Slide of the month (SOTM) September. Construction machinery imports to Nigeria
The slide of the month September, which was created during a large IAM automotive and off-highway project, shows a drastic decrease of construction machinery imports to Nigeria since 2014. Close to the last presented slide about vehicle inflow to Nigeria, statistics show an important downwards trend of the automotive sector in general. The number of imports of construction machinery decreased by 65% between 2013 and 2015. A positive change is not foreseen for the ongoing year.
However, africon predicts a large market for spare parts in construction soon, before new sales will rise in 2018. Investors might find interesting potentials in this area while detailed analysis of the formal and informal markets as much as insights into local dynamics are recommended.