PUBLISHER: GlobalData | PRODUCT CODE: 1076260
PUBLISHER: GlobalData | PRODUCT CODE: 1076260
Nigeria Construction Market Size, Trends and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2022-2026
GlobalData expects the construction industry in Nigeria to grow by 4% in real terms in 2022, down from a previous projection of 5.7% growth this year. The downward revision primarily reflects the impact of rising inflation, supply chain disruptions, and a drop in consumer confidence during the first half of this year. However, the industry's growth this year will be aided by developments in transportation and energy infrastructure, combined with an increase in domestic and foreign direct investments. According to the National Bureau of Statistics (NBS), total domestic and foreign investment in the country rose by 1.8% year on year (YoY) in the first six months of 2022, rising from NGN1.1 trillion ($2.8 billion) in H1 2021 to NGN1.3 trillion ($3.1 billion) in H2 2022. In terms of foreign direct investment (FDI), the country recorded NGN127 billion ($309.9 million) in the first six months of 2022, compared to NGN118.6 million ($289.3 million) in the same period of 2021-representing a 7.1% YoY increase.
GlobalData expects the industry to register annual average growth of 3.1% 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 ($121.3 billion) for infrastructure projects during the period, with NGN298.3 trillion ($727.8 billion) expected from the private sector. It also plans to increase FDI from NGN605.8 billion ($1.5 billion) in 2020 to NGN2 trillion ($4.9 billion) by 2025. By 2025, the government also aims to boost the contribution of non-oil exports by introducing effective trade policies and strategies.
The report provides detailed market analysis, information and insights into Nigeria's construction industry, including -
- Nigeria's 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 Nigeria's 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 GlobalData'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 GlobalData's critical and actionable insight.
- Assess business risks, including cost, regulatory and competitive pressures.
- Evaluate competitive risk and success factors.
Table of Contents
Table of Contents
1 Executive Summary
2 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 Us
List of Tables
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
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: Region, 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)
