FCCPC Investigates Possible Cement Price Manipulation

The Federal Competition and Consumer Protection Commission (FCCPC) has conducted an industry-wide investigation suggesting possible manipulation of cement prices in Nigeria. This preliminary finding is based on a 40-page report from a three-month study by the Commission's Anticompetitive Practices Department, initiated due to public complaints about high cement costs.

The investigation revealed that major cement manufacturers cooperated, except for one, and that three companies dominate over 90% of the market's production capacity. The FCCPC's analysis included comparisons with countries like Kenya, Tanzania, and Togo, highlighting that Nigeria's retail price for a 50kg bag of cement rose from N9,300-N9,700 in January 2026 to between N13,000 and N15,000 by July 2026.

Despite Nigeria's installed production capacity exceeding 60-65 million metric tonnes annually, domestic prices have not decreased as expected, raising concerns about market competitiveness.