Nigerians’ hopes for lower construction costs have once again been dashed as building material prices continue to soar, driven by inflation, multiple taxes, exchange rate instability, high transportation costs, and rising production expenses.

Prices of key building materials such as cement, sand, tiles and stones have recorded increases of more than 60 per cent in some cases, while the overall cost of construction continues to rise across the country.

A review by The Guardian shows that prices of several major building materials have nearly doubled since 2025, with some recording increases of over 100 per cent amid sustained inflationary pressures and persistent foreign exchange volatility.

A 50kg bag of cement, which sold for between N8,500 and N10,000 in 2025, now sells for as much as N13,000 in some parts of the country, depending on location and supply conditions.

Sharp sand has also recorded a steep rise, moving from about N40,000–N80,000 per tipper in 2025 to between N170,000 and N350,000 currently, reflecting higher extraction, transportation and fuel costs.

Local stones have followed the same trend, increasing from about N180,000 per tonne in 2025 to as much as N350,000 in some locations, further escalating the cost of structural construction.

Finishing materials have not been spared. A carton of locally produced tiles, which previously sold for between N4,500 and N6,000, now costs between N7,500 and N8,500. Imported tiles have risen even further due to exchange rate volatility, customs charges and higher import costs.

However, prices of some paint brands have declined marginally due to lower demand from homeowners who have delayed repainting projects because of high costs in recent years. For instance, the price of a 20-litre container of emulsion paint, which previously sold for N18,000, has dropped to N17,200, while gloss paint has reduced slightly from N20,000 to N19,900.

The rising cost of building materials has further slowed housing construction and real estate activities, while increasing the prices of other building components.

Manufacturers of cement-based products such as ceiling boards, roofing sheets and concrete products, including paving stones, have also adjusted their prices upward in response to the trend.

Data from the National Bureau of Statistics (NBS) shows that Nigeria’s inflation rate rose to 15.69 per cent in April 2026, up from 15.38 per cent recorded in March 2026, reflecting continued pressure on production inputs, logistics and distribution costs across the building materials supply chain.

Stakeholders warn that unless inflation moderates, foreign exchange pressures ease and local production of building materials improves, prices are likely to remain elevated. They note that this could further increase construction costs, delay project delivery and force more projects to stall at early stages nationwide.

A landlord, Mr Stanley Nnabuike, said instability in the foreign exchange market and rising operational costs are directly responsible for the continued increase in building material prices.

“The exchange rate is not stable, and the high cost of fuel has increased the cost of building materials because companies use fuel to power production equipment. Labour costs have also gone up significantly,” he said.

He added that many suppliers who purchased materials at higher prices in previous months are unable to reduce their selling prices without incurring losses.

A quantity surveyor and construction cost expert, Goodman Etiowo, attributed the trend to structural challenges in the building materials market, particularly limited competition in cement production and the country’s dependence on imported materials.

According to him, inadequate competition among cement manufacturers continues to keep prices high despite increasing demand. “If there were more manufacturers producing cement and related products, the cost of construction would reduce,” he said.

Etiowo also highlighted Nigeria’s dependence on imported building materials such as tiles, sanitary wares and POP fittings, stressing that exchange rate volatility continues to drive up landed costs and retail prices.

An architect, Kingsley Chilaka, said rising building material prices reflect broader weaknesses in Nigeria’s construction supply chain, including high import tariffs, production costs and weak regulatory oversight.

He explained that import duties, clearing charges and production expenses are ultimately transferred to end-users, making building materials increasingly unaffordable for developers and households.

“Most of these companies are heavily taxed, including on imported building materials during the clearing process. By the time they incur such costs in production and importation, the burden is transferred to the end-users,” he said.

Chilaka also criticised the absence of effective price regulation in the sector, noting that manufacturers and suppliers largely determine market prices without adequate monitoring or stabilisation mechanisms.

“There is no proper regulation. Different companies fix prices on their own and there is no effective monitoring system to stabilise the market,” he added.