Cost of building a block of 6 two-bedroom flats in Ibadan - Akobo (2026)
Estimated for Ibadan - Akobo, Oyo (612 m² floor area) using current material prices and local labour rates.
Cost breakdown
| Element | Share | Cost |
|---|---|---|
| Foundation | 5.9% | ₦10,873,696 |
| Structure | 25.5% | ₦47,017,177 |
| Finishes | 38.3% | ₦70,666,448 |
| Services | 15.4% | ₦28,317,509 |
| External Works | 3.9% | ₦7,236,383 |
| Prelims & Contingency | 10.9% | ₦20,179,344 |
| Total | 100% | ₦184,290,557 |
Materials you'll need
| Material | Approx. quantity | Cost at today's prices |
|---|---|---|
| Cement (50kg bags) | 1,962 bags | ₦25,115,776 |
| Sandcrete blocks (6" & 9") | 12,764 blocks | ₦11,487,951 |
| Iron rods | 12.8 tonnes | ₦10,248,000 |
| Sharp sand | 357 tonnes | ₦4,646,460 |
| Granite | 231 tonnes | ₦4,619,600 |
Construction timeline (14 months)
| Phase | Months | Cost |
|---|---|---|
| Site preparation | 1–1 | ₦2.9M |
| Foundation | 1–3 | ₦10.9M |
| Structure | 3–7 | ₦40.6M |
| Roofing | 7–9 | ₦6.4M |
| Services 1st fix | 8–9 | ₦12.7M |
| Plastering & screeding | 9–11 | ₦14.1M |
| Interior finishes | 10–13 | ₦56.5M |
| Services 2nd fix | 13–14 | ₦15.6M |
| External works | 12–14 | ₦7.2M |
| Snagging & handover | 14–14 | ₦17.3M |
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Frequently asked questions
How much does it cost to build a block of 6 two-bedroom flats in Ibadan - Akobo?
About ₦184.3M with standard finishing, ₦129.7M basic and ₦337.7M luxury (2026 prices).
How long does it take to build a block of 6 two-bedroom flats?
About 14 months with steady funding.
How many bags of cement does a block of 6 two-bedroom flats need?
Roughly 1,962 bags of 50kg cement.
Read more: Block of 6 two-bedroom flats costs across Nigeria · 12 ways to reduce building cost
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