By Sade Adewale & Kayode Olabanji

Cement prices in Nigeria have reached alarming levels, now exceeding N10,000 per 50kg bag, prompting builders, dealers and construction project owners to raise the alarm.

This sharp increase in prices, attributed to soaring raw materials and logistic costs, has sent shockwaves through the construction sector, exacerbating Nigeria’s already dire housing crisis.

In an exclusive interview with Weekend Hope,  a prominent cement distributor in Oba-Ile area, Akure, Mr. Thompson Aloba, explained that the surge in cement prices is largely driven by the escalating cost of energy, particularly diesel, which plays a critical role in cement production.

According to Aloba, the escalating price of diesel has had a ripple effect on production costs, leading to frequent halts in manufacturing and disrupting supply chains.

Aloba further stressed that the demand for cement, fuelled by the government’s infrastructure initiatives and increasing budget allocations for essential sectors, has stretched the nation’s cement production capacity to its limits.

“Rapid urbanisation is outpacing production capacity,” Aloba observed, pointing out that this mismatch has led to a severe supply shortage, with prices now ranging from ₦9,000 to N11,500 per 50kg bag, depending on brand, location, and season.

Aloba warned that the rising cost of cement could worsen Nigeria’s growing housing deficit, with developers potentially compromising on safety and quality to reduce costs.

Similarly, Mrs. Ajibade Oluwaseyi, a cement dealer, expressed frustration over plummeting sales since the price hike. Despite offering cement at N10,500 lower than the N11,000 to N11,500 prices charged by competitors.

“The sales have been dismal, People can’t afford to buy cement anymore. The government must intervene to alleviate the suffering,” she lamented.

She called on the government to take immediate action to provide relief to the public, whose livelihoods have been severely impacted by the sharp increase in construction costs.

Meanwhile, site engineers have raised their voices in protest, revealing that the ongoing cement price surge has led to widespread delays and abandonment of construction projects.

Engineer Edwin Ayodele, a site supervisor, painted a grim picture of the situation, lamenting that many project owners are now unable to afford to continue building due to the high cost of cement.

“The level of hardship is unbearable. People are struggling just to afford food, let alone continue their building projects. The latest price increase has effectively put almost every project on hold,” Ayodele said

He stated that out of six projects he currently supervises, only one is still ongoing, albeit at a significantly slower pace, while the others have been abandoned due to lack of funds.