Cement Hits N8,800 As Cost Of Building Materials Skyrockets

High cost of building materials in the country is currently affecting activities in the property sector, posing a huge challenge to the government’s quest for affordable housing.

It has also affected private property developers as many of them have slowed down on construction, while individuals craving to build their houses through direct labour are also complaining.

Also, suppliers of building materials said their capitals have depleted and wares shrank in shops and stores due to uncertain market forces.

Dinosaurs Spine at Hang Dong, Ta Xua, Son La seen from above

Market survey by Daily Trust revealed that prices of building materials have increased astronomically by about 100 per cent amidst rising inflation and inadequate energy supply.

The situation has caused disruptions in the construction industry, posing significant challenges to large-scale developers and homeowners. DailyTrust