NEWS
Construction Industry : Nigeria The construction industry in Nigeria is rapidly changing due to investments from foreign countries like China, USA for the infrastructure and construction sectors. Nigeria is one of the biggest economics of Africa. China has helped to rebuild rail lines, roads and bridges in Nigeria. Also China has offered $60 billion for the development across Africa. The prominent infrastructure projects in Nigeria are Lekki Free Trade Zone, Lagos, Abuja Centenary City, Abuja World Trade Centre, Eko Atlantic City , Lagos etc. The foreign direct investment is boosting the Nigerian construction industry. Furthermore, easy availability of raw materials and the cost of labour and work force in Nigeria is much less, which are other factors to drive construction market within the country. According to world Bank data, Nigeria accounts for about half of west Africa’s population with approximately 195 million people and one of the largest populations of youth in the world. The graph of population in Nigeria is an upward trajectory which is growing day by day. Due to growing
January - March 2020
population, the need for residential spaces would be increased resulting into the growth of construction. The commercial building sector in Nigeria is expected to witness enormous growth across the world over the forecast period. This growth is attributed to the increased construction of commercial complexes and hospitality buildings within the country. Also the growing urbanisation will rapidly expand the housing demand. Green buildings are environmental friendly negative impact on natural resources and environment during the design, construction and operation process of building. In Nigeria is construction industry, green building development is practised at slow pace due to insufficient resources, slow adoption, scarcity of infrastructure and inefficient energy. The African construction equipment market is changes rapidly and has huge potential growth. According to Global Construction Perfective Nigeria is a huge market for building and construction industry.
9 | Architecture & Interiors International Panorama
