For many years, the cost of building materials in Nigeria has been a source of concern because it has a direct impact on the affordability and accessibility of housing for the typical Nigerian. The cost of building materials has risen dramatically in recent years, generating a rippling effect in the real estate business.
Inflation, foreign exchange rates, transportation costs, and government policies are all factors that contribute to the high cost of building materials in Nigeria. The COVID-19 pandemic also had a substantial impact on the cost of building materials, as it interrupted global supply lines and generated a shortage of raw materials, which has yet to recover.
The high cost of construction materials has slow-down demand for housing, as many Nigerians cannot afford to build or buy a home. This has had a severe influence on the Nigerian real estate business, which is a crucial component of the economy.
To alleviate the high cost of building materials, the government has taken certain initiatives, including lowering import levies on specific commodities and increasing local manufacturing. More work, however, is required to make building materials more affordable and available to Nigerians.
In this context, it is critical to assess the present cost of building materials in Nigeria and consider prospective cost-cutting measures. This analysis can assist real estate stakeholders, policymakers, and the government in making educated decisions and taking necessary action to address the issue.
Current Cost of Building Materials in Nigeria (2023)
Prices of Wires in Nigeria
A bundle of flexible binding wire costs around N5,300-6,000, whereas a 10kg roll costs around N43,500-47,000.
A bundle of firm binding wire, on the other hand, costs between N6,300 and N6,800, with a 10kg coil costing between N47,000 and N48,000.
Latest Cement Prices in Nigeria (2023)
Cement is a vital component in the construction of constructions. The following are the price ranges for several cement brands in Nigeria:
- 50kg-pack of Dangote cement cost ₦3,500 to ₦4,500
- 50kg-pack of Elephant cement cost ₦4,200
- 50kg-pack of Eagle cement costs ₦4,250
- 50kg-pack of UNICEM cement costs ₦4,200
- 50kg-pack of Cellular Concrete cement cost ₦3,900
- 50kg-pack of Ibeto cement costs ₦4,000
- 50kg-pack of Ashaka cement cost ₦4,000
- 50kg-pack of Wapco cement cost ₦4,400
- 50kg-pack of Sokoto cement costs ₦4,050.
Current Price of Tiles in Nigeria (Per Square Meter)
There is a large variety of floor and wall tiles available in Nigeria, each with its own texture, size, quality, and design. Here are some examples of tiles typically available in the Nigerian market:
Vitrified tiles price in Nigeria
- 300×300 pack cost N4000-5,000
- 450×450 pack cost N5,100-6500
Polished Porcelain Price in Nigeria
- 40 x 40 cost N2,800 – N3,000
- 60 X 120 High Gloss Porcelain Slab Tiles cost N4,000 – N5,500
- 300×600 Wall Porcelain Tiles cost N5,000 – N10,000
Granite Tiles Price in Nigeria (Per Square Meter)
- 30 x 30 cost M6,300 – N7,500
- 40 x 40 cost N6,400 – N6,800
- 30 x 60 cost N5,700 – N6,000
- 60 x 60 cost N7,700 – N8,000
Current Prices of Steel Rods in Nigeria (2023)
Steel rods are similar to the skeleton of any structure or building. The following is a list of current steel rod prices in Nigeria:
- 1 piece of 8 mm steel rod costs ₦700 to ₦850
- 1 piece of 16 mm steel rod cost ₦1,500 to ₦2,000
- 120 pieces (1 ton) of 16 mm steel rod cost ₦170,000 to ₦174, 000
- 1 piece of 12 mm steel rod cost ₦1,100 to ₦1,500
- 176 pieces (1 ton) of 12 mm steel rod cost ₦165,000 to ₦170,000
- 1 length of 10 mm steel rod cost ₦1,000 to ₦1,100
- 1 piece of 25 mm steel rod cost ₦4,500 to ₦4, 8000
- 42 pieces (1 ton) of 25 mm steel rod cost ₦180,000 to ₦185,000
- 1 piece of 20 mm steel rod cost ₦2,600 to ₦3, 000
- 74 pieces (1 ton) of 20 mm steel rod cost ₦180,000 to ₦185,000
- 185 pieces (1 ton) of 10 mm steel rod costs ₦165,000 to ₦167,000
- 282 pieces (1 ton) of 8 mm steel rod costs ₦165,000 to ₦170,000
- BRC Mesh (20 m of 3.5 mm) costs ₦14,000 to ₦15,000
- BRC Mesh (20 m of 4.0 mm) cost ₦17,000 to ₦18,000
- BRC Mesh (25 m of 4.0 mm) cost ₦25,000 to ₦27,000
- A roll of flexible Binding wire cost ₦5,000 to ₦5,500
- 10 kg bundle of flexible binding wire cost ₦45,000 to ₦48,000
- 1 roll of stiff binding wire costs ₦6,000 to ₦7,000
- 10 kg bundle of stiff binding wire cost ₦47,000 to ₦50, 000
Current Prices of Concretes in Nigeria (2023)
Granite is a popular building material for casting buildings. The following are the current pricing for 20 tonnes of granite in various sizes:
- 7 tons’ cargo of 1-1/4 inch Gravel cost ₦33,000 to ₦37,000
- 20 tons’ cargo of Granite stone dust cost ₦50,000 to ₦55,000
- 20 tons’ cargo of ¾-inch Granite costs ₦80,000 to ₦90,000
- 20 tons’ cargo of 1-inch Granite cost ₦85,000 to ₦90, 000
- 20 tons’ cargo of ¼-inch Granite costs ₦70,000 to ₦75,000
- 20 tons’ cargo of ½-inch Granite costs ₦80,000 to ₦90,000
Prices of Building Blocks in Nigeria (2023)
Blocks are the foundation of every building or structure. It is preferable to make bricks rather than purchase them. To determine the cost of moulding blocks, you must first determine the cost of labour. The following are the prices of several blocks in Nigeria:
- 9” blocks costs between ₦230 to ₦270
- 6” vibrated blocks cost between ₦270 to ₦350
- 9” hand mold blocks cost between ₦270 to ₦330
- 6” hand mold blocks cost between ₦270 to ₦300
Current Prices of Sand in Nigeria (2023)
Below is the price list of sharp and smooth sands in Nigeria:
- 20 tons of Sharp coarse sand (1 tipper) costs between ₦42,000 to ₦45,000
- 1 tipper of 20 tons of Sharp coarse sand that is not very silty costs between ₦30,000 to ₦33, 000
- 1 tipper of 20 tons of Sharp coarse sand with average silt costs between ₦40,000 to ₦45,000
- 7 tons of very smooth/plaster sand costs between ₦25,000 to ₦28,000
- 7 tons of fairly smooth sand costs between ₦18,000 to ₦20,000
- 7 tons of sticky smooth sand costs between ₦25,000 to ₦28,000.
Latest Prices of Laterite in Nigeria (2023)
Laterite is an iron and aluminum-based building material that is red in colour, similar to brick. The following are the pricing for this building material:
- 10 tons of very clayey yellow-brown Laterite costs between ₦10,000 to ₦12, 000
- 10 tons of very clayey red Laterite costs between ₦10,000 to ₦15,000
- 10 tons of very clayey grayish Laterite costs between ₦10,000 to ₦12,000
- 10 tons of not very clayey brownish yellow Laterite costs between ₦10,000 to ₦12,000
- 10 tons of not very clayey red Laterite costs between ₦10,000 to ₦12,000
- 7 tonnes of Broken blocks and sand Crete costs between ₦17,000 to ₦18,000
- 10 tonnes of not very clayey whitish Laterite costs between ₦10,000 to ₦12,000
- 10 tonnes of black soil Filling sand costs between ₦9,000 to ₦11,000
- 10 tonnes of bubbles Filling material costs between ₦12,000 to ₦14,000
- 10 tonnes of absorbent Filling sand costs between ₦20,000 to ₦22,000
- 15 tons of large Boulder costs between ₦70,000 to ₦175,000
- 15 tons of small Boulder costs between ₦45,000 to ₦50,000
Latest Prices of Roofing Sheets in Nigeria (2023)
Aluminum roofing sheets prices in Nigeria are highlighted below:
- 0.45 Aluminum roofing sheets cost between ₦1,550 to ₦1,700
- 0.70 Aluminum roofing sheet costs between ₦2,400 to ₦2,600
- 0.90 Aluminum roofing sheets cost between ₦2,700 to ₦3100
- 0.55 Aluminum roofing sheet cost between ₦1,900 to ₦2,200
Latest Prices of Windows in Nigeria (2023)
There are many types of windows ranging from sliding, casement, fixed, louvers windows, etc. Their prices are listed below:
- 750×750 mm louvre window cost ₦1,800
- 1500×1200 mm louvre window cost ₦8,000
- 1800×1200 mm louvre window cost ₦10,000.
- 600×600 mm Aluminum-covered cost between ₦4,000 to 5,500
- 600×600 mm Bronze-glazed cost between ₦7,000 to 8,000
- 600×750 mm bronze-glazed cost between ₦7,000 to 8,000.
- 600×600 mm Aluminum-covered cost between N7,000 to N8,000
- 600×600 mm Bronze-glazed cost between ₦7,000 to 8,000
- 600×750 mm bronze-glazed cost between ₦9,000 to 10,500.
- 600×600 mm Aluminum-covered cost between ₦3,500 to 5,000
- 600×600 mm Bronze-glazed cost between ₦6,500 to 8,000
- 600×750 mm bronze-glazed costs between ₦7,000 to 8,000
Wood Prices in Nigeria
Wood Type & Size Price (NGN)
- Afara ¼-inch Plywood N2, 000- N2,400
- Afara ½-inch Plywood N2,800 – N3,400
- Afara ¾-inch Plywood N4,900 – N5,700
- Obeche ¼-inch Plywood N1,500 – N1,900
- Obeche ½-inch Plywood N2,200 – N3,700
- Obeche ¾-inch Plywood N4,000 – N4,600
- Msgs ¼-inch Plywood N1, 600 – N2, 000
- Msgs ¾-inch Plywood N7, 600 – N8,200
- Resin Coated ¼-inch Plywood N2,400 – N2,900
- Resin Coated½-inch Plywood N2,900 – N3,200
- Resin Coated ¾-inch Plywood N3,200 – N3,600
- Veneer ¼-inch Plywood N2,100 – N2,700
- Veneer ½-inch Plywood N2,600 – N3,100
- Veneer ¾-inch Plywood N3,400 – N4,200
- 2×3×4 Softwood N100 –N200
- 2×3×12 Softwood N200 – N250
- 1×2×12 Softwood N400 – N500
- 2×2 Hardwood N100 – N200
- 2×3 Hardwood N180 – N250
- 2×4 Hardwood N300 – N400
- 2×5 Hardwood N400 – N550
- 2×6 Hardwood N500 – N600
- 3×4 Hardwood N550 – N650
Different Door Prices in Nigeria
Door Types and Prices
- Domestic furniture doors N5,500 – N8,200
- Flush plywood (low-density) door N6,000 – 88,000
- Flush plywood (high-density)door N8,500 – N12,00
- Chinese (Single) door N10,000 – N20,000
- Chinese (Double) door N20,000 – N38,000
- Turkey door N22,000 – N33,000
- Imported Security (double) door N27,000 – N38,000
- Metal Security (Single) door N19,000 – N26,000
- Metal Security (Double) door N45,000 – N65,000
Prices of Nails in Nigeria
Sizes and Prices
- 1 pack of 3-inch concrete nails N800 – N1,200
- 1 pack of 2-inch concrete nails N900 – N1,200
- 1 pack of 4-inch concrete nails N1,000 – N1,200
- 1 bag of 2-inch nails N5,300 – N6,000
- 1 bag of 3-inch nails N5,800 – N6,000
- 1 bag of 2 ½-inch nails N6,000 – N6,200
- 1 bag of 1-inch nails N6,000 – N6,500
- 1 bag of 4-inch nails- N6,200 – N6,500
That is a complete look at the current building material pricing in Nigeria. However, there may be some minor differences between what is gained in the real market.
The price variance of these materials is due to unique factors such as currency exchange rate for imported materials, location and time of purchase, brand, and other associated elements that influence the product cost.
The Nigerian market has a wide range of building materials, and we analyse a substantial number of the most important products required for the construction business, as well as how much they cost in the present market. These materials are widely available throughout the country, depending on the availability to that specific area.
Factors Influencing the Cost of Building Materials in Nigeria
Several factors influence the cost of building materials in Nigeria. Here are five important factors:
- Foreign exchange rate: Many building materials in Nigeria are imported, and their prices are greatly influenced by the exchange rate. Exchange rate fluctuations can have a substantial impact on the cost of building supplies, causing price rises or decreases.
- Inflation: In Nigeria, inflation is a significant factor influencing the cost of building supplies. As the general price level of products and services rises, so will the cost of building materials, resulting in greater construction costs.
- Transportation costs: Materials for building must be delivered from the point of manufacture or importation to the construction site. Transportation costs, such as fuel prices, transportation infrastructure, and security, can have a substantial impact on the cost of building supplies.
- Availability and demand: The availability and demand for building materials can have an impact on their cost. If a material is in high demand and its supply is restricted, the price of the material may rise.
- Government policies, such as taxes, tariffs, and restrictions, can have a substantial impact on the cost of building materials. High taxes or tariffs on imported building materials, for example, can raise the cost of construction, whereas policies that encourage local production or reduce taxes can lower prices.
Now that you know the cost of building materials in Nigeria as well as factors affecting the prices. You can now make your estimate, get your money, and hit the market, and bring that dream structure to life.