FCCPC probes cement price manipulation

The Nigeria — Federal Competition and Consumer Protection Commission (FCCPC) has launched an investigation into possible price manipulation and anti-competitive practices in Nigeria's cement market. Preliminary findings from a three-month cross-border study, detailed in a 40-page field report, indicate that cement prices in Nigeria are significantly higher than in comparable African markets despite the country's substantial limestone deposits, large installed production capacity (60-65 million metric tonnes annually) and domestic consumption of only 25-30 million metric tonnes. Retail prices for a 50kg bag of cement rose from N9,300-N9,700 in January 2026 to N13,000-N15,000 by July, while comparable prices were $5.40 (N7,344) in Kenya, $4.80 (N6,528) in Tanzania, and $6.75 (N9,180) in Togo. The FCCPC has issued notices and summonses to key industry players, requiring them to provide pricing, production, capacity, and commercial records. All major manufacturers cooperated except one. The investigation will determine whether prices are justified by legitimate costs or reflect coordinated conduct, abuse of market power, or other violations of the Federal Competition and Consumer Protection Act.