Nigeria Infrastructure Report - Business Monitor International - Industry Reports

Nigeria Infrastructure Report

84 pages — Published Sep 06, 2014
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Abstract:

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. This quarter we are maintaining our bullish real growth rates for the construction sector, 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. Over ---- we have seen a large increase in insecurity within Nigeria, especially in the North of the country, and we also expect higher political risk in the run up to the ---- presidential elections. These factors present downside risk to our short-term outlook, but we believe Nigeria s impressive fundamentals will keep growth elevated over our ---year forecast period. 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.

...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. After numerous failures to move the project forward, President Goodluck Jonathan has launched the ground-breaking ceremony on the second Niger Bridge. ...The Nigerian port infrastructure sector look set to grow considerably in future, after comments from the Minister for Transport have highlighted seven potential deep water seaports are in the pipeline. Some plans are already well developed, but others add upside to our buoyant port sector forecasts.

...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
Format:
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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" Sep 06, 2014. Alacra Store. Oct 26, 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 Sep 06, 2014. New York, NY: Alacra Store. Retrieved Oct 26, 2014 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Nigeria-Infrastructure-Report-2026-598>
  
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