Business

Nigeria’s Cement Industry set for 2024 resurgence with N1.32 trillion infrastructure boost-Report

Financial analysts at CardinalStone Research have said that in 2024, the Nigerian cement industry is expected to benefit from renewed government focus on infrastructure development and construction projects, which could stimulate demand for cement products.


The analysts stated this in their report on Nigeria Cement Sector 2024 Outlook tagged ‘Nigeria Cement Rebounding from a tumultuous year’


They noted that with increased budget allocations to critical sectors and ambitious infrastructure initiatives (N1.32 trillion to infrastructure, which represents 5.0% of the total FG 2024 budget), the construction industry is likely to experience a resurgence.