The construction industry is Nigeria is projected to grow at a compound annual growth rate of 9.49% from 2016 to 2020, propelled by investments in ship and railways, says a report by Timetric.

Titled ‘Construction in Nigeria – Key Trends and Opportunities to 2020‘, the report states that the country’s construction industry stands to benefit from the government’s Vision 2020 programme, which is focussed on developing its ship, rail, road and airport infrastructure.

“The shipyard will be developed by 2019 with a capacity of shipping 2.9 million barrels of crude oil a day.”

As part of the authority’s efforts to establish a world-class infrastructure, the country’s sea-port facilities will be improved and rehabilitated. Nigeria envisions positioning itself as Africa’s maritime operational hub by 2020 and plans to construct the country’s biggest shipyard. To be located in Badagry, the shipyard will be developed by 2019 with a capacity of shipping 2.9 million barrels of crude oil a day.

The Timetric report mentions that the infrastructure development in Nigeria will be executed according to the National Integrated Infrastructure Master Plan (NIIMP) 2043 and a public-private partnership (PPP) will be adopted to seek investments for the development projects.

Other sectors including healthcare, manufacturing plants, education facilities and housing projects will also contribute towards the growth of the country’s construction industry.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.