Ex-RECAN President Urges Tinubu to Declare Emergency on Building Material Costs
Former Real Estate Developers Association of Nigeria president Aliyu Wammako has urged President Bola Tinubu to declare a state of emergency on the soaring cost of building materials, arguing that rising rents are a symptom, not the cause. He spoke in a statement issued Thursday, July 30, 2026, noting that cement now approaches ₦13,000 per bag, steel and roofing prices climb daily, and daily wages for artisans have doubled from about ₦4,000 to ₦8,000 or more. Wammako said developers cannot recoup investments if construction costs keep rising, pushing rents upward. He urged the government to focus on lowering material costs, improving access to long‑term finance, boosting local manufacturing, cutting energy and transport expenses, and crafting policies that encourage affordable housing supply. While acknowledging existing federal housing programmes and Lagos State’s billions‑naira investment in affordable homes, he warned that measures targeting rent alone would discourage private investment. "Developers are partners in solving Nigeria’s housing deficit," he said, adding that making building cheaper is the surest path to lower rents. The call comes as house rents continue to surge across Nigeria, leaving millions struggling to afford decent accommodation.