Infrastructure Wrap-Up Report and Outlook 2024

2023 heralded significant developments in the Nigerian infrastructure landscape. Notably, there were laudable initiatives aimed at facilitating investment in infrastructure projects to tackle Nigeria’s huge infrastructure deficit. These include the proposed establishment of the Infrastructure Support Fund, the establishment of the Construction Finance Warehouse Facility and the proposed Health Sector Renewal Investment Initiative. The infrastructure sector also witnessed a remarkable legislative milestone, specifically the enactment of the Constitution of the Federal Republic of Nigeria (Fifth Alteration) Act, No. 32, 2023 which grants states the power to make laws on the regulation of railways within their states.

Our Infrastructure Wrap-up Report highlights important developments and landmark events which shaped the Nigerian infrastructure space in 2023. In 2024, we anticipate an increase in investment in critical infrastructure across several sectors which will be propelled by public-private partnerships, local currency financing, issuance of green and social bonds, increased broadband penetration and favourable government policies.

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