Construction Sector Records 13% Growth –NBS

By October 30, 2017 Investment News

Nigeria’s economic recovery process may have begun to impact on the construction industry as the National Bureau Statistics (NBS) reported that the sector recorded a 13 percent growth.

This is even as 12 countries have indicated interest to participate in Nigeria’s first ever building exhibition tagged “Nigeria International BuildExpo”.

For the operators in the sector, this may be a cheery news as they now have more international opportunity to leverage on for the new growth in the sector.

The Project Coordinator, Elan Expo Nigeria/West Africa, and organiser of the trade exhibitions, Mr. Jude Chime stated in Lagos that the new 13 per cent growth as announced by NBS was a good news for the operators in the sector.

Speaking at a press briefing on the forth coming eventg Nigeria International BuildExpo for construction and building materials exhibition in Lagos, Chime said the country by the virtue of the new report is in the league of countries that have big development rate, adding that the government support to sustain the growth was permanent.

The Project Coordinator said, the 13 per cent growth relays on 2020 and 2043 master plans and according to these plans, infrastructure investments, renewable energy, housing projects, production facilities, health and education complexes will be finalised until 2043 and the entire projects will positively affect national construction sector.

According to him, about 72 participants from 12 different countries and 12 top speakers across Africa, state officers, local governments, sector representatives and pioneer business people are expected to grace the building exhibition expo, set to hold on November 2-4, at Landmark centre in Lagos.

He noted that, the BuildExpo will offer effective trade platform for the sector, potential growth for Nigeria year by year and give great opportunity to take part in the growing market.

“Sharing knowledge is the key for development. That is why Elan Expo is bringing all sector together for development with sectoral workshop”, he stressed.

The expo, he added would also expose the local investors to sustainable structural design for civil infrastructure, exploring alternative materials, post conflict reconstruction and planning challenges and opportunities, energy saving and reduction of carbon and much more which will be the main topics of the workshops at the exhibition. He emphasised that, there is need to improve and compare note with international keynote speakers who will be speaking at the expo, as there cannot be any meaningful development in the country without infrastructures.

Source: Sun