ABUJA, Nigeria – The price of cement in Nigeria has risen to about N13,000 per bag, prompting calls for urgent government intervention to reduce the cost of building materials and housing.
Aliyu Wammakko, a housing sector expert and former president of the Real Estate Developers Association of Nigeria (REDAN), said the surge in cement and iron rod prices was worsening the country’s housing deficit and making home ownership increasingly difficult for ordinary Nigerians.
Wammakko said cement, which he purchased for about N7,500 per bag in March 2025, now sells for around N13,000 and continues to rise.
He urged the Federal Government to review taxes and levies imposed on cement manufacturers and consider subsidies or other incentives to reduce production costs.
According to him, lowering the cost of building materials would help reduce construction expenses and, ultimately, ease pressure on rents.
Wammakko also called for increased funding for the Federal Mortgage Bank of Nigeria, proposing at least N1 trillion to provide affordable financing for housing development and home ownership.
Post a Comment