Adekunle Ebenezer, a Quantity Surveyor with Anchor University, Lagos, has revealed that building materials are responsible for 50-65% of the escalating construction costs.
Speaking in Lagos, Ebenezer highlighted that the surge in material prices is pushing developers to transfer these costs onto buyers.
Ebenezer voiced concerns over the growing number of unsustainable buildings in Nigeria, emphasizing the need for a more comprehensive approach to selecting building materials.
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He noted, “As the cost of building materials rises, so does the overall construction cost. Developers and investors aim to recover their capital and profit quickly, leading to higher rental and sales prices.”
He stressed that material choices should consider not only economic factors but also environmental and social impacts. Sustainable building materials, often imported, come with high costs due to importation.
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Furthermore, the lack of local production technology and the current energy crisis complicate the manufacturing of these materials.
Ebenezer cautioned that the reliance on cheaper alternatives might result in a rise in substandard housing, worsening Nigeria’s housing challenges