Building materials prices soar in Nigeria

A survey conducted by PM Property Guide, Lagos, at building materials markets in the state revealed that the price of almost every building material in the market has increased. Badly hit are products like cement, iron rods, ceramic tiles, etc.

A bag of 50kg cement which was sold for N950 in August now goes for N1000. 50 tons of iron rods which was sold for N35,000 now costs between N40,000 and N42,000, a 6x6 ceramic which was sold for N500 now costs N600.