Nigeria Construction Market Trends and Opportunities Report 2021-2025 - ResearchAndMarkets.com

The "Construction in Nigeria - Key Trends and Opportunities to 2025 (Q4 2021)" report has been added to ResearchAndMarkets.com's offering.

Nigerian construction industry to expand by 2.3% in real terms this year, which is a relatively sluggish recovery from the 2020 contraction of 7.7%.

Although the expansion in output in 2021 will be supported by the easing of restrictions, the gradual recovery in overall economic conditions, and investments in the healthcare and energy sector, total construction output will not surpass 2019 levels until 2023.

The industry recorded a steady improving trend in the first half of this year, with its value add expanding by 3.7% year on year (YoY) in Q2 2021, compared to the year-on-year (Y-o-Y) growth rates of 1.4% in Q1 2021 and 1.2% in Q4 2020, according to the National Bureau of Statistics (NBS).

Assuming there is no repeat of the strict lockdown similar to last year, the industry is projected to continue recovering over the remainder of the forecast period, and register an annual average growth of 3.8% between 2022-2025, supported by the government's investment on infrastructure and housing development projects. 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), which was officially passed in July 2021, is expected to bring in new investments in energy infrastructure.

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 Coronavirus (COVID-19) pandemic - which triggered a 60% collapse in Nigerian government revenues in 2020 - may lead to a pressing need to reform the sector.

Furthermore, through a 10-year scheme, known as the Road Infrastructure Development and Refurbishment Investment Tax Credit Scheme, which was announced in 2019, the government plans to attract investment in country, which will further boost the infrastructure sector.

Report Insights

• 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

• 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

Key Topics Covered:

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

For more information about this report visit https://www.researchandmarkets.com/r/dv0f5l

View source version on businesswire.com: https://www.businesswire.com/news/home/20220119005579/en/