Nigeria Construction Industry Databook 2025 | Robust Construction Growth Forecast in Nigeria: Market to Expand to NGN 35.38 Trillion by 2029 - ResearchAndMarkets.com

The "Nigeria Construction Industry Databook Series - Market Size & Forecast by Value and Volume, Q1 2025 Update" has been added to ResearchAndMarkets.com's offering.

The construction industry in Nigeria is on a significant growth trajectory, with an expected annual increase of 8%, reaching NGN 25.72 trillion by 2025. The industry has thrived with a CAGR of 12.1% between 2020-2024 and is projected to continue its ascent at a CAGR of 6.4% from 2025-2029, culminating in an estimated value of NGN 35.38 trillion by the end of 2029.

This report presents an in-depth, data-driven analysis of Nigeria’s construction sector, highlighting opportunities in building and infrastructure markets. Featuring over 100+ KPIs on growth dynamics, construction costs, and a detailed examination of key Nigerian cities, this research is crucial for stakeholders aiming for a comprehensive sectoral understanding.

Key Insights

Residential Construction:

Nigeria's residential sector offers substantial investment opportunities, spurred by a housing shortage and government initiatives, particularly in affordable housing. Despite economic and regulatory hurdles, leveraging tax incentives, innovative methods, and public-private partnerships (PPPs) can ensure long-term growth.

• Macroeconomic Factors: Rising costs in materials, inflation, urbanization, and the demand for affordable housing drive developers towards cost-effective construction methods. Challenges include bureaucratic hurdles and high financing costs.
• Project Landscape: Initiatives like the Family Homes Fund are pivotal. Public-private cooperation enhances sector growth, supported by substantial governmental capital allocations.

Commercial Construction:

The booming urbanization and consumer market increase demand in retail, mixed-use properties, and office spaces, presenting expansive growth potential despite inflationary pressures and regulatory complexities.

• Macroeconomic Factors: Inflation, urban demand, and economic uncertainties affect commercial construction. Developers focus on strategic financing and sustainable practices.
• Project Landscape: Eko Atlantic City and other major developments highlight sector vibrancy. The government's infrastructure improvements and incentives remain supportive, despite fiscal challenges.

Institutional Construction:

Opportunities abound in the education and healthcare sectors, with a focus on modernizing facilities despite funding constraints. Emphasizing sustainable building practices and digital integration is key.

• Macroeconomic Factors: Despite investment in public infrastructure, inflation and bureaucratic challenges affect project timelines. The government prioritizes education and healthcare expansions to improve access and quality.
• Project Landscape: Significant projects like the National Cancer Center work closely with PPPs to complete essential infrastructure.

Industrial Construction:

Nigeria's industrial development benefits from supportive policies, investment incentives, and nearshoring trends. Overcoming regulatory and infrastructural barriers will be crucial.

• Macroeconomic Factors: Supply chain disruptions and rising costs challenge the sector. Industrial parks and manufacturing expansions are prioritized to drive economic growth.

Infrastructure Construction:

Government-backed projects offer stability, with a focus on transportation and energy infrastructure. Streamlining regulations and enhancing PPP frameworks is essential for success.

• Macroeconomic Factors: Material costs and currency volatility pose challenges, while transportation and energy projects dominate infrastructure growth.

The report highlights a range of construction segments with detailed forecasts and analysis, empowering stakeholders to make informed, strategic decisions.

Report Scope

This report provides market size and forecast across 40+ construction segments for ten years from 2020 - 2029 in Nigeria.

KPIs covered include the following:

• Market size by value
• Market size by volume of construction
• Number of units

Market Data and Insights:

• Nigeria Economic Indicators
• Nigeria Top Cities Construction Data
• Nigeria Residential Building Construction Coverage
• Nigeria Residential Green Building Construction Coverage
• Nigeria Commercial Building Construction Coverage
• Nigeria Commercial Green Building Construction Coverage
• Nigeria Industrial Green Building Construction Coverage
• Nigeria Institutional Building Construction Coverage
• Nigeria Institutional Green Building Construction Coverage
• Nigeria Infrastructure Construction Sectors
• Nigeria Green Infrastructure Construction
• Nigeria Construction Cost Structure Analysis

Reasons to buy

• Comprehensive Insight into Construction Market Dynamics: Gain a deep understanding of the construction market, including opportunities, industry trends, and key drivers across over 40+ market segments and sub-segments.
• Detailed Analysis of Construction Costs: Explore construction costs broken down by type, including material and labor costs. The report provides detailed information on costs by construction type and worker.
• Top Ten Cities Construction Value: Access valuable data on the construction market size for major cities, focusing on key city-level sectors.
• In-Depth Volume and Value Data: Obtain a thorough understanding of the market from both value and volume perspectives, covering historical data and forecasts by activity and units.
• Strategic Market-Specific Insights: Formulate targeted strategies by identifying growth segments and opportunities and assessing key trends, drivers, and risks within the construction industry.
• City-Level Trend Analysis: Get detailed trend analyses for tier-1, tier-2, and tier-3 cities, offering actionable insights for urban-focused strategies.

For more information about this report visit https://www.researchandmarkets.com/r/11eooh

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View source version on businesswire.com: https://www.businesswire.com/news/home/20250428646036/en/