Precious Obogo
The Nigerian construction industry’s growth is expected to grow by 4.3 per cent in 2025, supported by a rise in construction loans, coupled with the government’s investment in housing and transport infrastructure projects.
Moreover, the total credit to the transport and storage sector grew 15.7 per cent Year-On-Year (YoY ) at the end of June 2025, according to the Central Bank of Nigeria (CBN).
Similarly, the total credit to the oil and gas downstream industry and oil and gas upstream industry grew by 3.9 per cent and 2.9 per cent respectively, in YoY terms, over the same period.
The Nigerian construction industry is expected to register an average annual growth of 3.2 per cent from 2026 to 2029, supported by investments in the infrastructure, housing, oil and gas, coupled with the government target of increasing the share of renewable energy in the total electricity mix from 13.5GW in 2021 to 30GW by 2030, according to report by ReserachAndMarkets.com’s.
In mid-August 2025, the Federal government along with Nigerian innovation and investment company De-Sadal Consortium and Chinese investment holding company China Liancai Petroleum Investment Holdings announced the plan to construct a NGN108.2 trillion ($60 billion) 4,000km high-speed rail project in Nigeria. The project will be developed in three phases; of which the Western phase is scheduled to become operational by 2028.
Growth will also be supported by the implementation of new Country Strategy Paper (2025-30) launched in March 2025, that focuses on two main areas: promoting sustainable, climate-smart infrastructure and advancing gender- and youth-inclusive green growth through industrialization.