FCCPC investigates Nigerian cement manufacturers over price manipulation

The Federal Competition and Consumer Protection Commission (FCCPC) has launched a formal investigation into major cement manufacturers regarding suspected price manipulation in Nigeria.

A 40-page report from the FCCPC’s Anti-competitive Practices Department revealed a significant discrepancy between supply and pricing. While Nigeria produces an annual surplus of 60–65 million metric tonnes against a domestic demand of only 25–30 million tonnes, retail prices have continued to rise.

Data shows that the price for a 50kg bag of cement surged from approximately ₦9,300–₦9,700 in January 2026 to between ₦13,000 and ₦15,000 by mid-year. While producers have attributed high costs to logistics, energy, and foreign exchange rates, the investigation seeks to address why prices are climbing despite production capacity greatly exceeding consumption.