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Nigeria Building Materials Market Information and Demand Release

05-26

Nigeria currently has a population of 201 million, maintaining an average annual economic growth rate of 6.8% over the past decade. It is one of the fastest-growing economies globally and one of the world's fastest-urbanizing countries. According to Nigeria's Business Daily, there was a housing shortage of approximately 17 million units in 2018. It is expected that Nigeria's construction industry will experience even higher growth rates by 2020.

Nigeria—A Hot Spot for Building Materials Market

1. The Nigerian government is heavily investing in infrastructure development

As early as 2014, Nigeria launched the National Integrated Infrastructure Master Plan (NIIMP 2014-2043). This plan, developed by the Nigerian Federal Government, aims to address Nigeria's significant infrastructure gap over 30 years, starting in 2014, to ensure sustainable economic development. The total estimated investment is approximately US$2.9 trillion, jointly funded by the federal government, state governments, and the private sector. Currently under construction are roads, urban rail transit, and ports.

In February 2019, the Federal Executive Council (FEC) approved the National Public Building Maintenance Plan. This project will significantly increase the demand for building materials such as timber, pipes, paint, tiles, electrical fittings, doors, windows, and hardware tools.

2. Most building materials in Nigeria rely on imports

Nigeria's booming construction industry has created a huge demand for building materials. However, Nigeria's construction industry is underdeveloped, accounting for only 3.2% of GDP, far from meeting domestic housing and building materials needs. The vast majority still rely on imports. It is expected that the construction industry will see even higher growth rates between now and 2020.

3. Supply of building materials cannot meet demand, leading to price increases

Nigeria's current construction industry is valued at approximately US$69 billion. However, the local building materials market is in its early stages of development and lacks international suppliers, resulting in a shortage of domestic building materials and soaring prices. Price increases for cement, roofing materials, and aluminum roofing range from 61% to 138%, with significant increases in other materials such as paints and sockets.

The types, quality, and prices of Chinese building materials are very suitable for the African market. The African hardware and building materials market not only has a large demand but also high profit margins. For example, small hardware building materials that cost RMB 1 in China can sell for nearly US$1 in Nigeria. In the Nigerian building materials market, domestically produced security doors that cost only RMB 900-1500 can sell for US$850 locally.

Local Building Materials Market

Odun-Ade/Agric Market

These two markets are wholesale and retail markets for building materials such as tiles, cement, paint, sanitary ware, roof tiles, panels, and wooden doors. They also sell hardware tools related to construction and decoration. The two markets are not far apart, both located on the same street. They are open all year round except on Sundays and Nigerian public holidays.

Address: Odun-Ade, Lagos - Badagry Expy, Lagos, Nigeria

Ladipo Building Materials Market

Ladipo Building Materials Market is a wholesale market for building materials such as panels, lime cement, paint, cement bricks, and asbestos tiles.

Address: Ladipo Building Materials Market, Iganmu Rd, Amukoko, Ajeromi Ifelodun, Lagos, Nigeria

Popular Chinese Building Materials in Nigeria

Hardware: Faucets, valves, ball valves;

Doors and Windows: Security doors, shutters, aluminum profiles, rolling door machines;

Flooring: Other medium-density fiberboard (HS:4411), ceramic tiles (small-sized antique ceramic tiles in various colors);

Kitchen and Bathroom: Ceramic sanitary ware, bathroom cabinets;

Ceiling: Fireproof decorative boards, aluminum alloy boards.

Tiles

Exchange Rate: 1 RMB = 54.7536 Nigerian Naira (May 25, 2020)

Tiles

Reference Price for Roofing Thin Aluminum Sheets:

0.45mm: N1150-N1700

0.55mm: N1900-N2200

0.70mm: N2400-N2600

0.90mm: N2700-N3100

Long span Aluminium sheet

0.55mm Long Aluminum Sheet: N1650/meter

0.45mm Long Aluminum Sheet: N1250/meter

Step-shaped Aluminum Tiles

0.55mm: N1800/meter

0.45mm: N1400/meter

Metcoppo Aluminum Tiles

0.55mm: N1850/meter

0.45mm: N1450/meter

Milano 0.55mm: N2,600/square meter

Wooden shake design

0.55mm: N2,600/square meter

Bond design

0.55mm: N2,450/square meter

Roman design

0.55mm: N2,600/square meter

Shingle design

0.55mm: N2,600/square meter

PVC ceilings

PVC Ceiling: N2,000-25,000/bundle

Doors and Windows

Casement window

600x600mm Aluminum-plated Doors and Windows: N7,000-8,000

600X600mm Copper-plated Doors and Windows: N7,000-8,000

600x750mm Copper-plated Doors and Windows: N9,000-10,500

Sliding windows

600x600mm Aluminum plated doors and windows: N4,000-5,500

600X600mm Copper-plated Doors and Windows: N7,000-8,000

600x750mm Copper plated doors and windows: N7,000-8,000

Fixed windows: Fixed windows

600x600mm Aluminum plated doors and windows: N3,500-5,000

600X600mm Copper plated doors and windows: N6,500-8,000

600x750mm Copper plated doors and windows: N7,000-8,000

louvre windows: Louvre windows

750x750mm : N1,800

1500X1200mm : N8,000

1800x1200mm : N10,000

Aluminum louvre strips:

25mm wide strips: N4,500-6000/per square meter

50mm wide strips: N6,000-7,500/per square meter

Wooden louvre strips:

25mm wide strips: N10,500-12,000/per square meter

50mm wide strips: N11,000-13,000/per square meter

Chinese doors are among the most popular doors in Nigeria. Over the years, Chinese door manufacturing companies have been at the top of the industry in Nigeria. Easily available and relatively inexpensive, 'made in China' doors have become a favorite among Nigerians.

Doors

Low-density plywood doors: N5,000-6000

High-density plywood doors: N9,000-11,000

Single metal security doors: N20,000-25,000

Double metal security doors: N25,000-35,000

Single doors imported from China: N12,000-18,000

Double doors imported from China: N30,000-40,000

Doors imported from Turkey: N25,000-30,000

Imported double security doors: N50,000-60,000

Locally produced furniture doors in Nigeria: N6,000-8,000

Traditional Chinese wooden doors: N30,000-N50,000

6 feet Watson Times doors: N60,000-N90,000