FCCPC investigates cement price manipulation in Nigeria

The Federal Competition and Consumer Protection Commission (FCCPC) has identified potential price manipulation within the Nigerian cement market. Following a three-month cross-border study by the commission’s Anticompetitive Practices Department, a 40-page report suggests that despite substantial limestone deposits and reported surplus production capacity, cement prices remain high, impacting construction and infrastructure costs.

Separately, the FCCPC has issued a warning to the bakery and confectionery sector regarding rising input costs. Executive Vice Chairman Tunji Bello stated that businesses must not use economic pressures as a justification to compromise product quality, hygiene, or safety. The commission emphasized that operators are prohibited from using unsafe substitutes, prohibited additives, or manipulated expiry information, noting that consumers should not serve as shock absorbers for producer difficulties.