Worried by the rising prices of building materials and their effect on the cost of putting up houses, experts in the sector have urged the Federal Government to intervene in order to stem the tide.

Managing Director, Brick House Construction Company Limited, Mr Olasubomi Odunsi in a chart with Daily Sun lamented the wave of increasing cost of building materials, especially cement, gravel, sand and granite.
According to him, the increase was artificial and stressed that the rise in the cost of building materials was not a good omen for the construction industry.

Odunsi pointed out that the increase would have negative impact on construction, adding that the cost of erecting a structure would go up.

His words: “It is obvious that the rising cost of building materials nationwide would have an effect on the construction of a building because, if you take into consideration the cost of finishing your building and you transfer the cost cum marginal profit to the buyer, the tendency for the cost of such an edifice to go up cannot be overlooked. This would scare away a prospective buyer.”

The chief executive noted that the way forward was for government to intervene and bring down the price of building materials, even as he submitted that the production output of major manufacturers in the country could not match the consumption of the commodity.

He queried the situation whereby major materials needed for cement, such as limestone gypsum, gravel and sand are in abundance in parts of the country and yet the commodity is scarce and expensive.
Odunsi, said that the solution to the problem was technology stressing the most of the countries we import the commodity like the cement from do not have limestone, the major raw materials for the production of cement.

He stated that government should provide the needed environment, adding that the environment in the country was not conducive for production, which he said was higher than importation.
Mr Jean Abboud, Managing Director Le Roche Equipment Nigeria Limited, a building contractor and architectural designer, said it is high time the nation reduced her dependence on cement for construction by making use of other locally made products utilizing limited quantity of cement. He added that there was yet no alternative for cement in the country

Speaking in similar vein, Mr Akin Aina, Managing Director, Jimmy & Associates, noted with regret the latest increase in the cost of building materials.
Aina said that this development was worrisome and should be nipped in the bud.
The chief executive added that the trend was not good for the construction sub-sector of the economy, pointing out that the real estate sector would surely suffer for this phenomenon.

He further added that the trend was a recent phenomenon which he believed would come to pass.
According to him, unless the Federal Government intervene to remedy the situation, the cost of putting up building would continue to elude the masses.
Mr Coker Ayeteso, Lagos Building Investment Company Limited said that the rising cost of building materials would have a telling effect on the real estate sector.
He said that though the development was worrisome, government’s intervention would surely go a long way in addressing the situation.

He expressed optimism that the trend would soon be a thing of the past, “if all hands are on deck.”
Mr Salami Adekunle a dealer said that a tipper-load of granite sells for between N30,000 and N32,000 while tipper load of sand is between N17,000 and N15,000, depending on the area. Cement is sold at N1,320 and N1,550.

The general consensus is that the increase in the cost of building materials should be urgently addressed by both the government and all stakeholders in the construction industry.
A reduction in the cost of building materials would surely create more avenues for home ownership by all and sundry.