Nigeria Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2028
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Nigeria Construction Market Report Overview
The Nigeria construction market size was $136.6 billion in 2023. The market will grow at an AAGR of 3% during 2025-2028. Investment in electricity, transport, industrial, infrastructure, and oil and gas projects will aid the growth of the Nigerian construction market.
Nigeria Construction Market Outlook, 2023-2028 ($ Billion)
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The Nigeria construction market research report offers detailed market analysis, information, and insights into the Nigerian construction industry. It includes the Nigerian construction industry’s growth prospects by market, project type, and construction activity. The report additionally provides critical insight into the impact of industry trends and issues, as well as an analysis of key risks and opportunities in the industry. The report analyses the mega-project pipeline, focusing on development stages and participants, in addition to listings of major projects in the pipeline.
Market Size (2023) | $136.6 billion |
AAGR (2025-2028) | >3% |
Forecast Period | 2024-2028 |
Historical Period | 2019-2023 |
Key Sectors | · Commercial Construction
· Industrial Construction · Infrastructure Construction · Energy and Utilities Construction · Institutional Construction · Residential Construction |
Key Contractors | · China Railway Construction Corporation Group
· Julius Berger Nigeria Plc · Haliburg Group · Chagoury Group · Daewoo Engineering & Construction Co Ltd |
Key Consultants | · Dar Al-Handasah Consultants Shair and Partners Holdings Ltd (Dar Group)
· AECOM · Worley Ltd · Arcadis NV · KBR Inc |
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Nigeria Construction Market Segmentation by Sectors
Infrastructure construction was the leading sector in the Nigeria construction market in 2023
The key sectors in the Nigeria construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. However, energy and utilities construction and residential construction also had a significant share in the Nigerian construction market in 2023.
Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. Investment in the road, rail, and port infrastructure projects will support the growth of the sector.
Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction industry will expand in 2024 and will further grow over the forecast period owing to investments in housing projects.
Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. Investment in oil and gas, renewable energy, and telecommunications infrastructure projects will drive the sector’s growth.
Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. The commercial construction sector in the Nigerian construction industry will expand during the period 2025-2028 owing to investment in the leisure and hospitality, retail, office, and data center buildings.
Industrial construction: The project types in this sector include chemical and pharmaceutical plants, manufacturing plants, metal and material production and processing plants, and waste processing plants.
Improvement in manufacturing activity and an increase in investment in the electric vehicle (EV) manufacturing sector will aid the sector’s growth.
Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. The government’s ongoing efforts to develop and expand the country’s educational infrastructure, coupled with an increase in investment in healthcare infrastructure will aid the sector’s growth.
Nigeria Construction Market Analysis by Sectors, 2023 (%)
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Nigeria Construction Market - Competitive Landscape
China Railway Construction Corporation Group emerged as the leading contractor and Dar Al-Handasah Consultants Shair and Partners Holdings Ltd (Dar Group) as the leading consultant in the Nigeria construction market in 2023
A few of the leading contractors in the Nigeria construction market are:
- China Railway Construction Corporation Group
- Julius Berger Nigeria Plc
- Haliburg Group
- Chagoury Group
- Daewoo Engineering & Construction Co Ltd
Nigeria Construction Market Analysis by Contractors, 2023 (%)
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A few of the leading consultants in the Nigeria construction market are:
- Dar Al-Handasah Consultants Shair and Partners Holdings Ltd (Dar Group)
- AECOM
- Worley Ltd
- Arcadis NV
- KBR Inc
Nigeria Construction Market Analysis by Consultants, 2023 (%)
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Nigeria Construction Market - Latest Developments
- In February 2024, the Nigerian government, and African Export-Import Bank (Afreximbank) signed a memorandum of understanding for the development of health sector infrastructure in the country.
- In January 2024, the government announced that the construction work on the fourth Mainland Bridge will start by the first half of 2024. This project will include three toll gates, nine interchanges, and the 5 km Lagoon bridge connecting Lagos Island to the mainland.
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Segments Covered in the Report
Nigeria Construction Sectors Outlook (Value, $ Billion, 2019-2028)
- Commercial Construction
- Industrial Construction
- Infrastructure Construction
- Energy and Utilities Construction
- Institutional Construction
- Residential Construction
Scope
This report provides:
- A comprehensive analysis of the construction industry in Nigeria.
- Historical and forecast 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
Figures
Frequently asked questions
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What was the Nigeria construction market size in 2023?
The construction market size in Nigeria was $136.6 billion in 2023.
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What will the Nigeria construction market growth rate be during the forecast period?
The construction market in Nigeria will grow at an AAGR of 3% during 2025-2028.
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Which was the leading sector in the Nigeria construction market in 2023?
Infrastructure construction was the leading sector in the Nigeria construction market in 2023.
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Which are the leading contractors in the Nigeria construction market?
A few of the leading contractors in the Nigeria construction market are China Railway Construction Corporation Group, Julius Berger Nigeria Plc, Haliburg Group, Chagoury Group, and Daewoo Engineering & Construction Co Ltd among others.
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Who are the leading consultants in the Nigeria construction market?
A few of the leading consultants in the Nigeria construction market are Dar Al-Handasah Consultants Shair and Partners Holdings Ltd (Dar Group), AECOM, Worley Ltd, Arcadis NV, and KBR Inc.
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