How profitable is building materials business in Nigeria?
The construction materials market was reported to be ₦2.1 billion in 2019, and there are expectations that it will record a massive rise to about ₦13 billion by 2024 at CAGR of 16.7%.
Major cities such as Lagos, Kano, Abuja, Port-Harcourt, Kaduna and Benin City are expected to contribute the most to the rapid growth..
What are the factors affecting the cost of building materials in Nigeria?
The three most rated factors responsible for the rising cost of building materials are the exchange rate of the Nigeria Naira with a Mean Rated Average (MRA) = 4.4; cost of fuel and power supply, MRA = 4.3; and changes in government policies and legislation, MRA = 4.2, while fluctuations in the construction cost with .
What are the local materials in Nigeria?
In Nigeria, with the abundance of basic building materials such as clay, laterite, stone, lime, agro-industrial waste, wood/timber, granite, various types of sand (including glass sand) in their natural state, the contribution of this sector to the GDP is expected to be high and significant..
What building materials are imported in Nigeria?
Building materials such as windows, doors, ceramics, tiles, sanitary and plumbing appliances, have been imported into Nigeria over the years (Oruwari, Jev, & Owei, 2002; Ugochukwu, Obinna, & Ezeokoli, 2014) ..
- Some of the cost-effective materials like Flyash Bricks, Robo sand, Basalt Rebar, UPVC windows and Vitrified tiles are used in this research to reduce the costs and results in the eco-friendly project.
This paper compares the costs of conventional and alternative materials used for buildings. - The construction materials market was reported to be ₦2.1 billion in 2019, and there are expectations that it will record a massive rise to about ₦13 billion by 2024 at CAGR of 16.7%.
Major cities such as Lagos, Kano, Abuja, Port-Harcourt, Kaduna and Benin City are expected to contribute the most to the rapid growth. - The three most rated factors responsible for the rising cost of building materials are the exchange rate of the Nigeria Naira with a Mean Rated Average (MRA) = 4.4; cost of fuel and power supply, MRA = 4.3; and changes in government policies and legislation, MRA = 4.2, while fluctuations in the construction cost with
