Imported Inflation, FX, Weak Land Use Act Reforms Crippling Construction Sector – Valuers

Nigeria’s construction sector is under severe strain from soaring building material costs, scarce and expensive land, and a weak mortgage system, the Association of Capital Market Valuers (ACMV) has warned.
Speaking to LEADERSHIP, ACMV chairman, Chudi Ubosi, blamed the crisis on inflation and FX volatility, noting that Nigeria’s heavy dependence on imported materials means exchange rate spikes are immediately passed to builders.
He called for urgent reforms to the Land Use Act to make land cheaper and more accessible, alongside stronger patronage of local building materials.
Ubosi stressed that a functional mortgage industry and tailored financing from banks are critical to drive ho...