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Current Cost Of Building A House In Nigeria

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Cost Of Building A House In Nigeria

Building a house in Nigeria is a dream of every individual as accommodation issue continue to be the problem of the teaming population in the country, despite the harsh economy condition of the country, Every citizens still thinks of how to get one Especially when you don’t have at all.

Experts advice that Nigeria need to invest a minimum of $60 billion dollars for new housing units every year to reduce housing shortage in the country.

Overtime, a lot of people are searching the internet trying to know the cost of building a house in Nigeria and a lot of publishers has been writing about this same topic trying to simply the cost of building a House in Nigeria as simply as possible.

However, while considering the cost of building a house in Nigeria, there is a lost of factors and things to consider which will be consider on this post. please read keenly as i decipher further.

Cost Of Building A House In Nigeria

How much will you have to spend to build a house in Nigeria? This question does not have any specific answer.

The answer depends on so many factors which are listed below;

  • Location Of Your Site
  • Cost of getting a landed property
  • Land Topography
  • Type of house.
  • Availability and cost of building materials
  • Cost of Labour:
  • Time of building

The current cost of building a house in Nigeria is up by about 45% to 55% compared to how it was in 2014/2015.
Iron Rods have increased by over a 90%, Cement increased with about 40%, Blocks saw an increase of about 25%, Sand and gravels 25% Cost of borehole and soak away increased with about 50% and many others.

Cost Of Building A House In Various Part Of Nigeria

The cost of building a house is dependent on many factors which was mention above and will be decipher below;

State or Location Of Your Site

The location at which your building will be sited is the major determinant of the building cost in Nigeria. If the land is swampy i.e. Lekki, Festac Town the cost of constructing a foundation will be greatly affected, Raft or pile foundation will be applied in this case. But where you’ve a hard or dry land i.e. Abuja, Jos and other Northern States the cost of construction is less.

Note That: In Nigeria, a plot of which can house a 3-5 bedroom flat can go for as low as ₦250,000 to as high as ₦65 million depending on the location and other factors which is considered on this post. Lands in the northern part of the country are very cheaper than the southern part of Nigeria.

Cost Of Buying A Land

The very first step you take when building in any part of the world is to secure a land either you buy or you hire, let’s come back to the case of Nigeria, in Nigeria you must acquire a land first before thinking of the cost of raising a building on the land that aside, the cost of land are determined by number of factors ranging from the location to seller, it’s possible to acquire the same plot of land in the same area with different among depending on the time and the seller

Type of Building

What type/kind of building are you opting for? Most good things in life are expensive. If you opt for an exclusive and beautiful house design, you’ll discover that even from the architect’s desk your bill is already high. Furthermore, Commercial and Public buildings such as markets and hospitals are more expensive to construct compared to residential buildings. Although this may not apply in all cases.

Cost of Labour

Whichever way you wish to classify them, Skilled (carpenters, bricklayers), Unskilled(site security) and Professional (builders, architects, and Civil Engineers) are all laborers. The cost of labor differs from place to place. However, labor is mobile. You can decide to move cheap labor to your site using cheap pricing mechanism.

Cost of Building Materials

This is directly proportional to the cost of building. When cost of material increases, cost of erecting a building also increases.
Cement sold for #1200 in 2015 was sold for #2400 in 2016 and the same cement is sold #2600 in 2020.

Say you needed 100bags as at 2015 and you postponed the project to 2016 or 2020. Guess what? In 2020 youwill have to buy 100bags for #240000 or #260,000 instead of #120000 as of 2015.

Time of building

The season of the year which you decide to embark on your building project will affect your building cost. Raining seasons are more expensive to build. Poor weather forecasting can lead to waste of materials.

Cost Of Building A House In Nigeria

There are many more factors which are not listed here such as

  • Building approval
  • logistics
  • Architectural drawings.
  • Structural drawings.
  • Mechanical drawings.
  • Electrical drawings.

Conclusion

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