Metal rod costs in Nigeria have surged sharply over the previous two years, with smaller sizes reminiscent of 10–16mm rods rising by as a lot as 210% from 2023 to 2025.
Bigger rods, reminiscent of 32mm, rose by round 175%, in accordance with a market survey carried out by Nairametrics.
Metal rods are a crucial part in constructing building, offering reinforcement and structural assist that ensures the soundness and security of constructions.
They’re extensively utilized in columns, beams, slabs, and foundations, the place they assist distribute hundreds and stop structural failure.
The dramatic worth will increase have pressured people and firms dealing with building initiatives to spend considerably extra on reinforcement, driving up general mission prices and, in some circumstances, prompting designers and contractors to rethink constructing plans to optimize materials use.
For instance, the value of 10 mm rods jumped from round N335,000 per tonne in 2023 to N1,040,000 in 2025.
Information snapshot
Market insights from sellers
Gboyega Adewale, a metal rod vendor at Maya Junction in Ikorodu, Lagos, defined to Nairametrics how fluctuations within the alternate fee and import dependency have formed metal rod costs over the previous two years.
- In line with him, “the comparatively low costs in 2023 mirrored a interval when the naira was being exchanged for round N500 to the US greenback.”
- He famous that the rise was very steep in 2024. “Costs for smaller rods, reminiscent of 10–16mm, soared from round N335,000 per tonne in 2023 to N1.3 million, whereas bigger rods, just like the 32mm dimension, jumped from N400,000 to N1.5 million,” he mentioned.
- Adewale defined that some metal rods are imported into the nation, that means that “the alternate fee instantly impacts their value.” The sudden surge pressured some folks dealing with building initiatives to carry on to their funds and wait to see how the alternate fee would stabilize earlier than committing purchases.
He added that since there was some stability in 2025, costs have dropped barely, with 10–16mm rods now promoting at N1.04 million per tonne. “I envisage that costs may fall additional if the naira maintains this stability,” he mentioned.
One other supply, merely recognized as Bisi, the proprietor of a Surulere-based skilled provider of constructing supplies, defined to Nairametrics that “whereas present costs in 2025 stay a lot increased than in 2023, demand has picked up once more, approaching near-optimal ranges as contractors and mission managers resume procurement.”
Insights from building consultants
Babatunji Adegoke, a civil engineer, defined to Nairametrics that regardless of the hovering value of metal rods, engineers typically keep their customary utilization as a result of they’re educated to handle supplies effectively.
He famous that “even with the rising value, engineers don’t drastically change their utilization of metal rods as a result of effectivity is constructed into our design strategy.” In initiatives with tighter budgets, engineers could also be required to make use of out there supplies much more rigorously, guaranteeing that each rod is used successfully with out compromising the structural security of the constructing.
Adegoke added that “whereas options reminiscent of bamboo, fibre composites, and even shells of sea animals exist, metal rods stay essentially the most extensively used reinforcement materials throughout Nigeria and globally.”
Architect Uko Akpan additionally shared his perspective, noting that the sharp spike in metal rod costs in 2024 led many purchasers to ask whether or not their constructing plans might be redesigned to scale back prices.
He defined that designers can optimize materials utilization by adjusting parts that demand extra reinforcement, reminiscent of extra structural options, cantilevers, and extrusions, with out affecting the integrity of the constructing.
Akpan mentioned, “It’s attainable to regulate design parts that require extra reinforcement to optimize prices whereas sustaining structural security,” including that “shoppers usually search recommendation on redesigning plans in periods of fabric worth surges.”
Macroeconomic components
The value of metal rods in Nigeria is carefully linked to broader macroeconomic situations, notably inflation and alternate fee tendencies.
Nigeria’s inflation fee, which hit a report excessive of 21.82% in January 2023, contributed to rising prices throughout the development sector. Though the headline inflation fee slowed to 18.02% in September 2025, down from 20.12% in August, the excessive value of imported supplies—reminiscent of metal rods—continues to exert stress on mission budgets.
Metal rods, being partly imported, stay delicate to alternate fee fluctuations. The interval of sharp depreciation in 2024 drove costs to report highs, whereas the relative stability of the naira in 2025 has helped reasonable costs barely. If the forex maintains this stability, there’s potential for additional reductions in metal rod prices.
Total, the present stability of the naira is offering a window for building prices to reasonable, however the lingering results of excessive inflation and prior alternate fee volatility imply that metal rod costs stay elevated in comparison with pre-2024 ranges.
What this implies
The surge in metal rod costs has vital implications for people and firms dealing with building initiatives.
- Greater reinforcement prices instantly improve general mission bills, doubtlessly delaying timelines or forcing changes to mission scope. Whereas engineers and designers can optimize designs to make use of supplies extra effectively, there’s a restrict to how a lot value will be mitigated with out affecting structural security.
- For customers and contractors, this highlights the significance of planning for materials worth volatility and contemplating the broader macroeconomic context—reminiscent of inflation and forex stability—when budgeting for building initiatives.
The latest moderation in costs gives some aid, however the market stays delicate to alternate fee fluctuations, that means mission prices may nonetheless shift if macroeconomic situations change.
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