At this rate, do you think we need more government regulation on building material prices, or is this just the new global reality?
Let’s discuss in the comments. Are you still building, or are you waiting for prices to "crash"? 👇
Construction materials price increases over selected periods
1. Cement (2019-2026): +367%
2. Doors (2023-2024): +245%
3. Iron rods (2023-2024): +137%
4. Sharp sand (Q1 2025-Q1 2026): +25%
5. Steel (Q1 2025-Q1 2026): +20%
Source
Price of 50kg bag of cement in Nigeria (2019-2026)
Pre-2020: N2,500-N3,000
2021: N3,300-N3,500
2022: N5,500-N8,000
Feb 2024: N10,000-N14,000
Q4 2025: N10,000-N10,500
Jan 2026: N10,000-N10,500
Mar 2026: N11,500-N15,000
The price of a 50kg bag of cement has increased up to 367% in 7 years
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