Nigeria Infrastructure Report - Business Monitor International - Industry Reports

Nigeria Infrastructure Report

Nigeria Infrastructure Report - Business Monitor International - Industry Reports
Nigeria Infrastructure Report
Published Feb 07, 2015
91 pages — Published Feb 07, 2015
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Abstract:

BMI View: While we have downgraded our growth forecasts for ---- and ---- on account of the elections and lower oil prices, in our view Nigeria represents a long-term high reward market. We now forecast real growth of --.-- and -.-- in the construction sector for ---- and ---- respectively, with growth averaging --.- over our ---year forecast period. ...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. ...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.

...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 understood, but rather on high-growth sectors such as manufacturing and services. The outlook for oil prices generally and for West African Bonny Light in particular, has clouded the extent to which the oil sector, which is the main source of fiscal and external account revenues, will provide the government revenues and therefore macroeconomic stability needed to invest in the construction sector. ...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 understood, but rather on high-growth sectors such as manufacturing and services. The outlook for oil prices generally and for West African Bonny Light in particular, has clouded the extent to which the oil sector, which is the main source of fiscal and external account revenues, will provide the government revenues and therefore macroeconomic stability needed to invest in the construction sector. BMI forecasts an average price for Brent over ---- of USD-- per barrel, below the government s budgetary planning of USD--. 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. We expect the non-residential building sector to be an important growth driver.

...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 through the bond market in a bid to tackle the country s housing deficit. We expect legislation under consideration to pave the way for private sector investment into transport infrastructure, making projects like the second bridge over the Niger River, a bellwether PPP, more common. ...

  
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" Feb 07, 2015. Alacra Store. Apr 21, 2015. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Nigeria-Infrastructure-Report-2026-598>
  
APA:
Business Monitor International - Industry Reports. (2015). Nigeria Infrastructure Report Feb 07, 2015. New York, NY: Alacra Store. Retrieved Apr 21, 2015 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Nigeria-Infrastructure-Report-2026-598>
  
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