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Construction In Nigeria ‘to Become World’s Fastest Growing’ - Politics - Nairaland

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Construction In Nigeria ‘to Become World’s Fastest Growing’ by ladi02(m): 10:47am On Nov 13, 2009
Construction growth in Nigeria will be the fastest of all markets, according to the latest 10-year forecast from Global Construction Perspectives and Oxford Economics.

The new study says China will overtake the US as the world’s biggest construction market by 2018, but that the fastest growth will happen in Nigeria.

The survey said infrastructure is the hottest sector to be in and that "it is set to grow in emerging markets by a staggering 128 per cent from now to 2020, compared with just 18 percent over the same period in developed countries”.
The report, which named Nigeria “global hotspot from here to 2020” says the nation's construction growth is even faster than India's, reflecting increased wealth and urbanisation resulting from the country’s oil production.

"Its population of approximately 154 million is urbanising at one of the fastest rates in the world, but construction is now only 3.2 percent of GDP," it said.
It stated that from 2009 to 2020, only Nigeria and India will enjoy higher growth rates than China in their construction output, but that despite India’s continued construction boom, China’s market will still be between three and four times bigger by 2020.
It says in just ten years, China’s already massive construction market will be worth almost US$2.4 trillion, nearly 20 per cent of global construction output.

http://www.thisdayonline.com/nview.php?id=159694

I see  Nigeria becoming like South Africa very soon cheesy

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