FCCPC Investigates Nigerian Cement Producers for Price Manipulation

The Federal Competition and Consumer Protection Commission (FCCPC) has launched an investigation into Nigeria's cement industry to determine if producers are manipulating prices and engaging in anti-competitive practices. The probe follows a three-month cross-border study by the commission's Anticompetitive Practices Department, which found that retail prices for 50kg bags of cement rose from N9,300–N9,700 in January 2026 to between N13,000 and N15,000 by July.

Investigators noted that Nigerian prices are significantly higher than those in Kenya, Tanzania, and Togo. This trend persists despite Nigeria possessing abundant limestone deposits and an installed production capacity of 60–65 million metric tonnes, which is roughly double the domestic consumption of 25–30 million metric tonnes. The FCCPC has issued summons to key industry players, including Dangote Cement Plc, BUA Cement Plc, and HMB Nigeria Plc, who together control over 90 percent of the market. While most manufacturers cooperated, one unnamed company has reportedly refused to provide records.

Cement producers attribute the price hikes to naira depreciation, energy costs, and logistics expenses. The commission is currently testing these claims against production data to identify potential abuse of market power or coordinated conduct. Additionally, some business leaders and economists suggest that taxation and poor road infrastructure may be contributing factors to the rising costs.