The Nigerian construction market continues to recover as the impact of the pandemic recedes, offering a promising opportunity for the equipment dealers operating across the country
The Nigerian construction market is expected to grow by 3.2% annually between 2021 and 2025. (Image source: Mantrac Nigeria)
Nigeria, like most countries across the globe, was hit hard by the pandemic with GDP contracting by an estimated 1.7% in 2020. However, the rebound was swift and the country consistently sustained positive growth across 2021 with the latest figures released by the Nigerian National Bureau of Statistics indicating that GDP grew by 4.03% year-on-year in Q3 2021.
Construction projects and increasing private investment is only fuelling the market more and this is creating favourable conditions for equipment dealers operating in the country.
Find more on this, including the thoughts on Mohamed Ibrahim, general manager, Machines at Mantrac Nigeria, in the latest issue of African Review here.