to ensuring openness with better understanding between both parties in other to prevent rift and lack of trust for each other.