The Federal Competition and Consumer Protection Commission, FCCPC, says an industry-wide investigation it recently conducted suggested possible manipulation of prices of cement in the Nigerian market.
The commission disclosed this in a statement issued on Tuesday by its Director of Corporate Affairs, Ondaje Ijagwu.
The statement said the development followed a three-month cross-border study, which was conducted by the commission’s Anticompetitive Practices Department, ACP.
According to the statement, preliminary findings from the 40-page field reports indicated possible anti-competitive practices in the Nigerian cement industry.
The investigation was launched in response to widespread complaints over the rising cost of cement, a key commodity in Nigeria’s construction industry.
The commission said concerns had been raised over the relatively high price of cement in Nigeria despite the country’s abundant limestone deposits, significant domestic production capacity and reported surplus installed capacity compared with local consumption.
The FCCPC said all major cement manufacturers cooperated with the investigation by providing relevant records needed to establish the viral suspicion of manipulation.
As part of the investigation, the commission said it examined cement markets in Kenya, Tanzania, South Africa, Egypt, Morocco and Algeria.
FCCPC said it considered factors including limestone availability, population, production capacity and consumption in those countries.
The commission said a 50kg bag of cement sold for about $5.40 (N7,344) in Nairobi, Kenya, and $4.80 (N6,528) in Tanzania, while the price in Togo was about $6.75 (N9,180).
According to the FCPC, by comparison, market intelligence reviewed by the agency showed that cement prices in Nigeria increased significantly in the first half of 2026.
According to the Commission, a 50kg bag that sold for between N9,300 and N9,700 in January was selling for between N10,500 and N13,000 by mid-year, while prices in some parts of the country reached N13,000 to N15,000 by July.
The FCCPC said it had issued Notices of Commencement of Investigation and Summons to Produce to key players in the cement industry.
According to the commission, the companies are expected to provide information on their pricing methods, production levels, capacity utilisation, exports and relevant commercial relationships.
Reacting, the Executive Vice Chairman and Chief Executive Officer of the FCCPC, Tunji Bello, said the investigation was necessary because of the strategic importance of cement to the Nigerian economy.
Bello said the price of cement affects the cost of housing, commercial property development, public infrastructure and doing business generally.