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After a strong performance in 2012, Business Monitor has revised its forecast for the Nigeria
Investment continues to flow into the Nigerian construction sector. This is reflected in the recently announced 6.5% GDP growth over 2012, the political agenda of economic reforms, and the continued unbundling and privatisation of the state-run Power Holding Company of Nigeria. In line with Business Monitor’s forecasts, Nigeria continues to see strong growth within its construction sector and they anticipate annual average real growth of 9.2% between 2013 and 2017. The report shows that after a strong performance in 2012, Business Monitor have revised their forecast for the construction industry upwards. However, they also continue to highlight the persistent risks hampering the implementation of major projects, ranging from deep-rooted corruption, violence perpetrated by militant Islamists and retaliatory forces, and a vast yet still inefficient bureaucracy.
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