en.Wedoany.com Reported - The Real Estate Developers Association of Nigeria (REDAN) has warned that the surge in cement prices is approaching a housing crisis, threatening the nation's homeownership rate.

According to REDAN President Oba Akintoye Adeoye, the price of a 50kg bag of cement has skyrocketed from 7,500 naira (approximately $5.49) at the end of 2025 to between 11,500 naira (approximately $8.41) and 15,000 naira (approximately $10.97). The rapid price increase has severely disrupted construction projects, exacerbating the financial pressures developers already face in dealing with inflation and exchange rate fluctuations. Since cement determines overall construction costs, the current prices make housing supply unsustainable.

REDAN has urgently called on the federal government to intervene to stabilize the building materials value chain and protect ongoing projects.

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