Now Available: Nigeria Infrastructure Report Q4 2015

The outlook for Nigeria's construction sector over 2015 and 2016 remains downbeat on the back of the fall in global oil prices ; and lower government revenue, devaluation of the naira and associated inflationary pressures will restrict public and private investment in projects. T he peaceful Nigerian election s offer opportunit ies for investors , but President Buhari needs to introduce reforms and tackl e corruption to capitalise on it. Chinese funding will shield some major projects, keeping growth in the sector elevated.

Our forecasts are 11% and 9.80% for 2015 and 2016 respectively, with growth averaging 10.6% over our 10-year forecast period to 2024.

The best case election scenario has played out following a peaceful transition of power from incumbent Goodluck Jonathan and the victor in March's election PresidentMuhammadu Buhari. While this may give a slight boost to the economy, given previous downside risk not materialising, we remain downbeat on 2015 and 2016 in terms of growth in the construction sector.

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A fall in oil prices will be the major drag on growth. The naira has depreciated, interest rates have been hiked and importantly government revenues will be lower than expected. Combined, public and private investment in the sector will be lower over 2015 and 2016.

Over the long-term however, we expect Buhari to attempt to deal with the corruption which plague's Nigeria's infrastructure, power and oil and gas sectors; as well as continue the reforms and development plans implemented under Goodluck Jonathan. We also expect the major projects will continue to be supported by Chinese financiers and companies.

The Nigeria Infrastructure Report features BMI Research's market assessment and forecasts covering public procurement and spending on all major infrastructure and construction projects, including transportation and logistics by land, sea and air; power plants and utilities, and commercial construction and property development. The report analyses the impact of regulatory changes and the macroeconomic outlook and features competitive intelligence on contractors and suppliers.

BMI's Nigeria Infrastructure Report provides industry professionals and strategists, sector analysts, investors, trade associations and regulatory bodies with independent forecasts and competitive intelligence on the Nigerian infrastructure and construction industry.

Key Benefits

* Benchmark BMI's independent infrastructure industry forecasts for Nigeria to test other views - a key input for successful budgetary and planning in the Nigerian infrastructure market.
* Target business opportunities and risks in the Nigerian infrastructure sector through our reviews of latest industry trends, regulatory changes and major deals, projects and investments in Nigeria.
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