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974376

Construction in Nigeria - Key Trends and Opportunities to 2025 (Q3 2021)

Published: | GlobalData | 47 Pages | Delivery time: 1-2 business days

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Construction in Nigeria - Key Trends and Opportunities to 2025 (Q3 2021)
Published: August 17, 2021
GlobalData
Content info: 47 Pages
Delivery time: 1-2 business days
  • ALL
  • Description
  • Table of Contents
Description

GlobalData expects Nigeria's construction industry to grow by 3.9% in real terms this year, following a contraction of 7.7% in 2020. The negative impact from the pandemic, lockdown measures and low oil prices pushed Nigeria into a recession in 2020, with weak public investment, alongside limited foreign direct investment (FDI) amid the global economic downturn, further hampering construction activity across all sectors, especially in retail and real estate.

In 2021, the industry's performance will be positive, reflecting a sharp recovery in construction activity compared to periods in 2020, when works were not permitted. Assuming there is no repeat of the strict lockdown similar to last year, the construction industry is expected to register healthy growth in the coming quarters. According to the National Bureau of Statistics (NBS), the Nigerian construction industry grew by 1.4% year on year (YoY) in Q1 2021, preceded by 1.2% growth in Q4 and 2.8% in Q3 2020.

The industry is expected to post an annual average growth rate of 3.2% in real terms between 2022-2025, supported by the government's plan to invest in the country's infrastructure and energy sector. The 2021 Appropriation Bill is designed to continue achieving the goals of the Economic Sustainability Plan, which provides a road map for post-COVID-19 economic recovery to transition from the Economic Recovery and Growth Plan (2017-2020) to the successor Medium-Term National Development Plan (2021-2025).

The industry's output is also expected to be supported by the government's plans to improve energy and transport infrastructure. Moreover, the Petroleum Industry Bill (PIB) is expected to bring in new investments in energy infrastructure. On 1st July 2021, the Nigerian Senate officially passed the PIB, after deliberation and input by both legislative and executive arms of government. The PIB aims to increase government revenue from oil and establish a strong legal and regulatory framework for the Nigerian oil industry. The plunge in global oil prices due to the COVID-19 pandemic - which triggered a 60% collapse in Nigerian government revenues in 2020 - may lead to a pressing need to reform the sector.

This 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 (2016-2020) and forecast (2021-2025) 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
Product Code: GDCN0722MR

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), 2016-2025
  • Table 4: Nigeria, Top Commercial Construction Projects by Value
  • Table 5: Nigeria, Industrial Construction Output by Project Type (Real % Change), 2016-2025
  • Table 6: Nigeria, Top Industrial Construction Projects by Value
  • Table 7: Nigeria, Infrastructure Construction Output by Project Type (Real % Change), 2016-2025
  • Table 8: Nigeria, Top Infrastructure Construction Projects by Value
  • Table 9: Nigeria, Energy and Utilities Construction Output by Project Type (Real % Change), 2016-2025
  • Table 10: Nigeria, Top Energy and Utilities Construction Projects by Value
  • Table 11: Nigeria, Institutional Construction Output by Project Type (Real % Change), 2016-2025
  • Table 12: Nigeria, Top Institutional Construction Projects by Value
  • Table 13: Nigeria, Residential Construction Output by Project Type (Real % Change), 2016-2025
  • 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, US$ 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 and 2021
  • Figure 2: Nigeria, Construction Projects Pipeline by Sector (US$ Billion)
  • 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, US$ Billion, 2017 Prices and Exchange Rate), 2016-2025
  • Figure 7: Nigeria, Construction Output Value, by Sector (Real, US$ Million), 2016-2025
  • Figure 8: Nigeria, Construction Value-Add (NGN Million, 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, US$ Million), 2016-2025
  • Figure 12: Nigeria, Commercial Construction Projects Pipeline, Value by Stage (US$ 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, US$ Million), 2016-2025
  • Figure 15: Nigeria, Industrial Construction Projects Pipeline, Value by Stage (US$ 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, US$ Million), 2016-2025
  • Figure 19: Nigeria, Infrastructure Construction Projects Pipeline, Value by Stage (US$ Million)
  • Figure 20: Nigeria, Energy and Utilities Construction Output by Project Type (Real, US$ Million), 2016-2025
  • Figure 21: Nigeria, Energy and Utilities Construction Projects Pipeline, Value by Stage (US$ 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, US$ Million), 2016-2025
  • Figure 24: Nigeria, Institutional Construction Projects Pipeline, Value by Stage (US$ 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, US$ Million), 2016-2025
  • Figure 28: Nigeria, Residential Construction Projects Pipeline, Value by Stage (US$ 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)