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Truth is, we’re going to focus on the most construction materials in order to give you a preamble of what to expect as you plan to kick-start your building project.
For several months now, our team has observed that the minimum starting fund we often recommend to our clients could no longer achieve the tasks it used to.
Before now, we did recommend you budget some 2 Million Naira if you were planning to build a 2 bedroom flat for your small family.
With this 2 Million Naira, we’re sure your 4000 blocks, Sand and a few bags of cement, Including granite would be bought and supplied for our use on site.
So here are a few materials whose price has more than doubled over the last one year.
Prices of Most Important Construction Materials
Cement
Perhaps one of the most important materials used in construction. A 50Kg bag of denote cement used to sell as low as 2100 during the rainy season when demand was low and at the peak demand periods, we bought this same bag with 2350 or 2400.
But today, a bag of cement sells almost 4400 per bag and this has its effect on the way people build today. Truth is, people don’t just build anymore. It takes a lot of planning before kick-starting a construction project.
Water
I’m very familiar with Delta state and it’s rich water environment. This does not include areas like Agbor and Asaba who’re known for their deep water table which makes it almost impossible for earth wells to be sunk in these areas.
Now the price for water has increased also. This is because where petrol is needed to power pumps, the cost of this petrol and that if hiring the power generating sets is often higher than it used to be.
On the other hand, we used to have manual laborer who fetches water. Because of the high cost of feeding and living, these people don’t accept the usual 2000 as they used to be paid before now.
Reinforcement Bars
Over the last 1 year, the price of reinforcement bars has witnessed just a little change. It’s really baffling why cement would witness a 100% increase while it’s counterpart, reinforcement bars had just a few changes in price.
Before now, a 12mm reinforcement bar used to sell for 2
4250. But currently, this goes for some 4600 per length. That’s just some NGN 350 increase.
Tiles and Tilers
As you know. the average man now wants to live in a flat with tiles all over. From the kitchen walls to the entire floor of the flat has to be tiled for it to at least be acceptable to most Nigeria Renters including the Author.
This is why the average price of a carton of tiles has gone up too.
Well, it is not just the tiles, the professional installing the tiles also charges enough to enable him fend for himself and family and if possible, save some for the future.
Workmanship On Construction Site
When we talk about construction costs, it’ll be very incomplete to ignore the various monies paid to workmen, laborer as well as that paid for site supervision. These ranges from loaders, to foremen, even those we feel their fees are inconsequential are now charging so much for their daily work.
Bricklayer
It might shock you to know that the amount charged by bricklayers has doubled also. While a bricklayer charged some NGN 410 per square meters in time past, the current is a double load or nothing.
Most bricklayer would charge nothing less than NGN 80 to lay a 6 inch block for you.
Their reason is that they’ll spend same money they earn buying foodstuffs. Of course, we all know Nigeria has witnessed a series of inflation over the last 2 years. Since these workmen live in the same country, they’ll feed house and clothe and their livelihood? Your construction site, so they must charge enough to help them sort their daily needs.
Carpenters
Of course, no building construction project is ever complete without the hands of an experienced Carpenter. We need them when putting one or more formworks together, when we work on slabs (Decking), beams and columns, arch, etc. But then again, the cost of hiring these men have increased over the last 1 year because of the state of the economy. W e also need carpenters when we install Wooden Windows, roofs, doors and furniture needed in the home (Bed, cushions, kitchen cabinets, wardrobes, etc)
Logistics
Whether you’re buying Construction materials or faring yourself and your workforce to a construction site on a daily basis, there is always some cost involved. Its either you’re spending on petrol or you’re paying some heavy fares to drivers who convey your construction materials and equipment to site. We know that in most cities around the federation, the average cost per liter of petrol has almost tripled since the last 1 year.
Based on the various factors mentioned above, i hope you now have a better understanding of why the cost of construction is on the rise in Nigeria?
Please feel free to add whatever you feel we may have skipped as this would help us and others learn more too
