The inaugural Design & Build Expo, organized by Ecobank and its partners, is set to showcase 54 exhibitors and aims to cater to multiple sectors of the economy with a specific focus on the construction industry. Omoboye Odu, Head of SME, Partnerships, and Collaboration at Ecobank, highlighted the necessity of this event during a media briefing held at the bank’s headquarters in Lagos. This five-day event will serve as a platform for networking, partnership opportunities, and international visibility for participants in the construction value chain. By expanding their outreach in this sector, Ecobank is reinforcing its commitment to support various industries in Nigeria and across Africa, where it boasts the largest banking presence in 34 countries.
The Design & Build Expo is designed to provide significant exposure for professionals in architecture and building sectors, enabling them to present and market their products to a wider audience. The event prioritizes networking opportunities that will be beneficial not only for entrepreneurs but also for consumers and stakeholders across the industry. Odu emphasized the importance of offering these platforms for knowledge exchange, revealing that industry experts will host sessions that foster the sharing of valuable insights. Additionally, innovative exhibitions, product displays, and engaging design competitions will encourage creativity and forward-thinking solutions within the construction landscape.
Taking place in 2024, the expo will highlight the latest trends, innovations, and sustainable practices in architecture, construction, building materials, and interior design, among other sectors. It seeks to empower businesses, provide financial solutions, promote economic growth, and establish stronger relationships among key stakeholders. The overarching theme, “Building Nigeria Together,” emphasizes the collaborative spirit of the event in tackling infrastructural and developmental challenges facing the nation. Participants will gain access to contemporary designs and innovations, essential for informing their upcoming real estate or construction projects.
In addition to showcasing new products and designs, the expo will also introduce attendees to bespoke mortgage plans, construction loans, and various investment opportunities aimed at simplifying property ambitions. By facilitating connections with top developers, architects, and builders, the event aspires to create pathways for effective collaboration in future projects. The focus on fostering such relationships indicates a crucial step towards enhancing capacity and expertise within the Nigerian construction sector.
Market insights from the US International Trade Administration indicate that Nigeria’s construction sector is poised for growth, with an expected annual average increase of 3.2 percent between 2022 and 2026. This growth is a step up from the previous year and reflects a broader trend of revitalization in the industry. However, in order to address existing infrastructure deficits, the World Bank estimates that Nigeria requires approximately $3 trillion in investments. The government has recognized these challenges and has initiated measures to enhance infrastructure development through increased spending within the framework of the National Integrated Infrastructure Master Plan (NIIMP), which aspires to elevate Nigeria’s infrastructure holdings to 70 percent of GDP by the year 2043.
Construction initiatives in Nigeria are presently driven by a combination of governmental and private sector investments. The Design & Build Expo provides a critical forum for engaging both avenues of investment, allowing private players and the government to collaborate and explore joint ventures that could address the collective ambition of improving infrastructure. By reinforcing such partnerships and nurturing a culture of innovation within the construction industry, Ecobank’s initiative not only supports the aspirations of its customers but also aligns with national development objectives, ultimately contributing to the realization of a more sustainable and modern Nigerian economy.
