Opaindex
Building Materials Cost Index
A construction contract-escalation reference for Nigeria — a fixed bill of core materials, re-priced at current tracked prices.
The Opaindex Building Materials Cost Index stands at 100.0, unchanged from its base of 100 on 26 June 2026. It re-prices a fixed reference bill of 5 core building materials — currently ₦3,075,000 — at today's tracked Nigerian prices (freshest reading 26 June 2026). Every unit price is a sourced, dated figure and the quantities are published below, so the index is fully reproducible.
- Index level
- 100.0
- Reference bill
- ₦3,075,000
- Materials
- 5
- Sources
- 5
All building material prices → · See all tracked prices → · How we source & verify these prices →
Key takeaways
- The index level is 100.0 — unchanged from its base of 100 on 26 June 2026.
- The fixed reference bill of 5 core materials costs ₦3,075,000 at current tracked prices (base-date cost ₦3,075,000).
- The level is the sum of tracked prices at published quantities ÷ the base-date bill × 100 — no figure is invented; each line links to its source.
- It is a contract-escalation reference, not an official statistic; quantities are stated openly so the index is fully reproducible.
The reference bill
Dearest line first. Each unit price links to its commodity page, where the source, “as of” date and confidence rating are shown. “vs base” is the change in that material's unit price since the index base date.
| Material | Quantity | Unit price | Line cost | Weight | vs base |
|---|---|---|---|---|---|
| Iron Rod (12mm rebar) per length · Steel merchant survey | 100 lengths (12mm) | ₦9,800 | ₦980,000 | 32% | — |
| Cement 50kg bag · Dealer survey (Lagos, Abuja, Kano) | 100 × 50kg bags | ₦9,500 | ₦950,000 | 31% | — |
| Aluminium Roofing Sheet (long-span, 0.55mm) per m² · Roofing dealer price list — Ideal Roofing & TopKen, Jun 2026 | 80 m² (long-span 0.55mm) | ₦7,500 | ₦600,000 | 20% | — |
| Sandcrete Block (9 inch) per block · Block industry survey | 500 blocks (9-inch) | ₦750 | ₦375,000 | 12% | — |
| Granite Chippings (3/4 inch) per tonne · Quarry & dealer survey — Prioni & Nigerian Price, 2026 | 20 tonnes (3/4-inch) | ₦8,500 | ₦170,000 | 6% | — |
| Reference bill total | ₦3,075,000 | 100% | — | ||
How we calculate this
Each line is its fixed quantity multiplied by the tracked unit price; the reference bill is the sum of the lines; the index level is that bill divided by its base-date cost, times 100 (base 100 on 26 June 2026). Every unit price is one of our tracked Nigerian prices, carrying its own source, “as of” date and confidence rating — so the index is pure arithmetic over numbers we already publish, not a fresh estimate.
The quantities are a fixed Opaindex reference bill of core structural materials (foundation, blockwork and roof), chosen to be round and stated openly so anyone can reproduce the index. They are a price-tracking instrument, not a bill of quantities for any specific building and not an engineering estimate of what a project needs. Re-pricing the same fixed bill over time is what makes the index a contract-escalation reference. This is not an official construction cost index. The index is dated to its freshest underlying figure (26 June 2026); see the methodology for how each price is sourced and verified.
/prices · Freshest reading
.
Building-material prices vary by brand, market and order size; these are sourced national/major-market references,
not depot quotes. See the
building material prices hub, the
Nigeria building materials report,
and the full commodity tracker.