Building & Construction

The country’s rapid rate of urbanization, which stands at ~47%, according to United Nations estimates in 2014, is pushing demand for building and construction materials.

According to Q4:2014 data from the National Bureau of Statistics, the sector contributed ~3.7% to the rebased Nigerian GDP.

Only 18% of the nation’s 197,000 kilometers of Federal roads network which takes 90% of persons across the country is paved/tarred. The durability of the roads is worsened by poor maintenance.

Building materials constitute between 50-75% of the total construction cost in most developmental projects. In October 2014, the Federal Ministry of Industry, Trade and Investment stated that Nigeria spends over ₦500 billion ($3.3 billion) every year to import building items such as roofing sheets, nails, roof tiles, head pans, and gauze wire.