The Nigerian construction industry is expected to grow by 3.1% in real terms in 2025, supported by a rise in construction loans, and the government’s investment in oil and gas and infrastructure projects. According to the Central Bank of Nigeria (CBN), the annual average total credit to the construction industry grew 5% year-on-year (YoY) at the end of April 2025, reaching NGN2.4 trillion ($1.3 billion), compared to NGN2.2 trillion ($1.2 billion) at the end of April 2024; preceded by annual growth of 61.4% in 2024. Similarly, the total credit to the Downstream Natural Gas and Crude Oil Refining industry grew by 8% YoY over the same period. The construction industry growth in 2025 will also be supported by the Nigerian President plans to increase the budget expenditure for 2025 from NGN49.7 trillion ($33.1 billion), which was initially presented to the National Assembly in December 2024, to NGN54.2 trillion ($36.1 billion). In terms of oil and gas investments, in February 2025, the government revealed that it plans to boost its oil production capacity from 1.75 million bpd as of February 2025 to 2.75 million bpd by December 2026.
Over the remainder of the forecast period, the Nigerian construction industry is expected to register an average annual growth of 3.2% from 2026 to 2029, supported by investments in the agriculture industry, oil and gas, and energy sectors, coupled with the government’s target of achieving carbon neutrality by 2060 under its Energy Transition Plan (ETP). In April 2025, the African Development Bank Group (AfDB), a Côte d’Ivoire-based private banking company, launched the NGN970.1 billion ($538 million) Special Agro-Industrial Processing Zones (SAPZ) program, which is spanning eight states - Kaduna, Kano, Kwara, Cross River, Imo, Ogun, Oyo, and the Federal Capital Territory.
Over the remainder of the forecast period, the Nigerian construction industry is expected to register an average annual growth of 3.2% from 2026 to 2029, supported by investments in the agriculture industry, oil and gas, and energy sectors, coupled with the government’s target of achieving carbon neutrality by 2060 under its Energy Transition Plan (ETP). In April 2025, the African Development Bank Group (AfDB), a Côte d’Ivoire-based private banking company, launched the NGN970.1 billion ($538 million) Special Agro-Industrial Processing Zones (SAPZ) program, which is spanning eight states - Kaduna, Kano, Kwara, Cross River, Imo, Ogun, Oyo, and the Federal Capital Territory.
The Construction in Nigeria - Key Trends and Opportunities to 2029 (Q2 2025) 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 (2020-2024) and forecast (2025-2029) 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 our 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 business strategies using the analyst's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Table of Contents
1 Executive Summary2 Construction Industry: At-a-Glance6 Construction Market Data
3 Context
4 Construction Outlook
5 Key Industry Participants
7 Appendix
List of Tables
List of Figures
