The federal government is apparently rattled and miffed by the escalating price of cement as it is calling on cement manufacturers to, as a matter of urgency, reduce the price of the product.
David Umahi, minister of works, who made the call, noted that it is not only that the price hike is piling pressure on infrastructure projects, but also increasing demands for contract variations by contractors handling government projects.
In Nigeria, material inflation is currently structural rather than cyclical. A 50kg bag of cement that was priced between N7,500 and N10,000 in 2025 increased to as much as N13,000 in 2026, with some other construction materials experiencing a 100 percent increase.
Overall, cement prices in Nigeria are currently soaring, reaching as high as N13,000 per 50kg bag, with retail prices hovering between N11,500 and N15,000 in various parts of the country. This steep surge is driven by elevated production and energy costs, and has stalled major construction projects while threatening homeownership dreams.
The latest hike follows recent price adjustments by major manufacturers, including Dangote Cement and BUA Cement, leaving builders, contractors, landlords, and prospective homeowners struggling to cope with rising costs.
