FCCPC Investigates Cement Price Manipulation in Nigeria

The Federal Competition and Consumer Protection Commission (FCCPC) announced a new investigation into the Nigerian cement market on [date not specified], prompted by preliminary findings indicating potential price manipulation despite significant domestic production capacity and excess supply. The FCCPC's three-month cross-border investigation revealed grounds to assess whether current cement prices are influenced by legitimate production costs or anti-competitive behavior among key industry players.

This investigation, led by the FCCPC's Anticompetitive Practices Department (ACP), is based on a comprehensive 40-page report covering Nigeria and selected Sub-Saharan and North African cement markets. FCCPC Executive Vice Chairman/Chief Executive, Mr. Tunji Bello, emphasized the importance of cement in the economy, affecting housing, commercial development, and public infrastructure costs.

He clarified that the investigation aims to ensure competitive market operation rather than dictate manufacturers' commercial decisions. The FCCPC noted Nigeria's installed cement production capacity is approximately 65 million metric tons.