Nigeria Construction Market Size, Trend Analysis by Sector, Competitive Landscape and Forecast to 2027

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Nigeria Construction Market Report Overview

The Nigeria construction market size was valued at $135.9 billion in 2022. The market is projected to achieve an AAGR of 2% during 2024-2027. The growth is attributed to the rise in investments in oil and gas, electricity, transport, industrial, health, and education infrastructure projects.

Nigeria Construction Market Outlook, 2022-2027 ($ Billion)

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The Nigeria construction market research report offers a comprehensive understanding of project types and construction activities in the country. It analyzes the mega-project pipeline, focusing on development stages, participants, and listings of major projects in the pipeline. The market report further discusses the key sectors in the construction market and their growth drivers. Along with reviewing the details of the construction projects, our analysts have elaborated on emerging trends and assessed key risks and opportunities that will influence Nigeria construction market growth in the coming years.

Market Size (2022) $135.9 Billion
AAGR (2024-2027) 2%
Forecast Period 2023-2027
Historical Period 2018-2022
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

·        Daewoo Engineering & Construction Co Ltd

·        Chiyoda Corp

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 2022

The key sectors in the Nigeria construction market are commercial construction, industrial construction, infrastructure construction, energy and utilities construction, institutional construction, and residential construction. In 2022, the infrastructure construction sector was followed by energy and utilities construction.

Infrastructure construction: The project types in this sector include rail infrastructure, road infrastructure, and other infrastructure projects. The investments in the road, rail, and port infrastructure projects will drive market growth in the coming years.

Residential construction: The project types in this sector include single-family housing and multi-family housing. The residential construction industry will recover over the forecast period owing to the rise in investments in housing projects to address the country’s housing deficit.

Energy and utilities construction: The project types in this sector include electricity and power, oil and gas, telecommunications, sewage infrastructure, and water infrastructure. The increase in investments in oil and gas, renewable energy, and telecommunications infrastructure projects will drive the sector growth between 2024 and 2027.

Commercial construction: The project types in this sector include leisure and hospitality buildings, office buildings, outdoor leisure facilities, retail buildings, and other commercial construction. Factors such as the heavy investment in leisure and hospitality, retail, office, and data center buildings will drive the commercial sector’s growth over the forecast period.

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. A rebound in manufacturing activities, coupled with an increase in investments in the electric vehicle (EV) manufacturing sector, will drive the sector’s growth during the forecast period.

Institutional construction: The project types in this sector include educational buildings, healthcare buildings, institutional buildings, research facilities, and religious buildings. Factors such as the government’s ongoing efforts to develop and expand the country’s educational infrastructure and an increase in investment in healthcare infrastructure will fuel the growth of this sector in the coming years.

Nigeria Construction Market Analysis by Sectors, 2022 (%)

Nigeria Construction Market Analysis by Sectors, 2022 (%)

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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 2022

A few of the leading contractors in the Nigeria construction market are:

  • China Railway Construction Corporation Group
  • Julius Berger Nigeria Plc
  • Haliburg Group
  • Daewoo Engineering & Construction Co Ltd
  • Chiyoda Corp

Foreign contractors account for most of the project pipeline in the Nigeria construction market. Firms based in China are the dominant contractors.

Nigeria Construction Market Analysis by Contractors, 2022 (%)

Nigeria Construction Market Analysis by Contractors, 2022 (%)

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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

Consultants with headquarters outside Nigeria are involved in most of the project pipeline by value.

Nigeria Construction Market Analysis by Consultants, 2022 (%)

Nigeria Construction Market Analysis by Consultants, 2022 (%)

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Nigeria Construction Market - Latest Developments

  • In late September 2023, Nigeria’s state oil firm Nigerian National Petroleum Corporation (NNPC), and oil majors agreed to shorten the time taken for concluding contract talks. To accelerate projects in the oil and gas sector the time has been reduced from three years to six months.
  • In September 2023, President Tinubu reported that international oil firms have committed to invest heavily over the next 12 months, to lift oil production.

Segments Covered in the Report

Nigeria Construction Sectors Outlook (Value, $ Billion, 2018-2027)

  • 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 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

  • 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. Risk Profile

  • 4. Construction Outlook

    • 4.1. All Construction

      • 4.1.1. Outlook
      • 4.1.2. Latest news and developments
      • 4.1.3. Construction Projects Momentum Index

    • 4.2. Commercial Construction

      • 4.2.1. Outlook
      • 4.2.2. Project analytics
      • 4.2.3. Latest news and developments

    • 4.3. Industrial Construction

      • 4.3.1. Outlook
      • 4.3.2. Project analytics
      • 4.3.3. Latest news and developments

    • 4.4. Infrastructure Construction

      • 4.4.1. Outlook
      • 4.4.2. Project analytics
      • 4.4.3. Latest news and developments

    • 4.5. Energy and Utilities Construction

      • 4.5.1. Outlook
      • 4.5.2. Project analytics
      • 4.5.3. Latest news and developments

    • 4.6. Institutional Construction

      • 4.6.1. Outlook
      • 4.6.2. Project analytics
      • 4.6.3. Latest news and developments

    • 4.7. Residential Construction

      • 4.7.1. Outlook
      • 4.7.2. Project analytics
      • 4.7.3. 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

  • 8. About GlobalData
  • 9. Contact Us

Table

Table 1: Construction Industry Key Data

Table 2: Nigeria, Key Economic Indicators

Table 3: Nigeria, Commercial Construction Output by Project Type (Real % Change), 2018–27

Table 4: Nigeria, Top Commercial Construction Projects by Value

Table 5: Nigeria, Industrial Construction Output by Project Type (Real % Change), 2018–27

Table 6: Nigeria, Top Industrial Construction Projects by Value

Table 7: Nigeria, Infrastructure Construction Output by Project Type (Real % Change), 2018–27

Table 8: Nigeria, Top Infrastructure Construction Projects by Value

Table 9: Nigeria, Energy and Utilities Construction Output by Project Type (Real % Change), 2018–27

Table 10: Nigeria, Top Energy and Utilities Construction Projects by Value

Table 11: Nigeria, Institutional Construction Output by Project Type (Real % Change), 2018–27

Table 12: Nigeria, Top Institutional Construction Projects by Value

Table 13: Nigeria, Residential Construction Output by Project Type (Real % Change), 2018–27

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, $ Million)

Table 18: Nigeria, Construction Output Value (Nominal, NGN Million)

Table 19: GlobalData Construction Market Definitions

Table 20: Risk Dimensions

Table 21: Ratings, Scores and Definitions

Figures

Figure 1: Sub-Saharan Africa, Construction Output (Real % Change), 2021–27

Figure 2: Nigeria, Construction Output by Sector (Real % Change), 2021–23 and 2024–27

Figure 3: Nigeria, Risk Summary

Figure 4: Nigeria, Risk Regional Comparison

Figure 5: Nigeria, Construction Output Value (Real, $ Million, 2017 Prices and Exchange Rate), 2018–27

Figure 6: Nigeria, Construction Output Value, by Sector (Real, $ Million), 2018–27

Figure 7: Nigeria, Construction Value-Add (NGN Million, 2010 Constant Prices)

Figure 8: Nigeria, Construction Projects Momentum Index

Figure 9: Sub-Saharan Africa, Construction Projects Momentum Index

Figure 10: Nigeria, Commercial Construction Output by Project Type (Real, $ Million), 2018–27

Figure 11: Nigeria, Commercial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 12: Nigeria, Accommodation and Food Services Value-Add (NGN Million, 2010 Constant Prices)

Figure 13: Nigeria, Industrial Construction Output by Project Type (Real, $ Million), 2018–27

Figure 14: Nigeria, Industrial Construction Projects Pipeline, Value by Stage ($ Million)

Figure 15: Nigeria, Manufacturing Value-Add (NGN Billion, 2010 Constant Prices)

Figure 16: Nigeria, Total Export Value (NGN Billion)

Figure 17: Nigeria, Infrastructure Construction Output by Project Type (Real, $ Million), 2018–27

Figure 18: Nigeria, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)

Figure 19: Nigeria, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2018–27

Figure 20: Nigeria, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)

Figure 21: Nigeria, Telecommunications and Information Services Value-Add (NGN Billion, 2010 Constant Prices)

Figure 22: Nigeria, Institutional Construction Output by Project Type (Real, $ Million), 2018–27

Figure 23: Nigeria, Institutional Construction Projects Pipeline, Value by Stage ($ Million)

Figure 24: Nigeria, Education Sector Value-Add (NGN Million, 2010 Constant Prices)

Figure 21: Nigeria, Human Health and Social Services Value-Add (NGN Million, 2010 Constant Prices)

Figure 26: Nigeria, Residential Construction Output by Project Type (Real, $ Million), 2018–27

Figure 27: Nigeria, Residential Construction Projects Pipeline, Value by Stage ($ Million)

Figure 28: Nigeria, Real estate Value-Add (NGN Billion, 2010 Constant Prices)

Figure 29: Nigeria, Headquarters of Key Contractors (% of Total Project Pipeline)

Figure 30: Nigeria, Headquarters of Key Consultants (% of Total Project Pipeline)

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