Nigeria Infrastructure Report Q2 2015 - New Market Research Report

While we have downgraded our growth forecasts for 2015 and 2016 on account of the elections and lower oil prices, i n our view Nigeria represents a long-term high reward market . We now forecast real growth of 11. 0 4% and 9.8 0 % in the construction sector for 2015 and 2016 respect i vely, with growth averaging 10.6% over our 10-year forecast period . Improving power supply and transport links will be a driver of growth, but the infrastructure sector is more exposed to the numerous risks in Nigeria's business environment.

This quarter we are highlighting the elevated risks in the Nigerian market. Elections in February are likely to be contentious, violent and drawn out. A fall in oil prices and its affect of government revenues and the naira will stymie investment. Militant group Boko Haram have also been increasingly active and criticism of the government for failing to deal with the issue has sharpened.

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These factors present downside risk to our short-term outlook, but we believe Nigeria's impressive fundamentals will keep growth elevated over our 10-year forecast period. Reforms and development plans implemented under President Goodluck Jonathan, although slow to get off the ground. are beginning to attract the investment the sector needs. The sell-off of state-run Power Holding Company of Nigeria is almost complete and increasing numbers of transport Public Private Partnerships (PPPs) are emerging.

The potential of Nigeria's infrastructure market has long been known, however a chronic lack of investment and the laborious business environment has limited its growth prospects. We highlight persistent risks hampering the implementation of major projects, ranging from deep-rooted corruption and violence perpetrated by militants to inefficient bureaucracy.

Key Trends And Developments

* After the rebasing of Nigeria's economy it represents the largest market in Africa, and relies less on the oil industry for growth than previously...

The Nigeria Infrastructure Report features Business Monitor International (BMI)'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

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