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The Nigeria Power EPC market expected to grow from 2021-2026.
- Investment and policies among factors to enable growth.
- Geopolitical insecurity will affect the market negatively.
A forecast on the Nigeria Power EPC market has set growth expectations at a 3% rise. This expected rise is to be expected between 2021-2026. Despite COVID-19 restrictions preventing the development of projects in 2020, certain factors would ensure a hopeful turnaround this year.
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Some of the factors expected to fuel growth in the EPC market are the government’s efforts to source international investments in power plants in the counter to increase the ability to meet local demand. Also, favourable government policies would, in turn, drive growth in the market.
Despite the seemingly good news, there are reservations as geopolitical tension and insecurity alongside high inflation and the fiscal deficit would negatively affect the EPC market.