By Aaron Ossai
The House of Representatives in a move to check the rising cost of building materials in Nigeria has urged the federal government through the Ministry of Housing and Urban Development to carry out thorough investigation of persistent rise in prices of building materials nationwide.
Adopting a motion moved by Hon. Oboku Abonsizibe Oforji, the House said the decision was to identify possible anti-competitive practices, market distortions, supply chain inefficiencies, and other factors contributing to the increase despite the local availability of raw materials.
It also urged the federal government to ensure that the Federal Ministry of Industry, Trade and Investment, and Federal Competition and Consumer Protection Commission, FCCPC are part of the investigation.
The House further resolved to set up an Ad–hoc Committee to conduct a comprehensive investigation into the action.
Leading debate on the general principles of the motion, Hon Oforji noted that Nigeria possesses abundant raw materials such as limestone, sand, granite, and timber used in the production of building materials.
He also noted that the construction sector is a major driver of economic growth, with the industry valued at over N25.7 trillion in 2025 and projected to grow steadily in the coming years.
The lawmaker expressed concern that the price of a 50kg bag of cement has risen sharply from about N7,500 in late 2025 to between N11,500 and N12,100 in 2026, representing an increase of approximately 50%- 60% within a short period.
He said the House is also concerned that within the same period, prices of steel have increased by about 20%, Sharp sand by about 25% and other materials such as granite and timber have also recorded significant increases.
That the House is alarmed that over a longer period, the price of cement in Nigeria has increased by more than 300% since 2019, rising from about N2,400-N3,000 to as high as N11,500- N12,100 per bag.
He expressed worry that Nigeria’s housing deficit has grown to approximately 28 million units, and the rising cost of building materials is worsening access to affordable housing, leading to abandonment of construction projects, Escalation of rent and property prices, increased cost of government infrastructure projects, Loss of jobs across the construction value chain.
Speaking further, the lawmaker said it’s disturbing that despite local sourcing of key raw materials, Nigerians continue to face disproportionately high construction costs, suggesting inefficiencies, market distortions, or possible exploitation within the value chain as this trend is exacerbating the housing deficit and placing additional economic pressure on citizens, especially low and middle-income earners.
After a robust debate on the general principles of the motion, majority of members at plenary unanimously adopted its prayers.
