Nigeria’s ambitious housing and infrastructure programmes risk being undermined by the relentless rise in cement and other building material prices, the Minister of Works, Senator David Umahi, has warned.
Speaking during an inspection tour of the Abuja–Obajana Junction road in Kogi State over the weekend, Umahi expressed concern that despite ongoing government reforms stabilising the naira and easing inflationary pressures, the cost of key construction inputs has continued to soar.
“The dollar is being stabilised, but the price of cement has moved from ₦7,500 to ₦9,500. Same with shipping, same with sand. Inflation is coming down even though construction materials are going up, and we don’t know why,” he said.
The minister stressed that the Tinubu administration has placed roads and bridges at the heart of its development agenda, identifying them as critical drivers of economic growth. He noted that the construction sector remains pivotal to Nigeria’s GDP expansion, with several other industries dependent on its performance.
Describing the price surge as a paradox that defies market logic, Umahi likened it to unusual phenomena in physics where outcomes behave contrary to expectations.
Despite the concerns, he maintained that government reforms are yielding encouraging signs, particularly in the food sector, where prices are beginning to decline. “We are doing the best we can under the circumstances. And we are happy that food prices are coming down,” he added.
