• Hausa Edition
  • Podcast
  • Conferences
  • LeVogue Magazine
  • Business News
  • Print Advert Rates
  • Online Advert Rates
  • Contact Us
Saturday, June 7, 2025
Leadership Newspapers
Read in Hausa
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us
No Result
View All Result
Leadership Newspapers
No Result
View All Result

Investment In Energy Sector To Grow Construction Industry

by Chika Izuora
9 months ago
in Business
investment
Share on WhatsAppShare on FacebookShare on XTelegram

The Nigerian construction industry is expected to register an average annual growth of 3.1 per cent from 2025 to 2028 with the right investment in the nation’s energy sector, according to a new report released by ResearchAndMarkets.com.

Advertisement

The growth trajectory would be supported by investment in electricity, transport, manufacturing, housing, and oil and gas sectors, the report said.

The industry’s growth will be supported by the N7.7 trillion ($9.1 billion) National Development Plan 2021-25, under which, the government sets out multilateral increases in the length of the total paved network, the country’s cargo handling capacity and aviation passenger traffic, and the percentage of road network under scheduled maintenance and repair.

Furthermore, the government aims to diversify total energy consumption towards renewable electricity, from 13 per cent (2015) to 23 per cent (2025) to 36 per cent (2030), under the Renewable Energy Master Plan (REMP).

The growth will also be supported by the “National Automotive Industry Development Plan” (NADIP) 2023-2033, pertaining to a target increase in Nigerian vehicles production, of which 30 per cent will be Electric Vehicles (EVs), generating one million jobs over the ten year-period.

RELATED

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

12 hours ago
2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities

2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities

13 hours ago

Output has been revised down growth in the Nigerian construction industry from 2.8 per cent to 1.2 per cent in real terms, in 2024, owing to headwinds such as socio-political unrest, high inflation, rising interest rates, depreciation of the Nigerian naira, and rising external debt.

The Central Bank of Nigeria (CBN) has raised its monetary policy rate by 150 basis points, from 24.75 per cent in March to 26.25 per cent in May 2024; this is to curb inflation which reached a 28-year high of 33.69 per cent in April 2024, from 33.2 per cent in the month previously.

Furthermore, challenges in the oil sector, such as oil theft and attacks on facilities, pose major downside risks to the industry’s growth in the short term.

Despite these challenges, forecasted growth in 2024 is conducive to the government’s focus to address rising energy prices and slowing economic growth, tackled through an expansive 2024 Budget amassing expenditure of N27.5 trillion ($32.3 billion). Good p

Specifically, the budget includes capital expenditure of N7.7 trillion ($9.1 billion), an allocation of N548.6 billion ($922.2 million) for road construction, and N99 billion ($166.4 million) for housing development.


We’ve got the edge. Get real-time reports, breaking scoops, and exclusive angles delivered straight to your phone. Don’t settle for stale news. Join LEADERSHIP NEWS on WhatsApp for 24/7 updates →

Join Our WhatsApp Channel

START EARNING US DOLLARS as a Nigerian ($35,000) monthly. Companies are sacking their workers due to AI (artificial intelligence), business owners are in panic mode. Only the smart will make it. Click here


SendShareTweetShare
Previous Post

Over 50 Crypto Firms Apply For Licences – SEC

Next Post

Customs Intercepts Petrol, Drugs, Cannabis, Others Worth N1.38bn In 2 Months

Chika Izuora

Chika Izuora

You May Like

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth
Business

Bitget Hosts Blockchain Education Day To Foster Web3 Awareness Growth

2025/06/07
2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities
Business

2025 Budget: Outcry As Agency Appropriates N6bn On Frivolities

2025/06/07
FCCPC To Prosecute PoS Operators Over Service Price Fixing
Business

FCCPC Sets Up Committee For Anti-counterfeit Portal

2025/06/07
Asharami Energy Commits To Local Capacity Devt, Sustainable Growth
Business

Asharami Energy Commits To Local Capacity Devt, Sustainable Growth

2025/06/07
BPP, CIPS Strengthen Partnership On Procurement Practice, Sign MoU
Business

BPP, CIPS Strengthen Partnership On Procurement Practice, Sign MoU

2025/06/07
Centre Partners Niger Delta Varsity On Marine Training
Business

Centre Partners Niger Delta Varsity On Marine Training

2025/06/07
Leadership Conference advertisement

LATEST

Expert Calls For Urgent Action On Neonatal Jaundice In Nigeria

Fuel Subsidy Removal Saved Nigeria From Bankruptcy – NOA

Netizens React To Nigerian Prophet’s ‘Healing’ Of Dumb, Paralysed Man After 36 Years In US

Gov Zulum Donates N100m To Wounded Soldiers, Families Of Slain Troops

LP Mourns Late CJN Uwais, Seeks Implementation Of Report On Electoral Reforms

Tennis: Gauff Beats Sabalenka To Win French Open Title

‘I Never Begged Wike For Money’, TV Anchor Reuben Abati Refutes FCT Minister’s Aide’s Claims

Singer Darey Art Alade, Wife Escape Unhurt After Their Car Catches Fire On 3rd Mainland Bridge

Civil War Was For Unity, Not Hatred — Gowon

Nnamdi Kanu Is Prisoner Of Conscience — IPOB

© 2025 Leadership Media Group - All Rights Reserved.

No Result
View All Result
  • Home
  • News
  • Politics
  • Business
  • Sport
  • Health
  • Entertainment
  • Opinion
    • Editorial
  • Columns
  • Football
  • Others
    • LeVogue Magazine
    • Conferences
    • National Economy
  • Contact Us

© 2025 Leadership Media Group - All Rights Reserved.