FCCPC Investigates Cement Price Surge in Nigeria

The Federal Competition and Consumer Protection Commission (FCCPC) of Nigeria has launched an investigation into major cement manufacturers, including Dangote Cement, BUA Cement, and HBM (formerly Lafarge Africa), as the price of a 50kg bag of cement has surged beyond ₦15,000 in some areas. This action follows a three-month cross-border assessment that raised concerns about possible price manipulation and anti-competitive practices.

The FCCPC has issued formal Notices of Commencement of Investigation and Summons to Produce to these companies. Although the investigation is ongoing, no wrongdoing has been established yet.

Nigeria's cement industry has a production capacity of over 60 million to 65 million metric tonnes annually, while domestic consumption is only about 25 million to 30 million tonnes. The FCCPC is seeking detailed information on pricing methodologies, production levels, and commercial relationships, as industry operators cite rising costs and temporary scarcity as reasons for price increases.