Construction in Nigeria Market 2018 Analysis,Opportunities and Forecasts to 2022

In real terms  the Nigerian construction industry recovered in 2017 

after registering a gloomy performance in 2016 due to the economic recession. Weak construction activity in 2016 came primarily on the back of high inflation rising unemployment currency devaluation high interest rates low oil prices and reduced oil production which forced the economy into recession; this reduced the pace of public and private sector investment in construction projects.

The industry however gained pace in 2017 supported by government efforts to accelerate the pace of economic growth through increased investment in infrastructure projects. Overall the industry posted positive growth during the review period (2013–2017) registering a compound annual growth rate (CAGR) of 2.88% in real terms.
Over the forecast period (2018–2022) 
the government’s efforts to enhance transport and residential infrastructure will support the growth of the industry. The government’s aim to increase energy production capacity will support investments in energy infrastructure projects. The industry’s output value in real terms is expected to record a CAGR of 5.45% over the forecast period.
The overall expansion in the industry will be driven by the Economic Recovery and Growth Plan (ERGP) 2017–2020 
under which the government aims to achieve sustained and inclusive economic growth. In line with its economic recovery plans 
the government announced budget spending of NGN8.6 trillion (US$26.3 billion) for 2018 – 15.8% higher than the 2017 budget. Accordingly 
the government allocated NGN2.4 trillion (US$7.4 billion) to capital expenditure 
an increase of 28.2% compared to the 2017 budget.
 
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Summary 
The Construction in Nigeria – Key Trends and Opportunities to 2022 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 (2013-2017) and forecast (2018-2022) 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 Timetric'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 Timetric's critical and actionable insight.
• Assess business risks 
including cost 
regulatory and competitive pressures.
• Evaluate competitive risk and success factors.

Key Highlights 
• Timetric expects the infrastructure construction market to retain its leading position over the forecast period
with 29.9% of the industry’s total value in 2022. In order to develop the country’s rail infrastructure 
an agreement was signed in June 2016 between the government of Nigeria and China Civil Engineering Construction Company (CCECC) to construct a new coastal railway line 
connecting Lagos in the south-west and Calabar in the south-east of the country. The total investment in the project is anticipated to be NGN3.6 trillion (US$11.1 billion) 
and is scheduled for completion in 2019. 
…….
 
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Table Of Contents – Major Key Points

1 Executive Summary 

2 Construction Outlook: At-a-glance 

3 Latest News and Indicators 

4 Key Drivers and Risks 
    4.1 Economic Performance 
    4.2 Political Environment 
    4.3 Demographics 

5 Construction Outlook 
    5.1 All Construction 
      5.1.1 Outlook 
      5.1.2 Project analytics 
    5.2 Commercial Construction 
      5.2.1 Outlook 
      5.2.2 Project analytics 
    5.3 Industrial Construction 
      5.3.1 Outlook 
      5.3.2 Project analytics 
    5.4 Infrastructure Construction 
      5.4.1 Outlook 
      5.4.2 Project analytics 
    5.5 Energy and Utilities Construction 
      5.5.1 Outlook 
      5.5.2 Project analytics 
    5.6 Institutional Construction 
      5.6.1 Outlook 
      5.6.2 Project analytics 
    5.7 Residential Construction 
      5.7.1 Outlook 
      5.7.2 Project analytics 

6 Key Industry Participants 
    6.1 Contractors 
    6.2 Consultants 

7 Appendix 
    7.1 What is this Report About? 
    7.2 Definitions 
    7.3 About Timetric 
    7.4 About CIC 
    7.5 Disclaimer

Continued…..

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