Homeowners, builders, and tenants across Nigeria are decrying the sustained hike in cement prices, ranging from ₦9,500 to ₦12,000 per 50 kg bag, despite pledges by major manufacturers like Dangote and BUA to reduce costs in support of President Bola Tinubu’s housing agenda.
In March 2025, when the price of cement tumbled to ₦7,800 (down from a whopping ₦15,000 in February 2024), Nigerians hoped for lasting relief.
Cement giants vowed further reductions in May 2025; however, prices remain stubbornly high, with recent findings showing a spike of between 28% and 53% in Abuja and elsewhere.
A concerned stakeholder, Benjamin Udoka, questioned the inconsistency during an interview with the Daily Post.
He said, “It is painful that Dangote did not replicate his supposed fuel reduction strategy in the cement sector. In some parts of Abuja, a 50 kg bag of cement goes for as much as ₦11,000. It is pathetic.”
He called for government-imposed price controls, warning of unbearable rent hikes.
Maryam Abubakar from Dawaki echoed the sentiment, emphasising the hardship borne by middle-income households.
Although Nigeria’s headline inflation dipped to 22.97% in May 2025, and food price inflation softened, housing remains expensive.
Reports are that in Abuja’s Gwarimpa, a one-bedroom self-contained flat now rents for about ₦1.5 million/year, up from ₦700,000 previously.
The 3,112-unit housing project led by Housing Minister Ahmed Musa Dangiwa, launched in February 2024, has made no visible progress.
Meanwhile, a Senate resolution to investigate cement price hikes since 2024 has stalled, leaving millions caught between high material costs and soaring rent.
Without swift intervention, the dream of affordable housing under the “Renewed Hope Agenda” risks collapsing under the weight of market failure.
