The Federal Competition and Consumer Protection Commission (FCCPC) announced that a recent industry-wide investigation indicated possible price manipulation in the Nigerian cement market.
This information was shared in a statement released on Tuesday by Ondaje Ijagwu, the Director of Corporate Affairs.
The statement explained that this development stemmed from a three-month cross-border study conducted by the commission’s Anticompetitive Practices Department (ACP).
Preliminary findings from the 40-page field reports suggested the presence of anti-competitive practices within the Nigerian cement sector.
The investigation was initiated due to numerous complaints regarding the escalating cost of cement, which is a crucial material in Nigeria’s construction industry.
The commission noted that there were concerns about the relatively high cement prices in Nigeria, despite the country’s rich limestone deposits, substantial domestic production capacity, and reported surplus installed capacity compared to local consumption.
The FCCPC mentioned that all major cement manufacturers cooperated with the investigation by supplying necessary records to help confirm the widespread suspicion of manipulation.
As part of the investigation, the commission analyzed cement markets in Kenya, Tanzania, South Africa, Egypt, Morocco, and Algeria.
The FCCPC took into account factors such as limestone availability, population, production capacity, and consumption in these countries.
The commission reported that a 50kg bag of cement costs approximately $5.40 (N7,344) in Nairobi, Kenya, and $4.80 (N6,528) in Tanzania, while in Togo, it is around $6.75 (N9,180).
In contrast, the FCCPC’s market intelligence revealed that cement prices in Nigeria saw a significant increase in the first half of 2026.
The Commission stated that a 50kg bag that was priced between N9,300 and N9,700 in January had risen to between N10,500 and N13,000 by mid-year.