Cement Prices Hit N15,000 a Bag, REDAN Warns of Looming Housing Crisis
The Real Estate Developers Association of Nigeria (REDAN) has warned that soaring cement prices are pushing Nigeria toward a full-blown housing crisis. According to REDAN President Oba Akintoye Adeoye, a 50kg bag of cement has jumped from N7,500 in late 2025 to between N11,500 and N15,000 today.
Why Prices Keep Climbing
Cement dictates the bulk of construction costs in Nigeria. As prices spike, Adeoye said, housing delivery is becoming unsustainable for developers already battling inflation and currency volatility. The Cement Manufacturers Association of Nigeria has raised prices across major brands, and retail costs now vary by region, running higher in the Southeast and Abuja than in Lagos and the Southwest.
The Human Cost
The impact reaches beyond developers’ balance sheets. A three-bedroom bungalow now costs between N15 million and N25 million to build, driven largely by cement. Aspiring homeowners describe the goalpost moving further away each time they get close. Rising construction costs are also feeding into rent, since developers who absorb higher input costs typically pass them on to tenants.
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What REDAN Wants
REDAN is calling on the Federal Government to intervene and stabilise the building materials value chain. Some stakeholders have also urged government to license more cement importers, arguing that increased competition could ease the upward pressure on prices.
Why This Matters for Real Estate
This adds another layer to Nigeria’s affordability crisis, on top of the newly confirmed 15-million-unit housing deficit and rising rents across major cities. Every cement price hike pushes homeownership further out of reach and deepens reliance on an already strained rental market.
Conclusion
Nigeria has the housing deficit number and the regulatory roadmap. What it still lacks is price stability on the one material construction can’t do without.
PRAISE SAMSON