Nigeria Construction Markets, Key Trends and Opportunities Report 2021-2025 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Construction in Nigeria - Key Trends and Opportunities to 2025 (Q2 2021)" report has been added to ResearchAndMarkets.com's offering.

Nigeria's construction industry declined by 7.7% in real terms in 2020, hit by the disruption caused by the COVID-19 pandemic. The industry plummeted by 31.8% year on year (YoY) in Q2 2020, but it improved in the second half of the year - according to the National Bureau of Statistics (NBS), the Nigerian construction industry grew by 1.2% YoY in Q4, and 2.8% in Q3.

In 2021, the industry is expected to improve, assuming a slowdown in COVID-19 cases and recovery in the global economy. The publisher expects the construction industry to grow by 3.9% this year. This growth will be driven by a sharp recovery in output levels compared to periods when works were not permitted or were severely restricted in 2020, with Q2 2021 in particular recording high growth YoY, assuming there is no repeat of the strict lockdown similar to last year.

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, presented by President Buhari to the National Assembly, 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) will be discussed in the Nigerian Senate, which has faced legislative delays since 2007, and 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 COVID-19 pandemic, which triggered a 60% collapse in Nigerian government revenues in 2020, may lead to a pressing need to reform the sector. Without the reforms under the PIB, the country remains, to some extent, an uncertain investment.

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

• 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

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/pw5g23