Cement Prices Surge in Nigeria: Experts Call for Action

Cement prices in Nigeria have risen significantly, exceeding N13,000 per bag, which has raised concerns regarding construction costs and housing affordability. Aliyu Wammakko, a housing expert and former president of the Real Estate Developers Association of Nigeria, emphasized the need for urgent government intervention to make building materials and housing more accessible.

He proposed several measures, including tax reductions, production incentives, subsidies, and enhanced mortgage financing, to help lower prices. Wammakko noted that the cost of a bag of cement has increased from approximately N7,500 in March 2025, marking a rise of over 70%.

This increase has adversely affected landlords, property developers, and tenants, as construction and maintenance costs continue to escalate. He urged the government to review taxes on cement manufacturers and suggested a subsidy for cement production to reduce overall construction costs.

Additionally, Wammakko called for the signing of the Real Estate Regulation and Development Bill and proposed injecting N1 trillion into the Federal Mortgage Bank of Nigeria to improve access to affordable mortgages.