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Nigeria Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026

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    Report

  • 47 Pages
  • June 2022
  • Region: Nigeria
  • GlobalData
  • ID: 5595408
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The construction industry in Nigeria is expected to expand by 5.7% in real terms in 2022, following an annual growth of 3.1% in 2021. The industry’s growth in 2022 will be supported by gradual recovery in overall economic conditions amid the easing of Coronavirus (COVID-19)-related travel and business restrictions, coupled with government investments to complete longstanding infrastructure projects ahead of the 2023 elections. The Nigerian Parliament approved the latest NGN17.13 trillion ($42.4 billion) Budget in December 2021. It includes a capital expenditure of NGN5.96 trillion ($14.8 billion) in 2022, with significant allocations in the housing, education, water, health, transport and power sectors, among others.

The publisher expects the industry to register annual growth in the range of 3-3.3% from 2023 to 2026, supported by investments as part of the National Development Plan 2021-25, which was unveiled in December 2021. The plan focuses on economic rejuvenation, including strengthening industrialization and alleviating poverty. The government plans capital expenditure of NGN49.7 trillion ($123.1 billion) for infrastructure projects during the period, with NGN298.3 trillion ($738.6 billion) expected from the private sector. It also plans to increase foreign direct investment (FDI) from NGN605.8 billion ($1.5 billion) in 2020 to NGN2 trillion ($5 billion) by 2025. By 2025, the government also aims to boost the contribution of non-oil exports by introducing effective trade policies and strategies.

To support the infrastructure sector, in February 2021 President Muhammadu Buhari approved the development of the new privately managed investment, infrastructure and industrial vehicle - Infrastructure Corporation of Nigeria (InfraCorp). It was launched with an initial capital of NGN1 trillion ($2.5 billion) for the construction of critical infrastructure projects to accelerate economic growth. In a recent development, in April 2022, the Central Bank of Nigeria (CBN) signed a term sheet with InfraCorp and four infrastructure asset managers to develop infrastructure. The corporation is expected to raise NGN15 trillion ($37.1 billion) to support investment in critical infrastructure

The report provides detailed market analysis, information and insights into the Nigerian construction industry, including:
  • The Nigerian construction industry's growth prospects by market, project type and construction activity
  • Critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the Nigerian construction industry
  • Analysis of the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.

Scope


This report provides a comprehensive analysis of the construction industry in Nigeria. It provides:
  • Historical (2017-2021) and forecast (2022-2026) valuations of the construction industry in Nigeria, featuring details of key growth drivers.
  • Segmentation by sector (commercial, industrial, infrastructure, energy and utilities, institutional and residential) and by sub-sector
  • Analysis of the mega-project pipeline, including breakdowns by development stage across all sectors, and projected spending on projects in the existing pipeline.
  • Listings of major projects, in addition to details of leading contractors and consultants

Reasons to Buy

  • Identify and evaluate market opportunities using the publisher's standardized valuation and forecasting methodologies.
  • Assess market growth potential at a micro-level with over 600 time-series data forecasts.
  • Understand the latest industry and market trends.
  • Formulate and validate strategy using the publisher's critical and actionable insight.
  • Assess business risks, including cost, regulatory and competitive pressures.
  • Evaluate competitive risk and success factors.

1 Executive Summary2 Construction Industry: At-a-Glance
3 Context
3.1 Economic Performance
3.2 Political Environment and Policy
3.3 Demographics
3.4 COVID-19 Status
3.5 Risk Profile
4 Construction Outlook
4.1 All Construction
  • Outlook
  • Latest news and developments
  • Construction Projects Momentum Index
4.2 Commercial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.3 Industrial Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.4 Infrastructure Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.5 Energy and Utilities Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.6 Institutional Construction
  • Outlook
  • Project analytics
  • Latest news and developments
4.7 Residential Construction
  • Outlook
  • Project analytics
  • Latest news and developments
5 Key Industry Participants
5.1 Contractors
5.2 Consultants
6 Construction Market Data
7 Appendix
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
7.4 GlobalData Construction
  • Contact the Publisher
List of Tables
Table 1: Construction Industry Key Data
Table 2: Nigeria, Key Economic Indicators
Table 3: Nigeria, Commercial Construction Output by Project Type (Real % Change), 2017-26
Table 4: Nigeria, Top Commercial Construction Projects by Value
Table 5: Nigeria, Industrial Construction Output by Project Type (Real % Change), 2017-26
Table 6: Nigeria, Top Industrial Construction Projects by Value
Table 7: Nigeria, Infrastructure Construction Output by Project Type (Real % Change), 2017-26
Table 8: Nigeria, Top Infrastructure Construction Projects by Value
Table 9: Nigeria, Energy and Utilities Construction Output by Project Type (Real % Change), 2017-26
Table 10: Nigeria, Top Energy and Utilities Construction Projects by Value
Table 11: Nigeria, Institutional Construction Output by Project Type (Real % Change), 2017-26
Table 12: Nigeria, Top Institutional Construction Projects by Value
Table 13: Nigeria, Residential Construction Output by Project Type (Real % Change), 2017-26
Table 14: Nigeria, Top Residential Construction Projects by Value
Table 15: Nigeria, Key Contractors
Table 16: Nigeria, Key Consultants
Table 17: Nigeria, Construction Output Value (Real, $ Million)
Table 18: Nigeria, Construction Output Value (Nominal, NGN Billion)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Sub-Saharan Africa, Construction Output (Real % Change), 2020-26
Figure 2: Nigeria, Construction Output by Sector (Real % Change), 2020-22 and 2023-26
Figure 3: Nigeria, COVID-19 Confirmed Cases
Figure 4: Nigeria, Risk Summary
Figure 5: Nigeria, Risk Regional Comparison
Figure 6: Nigeria, Construction Output Value (Real, $ Billion, 2017 Prices and Exchange Rate), 2017-26
Figure 7: Nigeria, Construction Output Value, by Sector (Real, $ Million), 2017-26
Figure 8: Nigeria, Construction Value Add (NGN Billion, 2010 Constant Prices)
Figure 9: Nigeria, Construction Projects Momentum Index
Figure 10: Middle East and Africa, Construction Projects Momentum Index
Figure 11: Nigeria, Commercial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 12: Nigeria, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 13: Nigeria, Accommodation and Food Services Value Add (NGN Million, 2010 Constant Prices)
Figure 14: Nigeria, Industrial Construction Output by Project Type (Real, $ Million), 2017-26
Figure 15: Nigeria, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
Figure 16: Nigeria, Manufacturing Value Add (NGN Billion, 2010 Constant Prices)
Figure 17: Nigeria, Total Export Value (NGN Billion)
Figure 18: Nigeria, Infrastructure Construction Output by Project Type (Real, $ Million), 2017-26
Figure 19: Nigeria, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 20: Nigeria, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2017-26
Figure 21: Nigeria, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
Figure 22: Nigeria, Telecommunications and Information Services Value Add (NGN Billion, 2010 Constant Prices)
Figure 23: Nigeria, Institutional Construction Output by Project Type (Real, $ Million), 2017-26
Figure 24: Nigeria, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 25: Nigeria, Education Sector Value Add (NGN Million, 2010 Constant Prices)
Figure 26: Nigeria, Human Health and Social Services Value Add (NGN Million, 2010 Constant Prices)
Figure 27: Nigeria, Residential Construction Output by Project Type (Real, $ Million), 2017-26
Figure 28: Nigeria, Residential Construction Projects Pipeline, Value by Stage ($ Million)
Figure 29: Nigeria, Real Estate Value Add (NGN Billion, 2010 Constant Prices)
Figure 30: Nigeria, Headquarters of Key Contractors (% of Total Project Pipeline)
Figure 31: Nigeria, Headquarters of Key Consultants (% of Total Project Pipeline)