Nigeria Infrastructure Report - Business Monitor International - Industry Reports

Nigeria Infrastructure Report

91 pages — Published May 17, 2014
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Abstract:

Dangote Group sealed a financial agreement with -- banks for a USD-.-bn loan to build a greenfield refinery and petrochemicals complex in Olokola, in the south of Nigeria. The Nigerian housing market looks set to receive a major shot in the arm as the Federal Government launched the Nigeria Mortgage Refinance Company (NMRC), with a mandate to raise capital via the bond market in a bid to tackle the country s housing deficit. ...Dangote Group sealed a financial agreement with -- banks for a USD-.-bn loan to build a greenfield refinery and petrochemicals complex in Olokola, in the south of Nigeria. The Nigerian housing market looks set to receive a major shot in the arm as the Federal Government launched the Nigeria Mortgage Refinance Company (NMRC), with a mandate to raise capital via the bond market in a bid to tackle the country s housing deficit. In October ----, China Civil Engineering Construction Company (CCECC) won a contract to substantially upgrade Nigeria s airport capacity. ...The Petroleum Industry Bill (PIB), if implemented, should bring more regulatory certainty and could unlock billions of dollars in investment in the country s oil & gas industry.

...BMI View: After the rebasing of Nigeria s economy it now represents the largest market in Africa, and relies less on the oil industry for growth than previously understood, but rather on high-growth sectors such as manufacturing and services. As such we have upgraded our long-term forecasts, which now see construction industry real growth averaging -- over our ---year forecast period. ...There has been a chronic lack of investment in the country s infrastructure sectors. However, reforms and development plans implemented under President Goodluck Jonathan are beginning to take effect, with the sell-off of the state-run Power Holding Company of Nigeria virtually complete and increasing numbers of Public Private Partnerships (PPPs) entering the market. We note security risks remain high and political turmoil in the governing party threatens investor confidence over the medium term. ...We note security risks remain high and political turmoil in the governing party threatens investor confidence over the medium term. We also continue to highlight persistent risks hampering the implementation of major projects, ranging from deep-rooted corruption and violence perpetrated by militants to inefficient bureaucracy.

...Given the country s high levels of corruption and bureaucratic inefficiency, many public sector construction projects have stalled or have had to be cancelled. The Nigerian construction industry needs tighter and enforceable building regulations and increased local materials output, especially in local cement capacity - although Dangote is expanding its operations substantially. ...

  
Source:
Document ID
1750-5380
Country
Industry
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Nigeria Infrastructure Report" May 17, 2014. Alacra Store. Jul 23, 2014. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Nigeria-Infrastructure-Report-2026-598>
  
APA:
Business Monitor International - Industry Reports. (2014). Nigeria Infrastructure Report May 17, 2014. New York, NY: Alacra Store. Retrieved Jul 23, 2014 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Nigeria-Infrastructure-Report-2026-598>
  
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