Nigeria: The cement industry is set to reach a market value of US$1.44bn by the end of 2025, following a 9.4% compound annual growth rate (CAGR) between 2020 and 2024, according to The Daily Times. The sector is projected to expand at a 7.9% CAGR between 2025 and 2029, with the market forecast to grow from US$1.33bn in 2024 to US$1.96bn by the end of 2029.
Growth is reportedly being driven by public infrastructure projects, urban housing and import substitution. Local producers have managed to maintain supplies, despite currency pressure, energy costs and logistics constraints. Firms are investing in alternative fuels, digital logistics and energy optimisation to manage volatility and support sustainability targets. However, long-term competitiveness will depend on regulatory reforms, energy stability and sustainable resource management.
