Nigeria Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q2 2025)
Description
Nigeria Construction Market Size, Trends, and Forecasts by Sector - Commercial, Industrial, Infrastructure, Energy and Utilities, Institutional and Residential Market Analysis to 2029 (Q2 2025)
Summary
The Nigerian construction industry is expected to grow by 3.1% in real terms in 2025, supported by a rise in construction loans, and the government’s investment in oil and gas and infrastructure projects. According to the Central Bank of Nigeria (CBN), the annual average total credit to the construction industry grew 5% year-on-year (YoY) at the end of April 2025, reaching NGN2.4 trillion ($1.3 billion), compared to NGN2.2 trillion ($1.2 billion) at the end of April 2024; preceded by annual growth of 61.4% in 2024. Similarly, the total credit to the Downstream Natural Gas and Crude Oil Refining industry grew by 8% YoY over the same period. The construction industry growth in 2025 will also be supported by the Nigerian President plans to increase the budget expenditure for 2025 from NGN49.7 trillion ($33.1 billion), which was initially presented to the National Assembly in December 2024, to NGN54.2 trillion ($36.1 billion). In terms of oil and gas investments, in February 2025, the government revealed that it plans to boost its oil production capacity from 1.75 million bpd as of February 2025 to 2.75 million bpd by December 2026.
Over the remainder of the forecast period, the Nigerian construction industry is expected to register an average annual growth of 3.2% from 2026 to 2029, supported by investments in the agriculture industry, oil and gas, and energy sectors, coupled with the government’s target of achieving carbon neutrality by 2060 under its Energy Transition Plan (ETP). In April 2025, the African Development Bank Group (AfDB), a Côte d’Ivoire-based private banking company, launched the NGN970.1 billion ($538 million) Special Agro-Industrial Processing Zones (SAPZ) program, which is spanning eight states - Kaduna, Kano, Kwara, Cross River, Imo, Ogun, Oyo, and the Federal Capital Territory.
GlobalData’s Construction in Nigeria - Key Trends and Opportunities to 2029 (Q2 2025) report provides detailed market analysis, information, and insights into the Nigerian construction industry, including -
This report provides a comprehensive analysis of the construction industry in Nigeria. It provides -
Summary
The Nigerian construction industry is expected to grow by 3.1% in real terms in 2025, supported by a rise in construction loans, and the government’s investment in oil and gas and infrastructure projects. According to the Central Bank of Nigeria (CBN), the annual average total credit to the construction industry grew 5% year-on-year (YoY) at the end of April 2025, reaching NGN2.4 trillion ($1.3 billion), compared to NGN2.2 trillion ($1.2 billion) at the end of April 2024; preceded by annual growth of 61.4% in 2024. Similarly, the total credit to the Downstream Natural Gas and Crude Oil Refining industry grew by 8% YoY over the same period. The construction industry growth in 2025 will also be supported by the Nigerian President plans to increase the budget expenditure for 2025 from NGN49.7 trillion ($33.1 billion), which was initially presented to the National Assembly in December 2024, to NGN54.2 trillion ($36.1 billion). In terms of oil and gas investments, in February 2025, the government revealed that it plans to boost its oil production capacity from 1.75 million bpd as of February 2025 to 2.75 million bpd by December 2026.
Over the remainder of the forecast period, the Nigerian construction industry is expected to register an average annual growth of 3.2% from 2026 to 2029, supported by investments in the agriculture industry, oil and gas, and energy sectors, coupled with the government’s target of achieving carbon neutrality by 2060 under its Energy Transition Plan (ETP). In April 2025, the African Development Bank Group (AfDB), a Côte d’Ivoire-based private banking company, launched the NGN970.1 billion ($538 million) Special Agro-Industrial Processing Zones (SAPZ) program, which is spanning eight states - Kaduna, Kano, Kwara, Cross River, Imo, Ogun, Oyo, and the Federal Capital Territory.
GlobalData’s Construction in Nigeria - Key Trends and Opportunities to 2029 (Q2 2025) 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.
This report provides a comprehensive analysis of the construction industry in Nigeria. It provides -
- Historical (2020-2024) and forecast (2025-2029) 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
- Identify and evaluate market opportunities using our 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 business strategies using GlobalData's critical and actionable insight
- Assess business risks, including cost, regulatory and competitive pressures
- Evaluate competitive risk and success factors
Table of Contents
46 Pages
- 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), 2020–29
- Table 4: Nigeria, Top Commercial Construction Projects by Value
- Table 5: Nigeria, Industrial Construction Output by Project Type (Real % Change), 2020–29
- Table 6: Nigeria, Top Industrial Construction Projects by Value
- Table 7: Nigeria, Infrastructure Construction Output by Project Type (Real % Change), 2020-29
- Table 8: Nigeria, Top Infrastructure Construction Projects by Value
- Table 9: Nigeria, Energy and Utilities Construction Output by Project Type (Real % Change), 2020-29
- Table 10: Nigeria, Top Energy and Utilities Construction Projects by Value
- Table 11: Nigeria, Institutional Construction Output by Project Type (Real % Change), 2020-29
- Table 12: Nigeria, Top Institutional Construction Projects by Value
- Table 13: Nigeria, Residential Construction Output by Project Type (Real % Change), 2020-29
- 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), 2023–29
- Figure 2: Nigeria, Construction Output by Sector (Real % Change), 2023–25 and 2026–29
- Figure 3: Nigeria, Risk Summary
- Figure 4: Nigeria, Risk Regional Comparison
- Figure 5: Nigeria, Construction Output Value (Real, $ Million, 2022 Prices and Exchange Rate), 2020–29
- Figure 6: Nigeria, Construction Output Value, by Sector (Real, $ Million), 2020–29
- Figure 7: Nigeria, Credit to the Construction Industry (NGN Billion)
- Figure 8: Nigeria, Total oil Exports (NGN Billion)
- Figure 9: Nigeria, Construction Projects Momentum Index
- Figure 10: Sub-Saharan Africa, Construction Projects Momentum Index
- Figure 11: Nigeria, Commercial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 12: Nigeria, Commercial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 13: Nigeria, Industrial Construction Output by Project Type (Real, $ Million), 2020–29
- Figure 14: Nigeria, Industrial Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 15: Nigeria, Credit to the Manufacturing Industry (NGN Billion)
- Figure 16: Nigeria, Total Export Value (NGN Billion)
- Figure 17: Nigeria, Infrastructure Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 18: Nigeria, Infrastructure Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 19: Nigeria, Credit to the Transport and Storage Industry (NGN Billion)
- Figure 20: Nigeria, Energy and Utilities Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 21: Nigeria, Energy and Utilities Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 22: Nigeria, Credit to the Oil and Gas Industry (NGN Billion)
- Figure 23: Nigeria, Institutional Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 24: Nigeria, Institutional Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 25: Nigeria, Residential Construction Output by Project Type (Real, $ Million), 2020-29
- Figure 26: Nigeria, Residential Construction Projects Pipeline, Value by Stage ($ Million)
- Figure 27: Nigeria, Credit to the Real Estate Industry (NGN Billion)
- Figure 28: Nigeria, Headquarters of Key Contractors (% of Total Project Pipeline)
- Figure 29: Nigeria, Headquarters of Key Consultants (% of Total Project Pipeline)
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