An industry-wide investigation by the Federal Competition and Consumer Protection Commission (FCCPC) has revealed possible price manipulation within Nigeria’s cement market, noting that retail prices in the country remain higher than in several other African nations despite Nigeria’s large production capacity and extensive limestone deposits.
In a statement signed by FCCPC Director of Corporate Affairs Ondaje Ijagwu, the commission disclosed that its Anticompetitive Practices Department conducted a comprehensive three-month cross-border study comparing Nigeria’s cement sector with those of Kenya, Togo, Tanzania, South Africa, Egypt, Morocco, and Algeria.
The study evaluated critical variables, including raw material availability, local demand, overall manufacturing capacity, and final retail pricing.
The preliminary 40-page report concluded that prevailing local retail prices cannot be fully justified by standard market conditions or production input costs.
The findings showed that consumers in countries like Kenya and Togo purchase cement at noticeably lower rates, prompting the consumer protection agency to launch a deeper probe into potential anti-competitive practices, market distortion, and oligopolistic pricing coordination among major domestic manufacturers.
