Taking the Nigeria’s Infrastructure & Construction Industry Forward
Construction & Infrastructure
• According to the latest 10-year forecast from Global Construction Perspectives & Oxford Economics, Construction growth in Nigeria will be the fastest of all markets
| • The new study says China will overtake the US as the world’s biggest construction market by 2018, but that the fastest growth will happen in Nigeria • The report, which named Nigeria “global hotspot from here to 2020” says the nation’s construction growth is even faster than India’s |
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• It stated that from 2009 to 2020, only Nigeria & India will enjoy higher growth rates than China in their construction output • There has been significant growth in the sector with some projections anticipating average expansion by 15% to 17% by 2012 • This would make the construction industry worth more than $60 billion • Infrastructure is the hottest sector to be in & that “it is set to grow in emerging markets by a staggering 128 per cent from now to 2020 |
Railway
| • Nigeria has one of the most extensive national rail networks in Africa, second only to South Africa in length • Rail lines run to the northwest, northeast, southwest & southeast of the country • The construction on the Abuja-Kaduna railway – estimated cost of the project is US$875mn, making it the largest transport infrastructure project under construction in Nigeria |
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Air Transport
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• Nigeria’s air transport market tripled in size in the last few years & this growth was driven almost entirely by a dramatic expansion in the domestic air transport market • Among its Sub-Saharan peers, the size of Nigeria’s market is second only to South Africa |
Power
| • Nigeria has achieved relatively high rates of electrification, particularly in urban areas, & access is expanding rapidly • Power coverage in urban areas, at 89 percent, is well ahead of the resource rich peer group, and on par with Africa’s middle-income countries • Rural electrification, at almost 45 percent, represents strong performance |
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Communication
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• Over the past decade, some $16 billion has been invested in projects related to mobile services in Nigeria
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Roads
| • Nigeria has developed an extensive national road network in the last few years • Both paved & unpaved road network densities are more than twice as high as those for the peer group of resource-rich African countries |
Ports
• Nigerian Ports Authority (NPA) has been extensively restructured & decentralized into four new autonomous port authorities: Lagos, Calabar, Port Harcourt & Delta
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