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Growing demand for the construction material due to the large infrastructure, Housing and growing real estate in the country like Cement, PVC pipes and steel manufacturing.
Growing demand for the construction material due to the large infrastructure, Housing and growing real estate in the country like Cement, PVC pipes and steel manufacturing.
Nigeria's construction industry is experiencing a monumental surge, fueled by rapid urbanization and government investments. According to the World Bank, Nigeria's urban population is projected to reach over 230 million by 2050. This translates to a massive demand for building materials, with the market size expected to boom.
This data paints a clear picture: a booming construction sector hungry for materials. IPR zones offer investors a strategic launchpad to capitalize on this opportunity. With their proximity to major cities, tax breaks, and streamlined regulations, these zones create a fertile ground for construction material businesses. Investors can cater to specific needs, like domestically produced cement (Nigeria currently relies heavily on imports) or efficient ready-mix concrete production within IPR zones. By addressing challenges like competition and workforce training, investors can become key players in fulfilling Nigeria's construction material needs and contributing to the nation's infrastructural development
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