Nigeria Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028

Nigeria Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis, 2024-2028


Summary

The construction industry in Nigeria is expected to expand by 2.8% in real terms in 2024, supported by the government’s focus on infrastructure development to support economic development, public and private investment in the housing sector, and a strengthening of external demand. In the 2024 Budget, the government allocated NGN10 trillion ($16.8 billion) for capital expenditure. Of which, NGN2.2 trillion ($3.7 billion) was allocated to the education sector and NGN1.3 trillion ($2.2 billion) to the health sector. The government also allocated NGN548.6 billion ($922.2 million) for road construction and NGN99 billion ($166.4 million) towards the development of 20,000 affordable housing in 2024.

Over the remainder of the forecast period, the construction industry is expected to register an annual average growth of 3.1% between 2025 and 2028, supported by investment in electricity, transport, industrial, infrastructure and oil and gas projects, coupled with the government’s plan to produce 5.5 billion cubic feet of gas per day by 2030. The industry’s growth will be also supported by investment as part of the Nigeria Energy Transition Plan, under which the country aims to reduce CO2 emissions to net zero in the power, transport, oil and gas sectors by 2060. As part of this plan, Nigeria aims to develop 197GW of grid-connected solar, about 90GW of energy storage capacity, 34GW of hydrogen power, 11GW of hydropower, 10GW of gas, and 6GW of biomass with an estimated investment of NGN1.1 quadrillion ($1.9 trillion) by 2060.

GlobalData’s Construction in Nigeria – Key Trends and Opportunities to 2028 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 (2019–2023) and forecast (2024–2028) 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.


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
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
7.1 What is this Report About?
7.2 Definitions
7.3 CRI Methodology
8 About GlobalData
9 Contact Us
List of Tables
Table 1: Construction Industry Key Data
Table 2: Nigeria, Key Economic Indicators
Table 3: Nigeria, Commercial Construction Output by Project Type (Real % Change), 2019–28
Table 4: Nigeria, Top Commercial Construction Projects by Value
Table 5: Nigeria, Industrial Construction Output by Project Type (Real % Change), 2019–28
Table 6: Nigeria, Top Industrial Construction Projects by Value
Table 7: Nigeria, Infrastructure Construction Output by Project Type (Real % Change), 2019–28
Table 8: Nigeria, Top Infrastructure Construction Projects by Value
Table 9: Nigeria, Energy and Utilities Construction Output by Project Type (Real % Change), 2019–28
Table 10: Nigeria, Top Energy and Utilities Construction Projects by Value
Table 11: Nigeria, Institutional Construction Output by Project Type (Real % Change), 2019–28
Table 12: Nigeria, Top Institutional Construction Projects by Value
Table 13: Nigeria, Residential Construction Output by Project Type (Real % Change), 2019–28
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 Billion)
Table 19: GlobalData Construction Market Definitions
Table 20: Risk Dimensions
Table 21: Ratings, Scores and Definitions
List of Figures
Figure 1: Sub-Saharan Africa, Construction Output (Real % Change), 2022–28
Figure 2: Nigeria, Construction Output by Sector (Real % Change), 2022–24 and 2025–28
Figure 3: Nigeria, Risk Summary
Figure 4: Nigeria, Risk Regional Comparison
Figure 5: Nigeria, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2019–28
Figure 6: Nigeria, Construction Output Value, by Sector (Real, $ Million), 2019–28
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), 2019–28
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), 2019–28
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), 2019–28
Figure 18: Nigeria, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
Figure 19: Nigeria, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2019–28
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), 2019–28
Figure 23: Nigeria, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
Figure 24: Nigeria, Education Sector Value-Add (NGN Million, 2010 Constant Prices)
Figure 25: Nigeria, Human Health and Social Services Value-Add (NGN Million, 2010 Constant Prices)
Figure 26: Nigeria, Residential Construction Output by Project Type (Real, $ Million), 2019–28
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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