The House of Representatives has commenced moves to investigate the continuous increase in the prices of building materials across Nigeria, warning that the trend is deepening the nation’s housing crisis and making home ownership increasingly difficult for millions of citizens.

The resolution followed the adoption of a motion presented during plenary by Hon. Oboku Abonsizibe Oforji, who raised concerns over the sharp rise in the cost of essential construction materials despite Nigeria’s abundance of local raw materials used for building production.

Oforji noted that Nigeria is richly endowed with resources such as limestone, timber, sand, and granite, which are major components in the production of cement and other construction materials. However, he said Nigerians continue to grapple with soaring construction costs that are affecting both private and public projects nationwide.

According to the lawmaker, the construction industry remains one of the strongest contributors to Nigeria’s economy, with the sector valued at over N25.7 trillion in 2025 and projected to witness further growth in the coming years.

Despite this growth potential, he lamented that the cost of building materials has continued to rise at an alarming rate.

He disclosed that the price of a 50kg bag of cement, which sold for about N7,500 in late 2025, has increased to between N11,500 and N12,100 in 2026, representing a rise of about 50 to 60 percent within a short period.

The lawmaker further revealed that prices of steel materials have also risen by about 20 percent, while sharp sand recorded an increase of approximately 25 percent. Granite and timber products, according to him, have equally experienced significant price hikes across different parts of the country.

Oforji stressed that the situation has become more worrisome considering that cement prices have risen by more than 300 percent since 2019, when a bag sold between N2,400 and N3,000.

He warned that the persistent increase in construction costs is worsening Nigeria’s housing deficit, which is currently estimated at about 28 million housing units.

According to him, the rising costs are forcing many developers and individuals to abandon building projects while also contributing to the steady increase in rent and property prices nationwide.

He added that the development is negatively impacting government infrastructure projects and causing job losses across the construction sector and related industries.

The lawmaker questioned why construction costs remain excessively high despite the availability of local raw materials, suggesting that possible market manipulation, supply chain inefficiencies, anti-competitive practices, or exploitation within the value chain could be responsible for the trend.

Following deliberations, the House called on the Federal Government, through the Federal Ministry of Housing and Urban Development, the Federal Ministry of Industry, Trade and Investment, and the Federal Competition and Consumer Protection Commission (FCCPC), to investigate the persistent rise in building material prices.

Lawmakers said the investigation should uncover factors responsible for the continuous increase, including possible market distortions and anti-competitive activities within the sector.

The House also resolved to constitute an ad hoc committee to conduct a detailed investigation into the matter and provide recommendations aimed at addressing the growing housing and construction challenges in the country.

The post Reps Launch Probe Into Rising Building Material Costs Over Housing Crisis Concerns appeared first on Housing TV Africa.

Nigeria’s housing sector is facing growing pressure as rising cement prices continue to drive up construction costs, prompting developers and housing experts to call for urgent government intervention.

Cement prices jump above ₦15,000

Speaking during a joint press conference in Lagos, REDAN President said the price of a 50kg bag of cement has increased sharply within a few months.

According to him, cement sold for about ₦7,500 in late 2025, rose to between ₦9,000 and ₦10,000 at the beginning of 2026, and has now climbed to ₦11,500–₦15,000 in several parts of Nigeria.

Adeoye noted that cement is a major component of construction costs, warning that the sudden spike is already affecting housing development projects nationwide.

“When the price of cement rises significantly, the entire cost structure of housing development is affected,” he said.

Developers slowing projects

The rising cost of cement, iron rods, sand, and other construction materials has placed many developers under severe financial pressure.

According to REDAN, some developers are now scaling down projects, delaying construction timelines, or abandoning housing developments altogether.

Adeoye warned that the situation could worsen Nigeria’s already massive housing shortage and make homeownership even more difficult for millions of citizens.

He also raised concerns that high construction costs could push some builders to use substandard materials, potentially compromising building safety.

Construction sector under pressure

Also speaking, , founder of the housing centre at the University of Lagos, noted that the construction sector remains a major driver of economic growth and employment in Nigeria.

He revealed that cement prices have risen by more than 30 percent in recent months, while steel prices have increased by about 20 percent, and sharp sand costs have climbed by nearly 25 percent.

According to Nubi, the increases are driven by a combination of global market pressures, logistics challenges, and rising local demand.

Rising rents across major cities

The rising cost of construction is already affecting housing prices and rental markets across the country.

Nubi said annual rent for a self-contained apartment in Lagos and Abuja has increased significantly, rising from about ₦400,000 previously to between ₦800,000 and ₦1.5 million in many locations.

Similar trends are emerging in other cities such as Kano and Port Harcourt.

Experts warn that if the trend continues, housing affordability could deteriorate further in urban areas.

Calls for government action

REDAN urged the Federal Government and the Federal Ministry of Housing and Urban Development to engage cement manufacturers and stakeholders in the construction materials value chain to stabilise prices.

The organisations also recommended policies that would:

• Support local production of building materials
• Improve logistics and supply chains
• Promote transparency in the construction materials market

In addition, researchers called for increased investment in alternative building materials and innovative construction technologies that could reduce reliance on conventional materials like cement.

The post Cement Prices Surge to ₦15,000, Threatening Nigeria’s Affordable Housing Efforts – REDAN appeared first on Housing TV Africa.

A recent market survey shows that a 50-kilogramme bag of cement now sells for between ₦9,500 and ₦12,000 in many areas. Earlier in March 2025, the price had dropped to ₦7,800 after peaking at ₦15,000 in February 2024.

The continuous rise in cement prices has led to higher building costs and house rents across Nigeria. Many citizens are struggling to afford decent housing.

Speaking on the issue, real estate stakeholder Benjamin Udoka criticized the price hike. “It is painful that Dangote did not replicate his fuel price reduction strategy in cement. In some parts of Abuja, cement costs as much as ₦11,000 per bag. The government must act to control prices and reduce the burden on Nigerians,” Udoka said.

Maryam Abubakar, a resident of Dawaki, also called for immediate action to address the cement price increase in Nigeria.

Aliyu Wamakko, past national president and Board of Trustees member of the Real Estate Developers Association of Nigeria (REDAN), blamed the high prices on poor regulation and rising demand. “Cement consumption in Nigeria is higher than before. Basic economics shows that when demand exceeds supply, prices go up. About 70% of cement materials are sourced locally, yet prices remain high,” he explained.

Wamakko also noted that using cement for road construction adds more pressure to the demand. “The government needs to engage cement manufacturers as it did in March 2025 to reduce prices and ease economic hardship,” he advised.

Efforts to get comments from Dangote Group spokesman Anthony Chijiena and the Federal Competition & Consumer Protection Commission (FCCPC) were unsuccessful.

The National Bureau of Statistics (NBS) reported that Nigeria’s headline inflation fell to 22.97% in May. Food inflation is also declining. However, housing costs remain high. For example, the rent for a self-contained apartment in Gwarimpa, Abuja, has risen from ₦700,000 to ₦1.5 million per year.

President Tinubu’s 3,112-unit housing project, started in February 2024, has not been completed. Also, the Senate’s investigation into cement price hikes since 2024 has not produced any results.

The cement price increase in Nigeria continues to worsen the housing crisis. Many stakeholders believe urgent government intervention is needed to protect citizens and stabilize the construction sector.

The post Stakeholders Decry 53% Surge in Cement Prices Amid Economic Reforms appeared first on Housing TV Africa.