FCCPC ESTABLISHES POSSIBLE MANIPULATION OF CEMENT PRICES IN NIGERIA

The Federal Competition and Consumer Protection Commission (FCCPC) says preliminary findings from a three-month investigation into Nigeria’s cement industry indicate possible manipulation of cement prices and other anti-competitive practices.  

The Commission said the investigation was prompted by complaints over the rising cost of cement, despite Nigeria’s substantial limestone deposits and installed production capacity of about 60–65 million metric tonnes annually, compared with domestic consumption of roughly 25–30 million tonnes.  

The FCCPC also compared Nigeria’s cement prices with markets in countries including Kenya, Tanzania, South Africa, Egypt, Morocco, Algeria and Togo, raising concerns about the relatively higher prices in Nigeria.  

The Commission has commenced further investigations and summoned key industry players to provide information on pricing, production, capacity utilisation, exports and commercial relationships. It says the process is aimed at determining whether current prices are justified by legitimate costs or reflect anti-competitive conduct.