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Nigeria Infrastructure Report Q2 2016

Nigeria Infrastructure Report Q2 2016

BMI View: We have marginally downgraded our short-term outlook for the Nigerian construction sector ascontinued uncertainty over the direction of the naira, monetary policy and oil prices sees private sectorprojects remain on hold. Infrastructure on the other hand will largely continue to see buoyant growth on theback of a expansionary 2016 federal budget, although power sector projects will be subject to similarheadwinds as we are seeing in the residential and non-residential building sector.

Latest Updates And Structural Trends

We marginally lowered our overall construction industry outlook for 2016 and 2017 forecasts to 7% and10% y-o-y real growth respectively, largely due to the residential and non-residential sectorunderperforming. Over the long-term, Nigeria retains strong infrastructure fundamentals and over our 10-year forecast period we forecast average annual real growth of 10.2%.

We expect the transport sector to outperform, given heavy Chinese involvement in financing and buildingmajor projects as well as a large focus on capital investment in the 2016 federal budget - increasing over200% y-o-y.

The residential and non-residential building sector has been hardest hit by the economic turmoil and in2016 we forecast real growth of just 6.5% y-o-y - a notable slowdown after years of double-digit growth.


BMI Industry View
Latest Updates And Structural Trends
Table: Infrastructure - Construction Industry Forecasts (Nigeria 2016-2022)
Table: Infrastructure Risk Reward Index (Nigeria)
SWOT
Infrastructure SWOT
Industry Forecast
Construction and Infrastructure Forecast Scenario
Table: Construction And Infrastructure Industry Data (Nigeria 2015-2025)
Transport Infrastructure - Outlook And Overview
Industry Forecast Scenario
Table: Transport Infrastructure Industry Data (Nigeria 2015-2025)
Transport Infrastructure Outlook And Overview
Table: KEY PROJECTS: Transport
Energy And Utilities Infrastructure - Outlook and Overview
Industry Forecast Scenario
Table: Energy And Utilities Infrastructure Data (Nigeria 2015-2025)
Table: Major Projects - Energy and Utilities
Residential/Non-Residential Building - Outlook And Overview
Industry Forecast Scenario
Table: Residential and Non-Residential Building Industry Data (Nigeria 2015-2025)
Residential/Non-Residential Building Outlook And Overview
Table: Key Projects: Construction And Social Infrastructure
Industry Risk Reward Ratings
Nigeria - Infrastructure Risk/Reward Index
Rewards
Risks
Sub-Saharan Africa Risk/Reward Index - Stabilisation, But Tough Year In 2016
Table: Sub-Saharan Africa - Infrastructure Risk/Reward Index, Q216
Market Overview
Competitive Landscape
Table: Equities
Company Profile
Julius Berger Nigeria Plc.
Setraco Nigeria Limited
Methodology
Industry Forecast Methodology
Sector-Specific Methodology
Risk/Reward Index Methodology
Sector-Specific Methodology
Table: Infrastructure Risk/Reward Index Indicators
Table: Weighting Of Indicators

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