According to REDAN President Oba Akintoye Adeoye, a 50kg bag of cement has surged from NGN7500 (US$5.49) in late 2025 to between NGN11,500 (US$8.41) and NGN15,000 (US$10.97). This rapid spike is heavily disrupting construction projects and intensifying financial strain on developers already battling inflation and exchange-rate volatility.
Because cement dictates overall construction costs, these current prices make housing delivery unsustainable.
REDAN is urgently calling for Federal Government intervention to stabilise the building materials value chain and protect ongoing developments.
REDAN is urgently calling for Federal Government intervention to stabilise the building materials value chain and protect ongoing developments.
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