Cost of Building Materials in Nigeria in 2023: A Comprehensive Guide

For many years, the cost of building materials in Nigeria has been a source of concern due to its direct impact on housing affordability and accessibility for the average Nigerian. In recent years, the cost of building materials has surged, significantly affecting the real estate industry. Several factors, including inflation, foreign exchange rates, transportation costs, and government policies, contribute to the high costs. The COVID-19 pandemic has also disrupted global supply chains and caused raw material shortages, further driving up prices.*

 

This increase in construction material prices has led to decreased demand for housing, as many Nigerians can no longer afford to build or purchase homes. This, in turn, has had a significant impact on the Nigerian real estate sector, which is a vital component of the economy. The government has taken certain initiatives to alleviate the high cost of building materials, such as reducing import levies on specific commodities and promoting local manufacturing. However, more efforts are needed to make building materials more affordable and accessible to Nigerians.

 

 

Current Cost of Building Materials in Nigeria (2023)

 

Prices of Wires:

•   A bundle of flexible binding wire: N5,300 – N6,000
•   10kg roll of flexible binding wire: N43,500 – N47,000
•   A bundle of firm binding wire: N6,300 – N6,800
•   10kg coil of firm binding wire: N47,000 – N48,000

 

Latest Cement Prices

•   Dangote cement (50kg-pack): N3,500 – N4,500
•   Elephant cement (50kg-pack): N4,200
•   Eagle cement (50kg-pack): N4,250
•   UNICEM cement (50kg-pack): N4,200
•   Cellular Concrete cement (50kg-pack): N3,900
•   Ibeto cement (50kg-pack): N4,000
•   Ashaka cement (50kg-pack): N4,000
• Wapco cement (50kg-pack): N4,400
• Sokoto cement (50kg-pack): N4,050

 

Current Price of Tiles (Per Square Meter)

• Vitrified tiles
  • 300×300 pack: N4,000 – N5,000
  • 450×450 pack: N5,100 – N6,500

 

• Polished Porcelain
  • 40×40: N2,800 – N3,000
  • 60×120 High Gloss Porcelain Slab Tiles: N4,000 – N5,500
  • 300×600 Wall Porcelain Tiles: N5,000 – N10,000

 

• Granite Tiles:
  • 30×30: N6,300 – N7,500
  • 40×40: N6,400 – N6,800
  • 30×60: N5,700 – N6,000
  • 60×60: N7,700 – N8,000

 

Current Prices of Steel Rods:

•   8 mm steel rod: N700 – N850
•   16 mm steel rod: N1,500 – N2,000
•   12 mm steel rod: N1,100 – N1,500
•   10 mm steel rod: N1,000 – N1,100
•   25 mm steel rod: N4,500 – N4,800
•   BRC Mesh (20 m of 3.5 mm): N14,000 – N15,000
•   BRC Mesh (20 m of 4.0 mm): N17,000 – N18,000
•   BRC Mesh (25 m of 4.0 mm): N25,000 – N27,000
•   Roll of flexible Binding wire: N5,000 – N5,500
•   10 kg bundle of flexible binding wire: N45,000 – N48,000
•   Roll of stiff binding wire: N6,000 – N7,000
•   10 kg bundle of stiff binding wire: N47,000 – N50,000

 

 

Current Prices of Concretes:

•   1-1/4 inch Gravel (7 tons’ cargo): N33,000 – N37,000
•   Granite stone dust (20 tons’ cargo): N50,000 – N55,000
•   ¾-inch Granite (20 tons’ cargo): N80,000 – N90,000
•   1-inch Granite (20 tons’ cargo): N85,000 – N90,000
•   ¼-inch Granite (20 tons’ cargo): N70,000 – N75,000
•   ½-inch Granite (20 tons’ cargo): N80,000 – N90,000

 

Prices of Building Blocks:

•   9″ blocks: N230 – N270
•   6″ vibrated blocks: N270 – N350
•   9″ hand mold blocks: N270 – N330
•   6″ hand mold blocks: N270 – N300

 

Current Prices of Sand:

•  Sharp coarse sand (1 tipper – 20 tons): N42,000 – N45,000
•  Sharp coarse sand (1 tipper – 20 tons, not very silty): N30,000 – N33,000
•  Sharp coarse sand (1 tipper – 20 tons, average silt): N40,000 – N45,000
•  Very smooth/plaster sand (7 tons): N25,000 – N28,000
•  Fairly smooth sand (7 tons): N18,000 – N20,000
•  Sticky smooth sand (7 tons): N25,000 – N28,000

 

Latest Prices of Laterite:

•   Very clayey yellow-brown Laterite (10 tons): N10,000 – N12,000
•   Very clayey red Laterite (10 tons): N10,000 – N15,000
•   Very clayey grayish Laterite (10 tons): N10,000 – N12,000
•   Not very clayey brownish yellow Laterite (10 tons): N10,000 – N12,000
•   Not very clayey red Laterite (10 tons): N10,000 – N12,000

 

Latest Prices of Roofing Sheets:

•   0.45 Aluminum roofing sheets: N1,550 – N1,700
•   0.70 Aluminum roofing sheet: N2,400 – N2,600
•   0.90 Aluminum roofing sheets: N2,700 – N3,100
•   0.55 Aluminum roofing sheet: N1,900 – N2,200

 

Latest Prices of Windows:

• Louvre Windows:
  • 750×750 mm: N1,800
  • 1500×1200 mm: N8,000
  • 1800×1200 mm: N10,000

 

•  Sliding Windows:
  • 600×600 mm Aluminum-covered: N4,000 – N5,500
  • 600×600 mm Bronze-glazed: N7,000 – N8,000
  • 600×750 mm bronze-glazed: N7,000 – N8,000

 

•  Casement Windows
  • 600×600 mm Aluminum-covered: N7,000 – N8,000
  • 600×600 mm Bronze-glazed: N7,000 – N8,000
  • 600×750 mm bronze-glazed: N9,000 – N10,500

 

•   Fixed Windows
  • 600×600 mm Aluminum-covered: N3,500 – N5,000
  • 600×600 mm Bronze-glazed: N6,500 – N8,000
  • 600×750 mm bronze-glazed: N7,000 – N8,000

 

• Wood Prices:
  • Afara Plywood (per sheet):
    • ¼-inch: N2,000 – N2,400
    • ½-inch: N2,800 – N3,400
    • ¾-inch: N4,900 – N5,700
  • Obeche Plywood (per sheet):
    • ¼-inch: N1,500 – N1,900
    • ½-inch: N2,200 – N3,700
    • ¾-inch: N4,000 – N4,600
  • Msgs Plywood (per sheet):
    • ¼-inch: N1,600 – N2,000
    • ¾-inch: N7,600 – N8,200
  • Resin Coated Plywood (per sheet):
    • ¼-inch: N2,400 – N2,900
    • ½-inch: N2,900 – N3,200
    • ¾-inch: N3,200 – N3,600
  • Veneer Plywood (per sheet):*
    • ¼-inch: N2,100 – N2,700
    • ½-inch: N2,600 – N3,100
    • ¾-inch: N3,400 – N4,200

 

• Different Door Prices:
  •   Domestic furniture doors: N5,500 – N8,200
  •   Flush plywood (low-density) door: N6,000 – N8,000
  •   Flush plywood (high-density) door: N8,500 – N12,000
  •   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:
  •   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

 

Factors Influencing the Cost of Building Materials in Nigeria

Several factors influence the cost of building materials in Nigeria:

1. Foreign exchange rate: As many building materials in Nigeria are imported, their prices are highly influenced by the exchange rate, leading to price fluctuations.
2. Inflation: Inflation significantly affects the cost of building supplies, as rising general price levels increase construction costs.
3. Transportation costs: The transportation of materials from manufacturing or importation points to construction sites can impact costs due to factors like fuel prices and transportation infrastructure.
4. Availability and demand: The supply and demand for building materials can affect their cost. High demand and restricted supply can lead to price increases.
5. Government policies: Government policies, including taxes, tariffs, and import restrictions, can substantially affect building material prices. High taxes on imports can increase construction costs, while policies promoting local production can lower prices.

 

Conclusion

Now equipped with knowledge about the cost of building materials in Nigeria and the factors influencing these prices, you can make more informed decisions when planning your construction projects. Keep in mind that prices may vary due to factors like currency exchange rates, location, and market conditions, so it’s essential to stay updated on current pricing in your specific area. The Nigerian market offers a wide range of building materials, making it possible to find suitable options throughout the country. This knowledge will help you bring your dream structure to life while managing your budget effectively.