FCCPC to probe alleged manipulation of cement prices

By Imisioluwa Afunmiso

The Federal Competition and Consumer Protection Commission (FCCPC) has commenced an investigation into an alleged price manipulation of Nigeria’s cement.

The Commission, in a preliminary 40-page report by its Anticompetitive Practices Department, said the probe followed widespread complaints over the rising cost of cement.

The FCCPC compared Nigeria’s cement market with those of Kenya, Tanzania, South Africa, Egypt, Morocco, Algeria and Togo, examining factors including limestone availability, production capacity and consumption.

It said a 50kg bag of cement in Nigeria rose from between N9,300 and N9,700 in January 2026 to between N13,000 and N15,000 in some areas by July.

The Commission noted that Nigeria has installed cement production capacity of over 60 million metric tonnes annually, compared with domestic consumption estimated at between 25 and 30 million tonnes.

According to the FCCPC, the substantial excess capacity has not resulted in lower prices, raising concerns about possible anti-competitive practices.

Industry operators have cited energy, transportation, logistics and the depreciation of the naira as factors responsible for the price increases.

However, the Commission said it is testing these explanations against verified cost and market data.

The FCCPC has consequently issued Notices of Commencement of Investigation and Summons to Produce to key players in the sector to determine whether cement prices are driven by legitimate market conditions or possible coordinated conduct, abuse of market power or other violations of the FCCPA.