The Federal Competition and Consumer Protection Commission (FCCPC) says preliminary findings from its investigation into Nigeria’s cement industry indicate possible manipulation of cement prices.
The findings are contained in a 40-page field report produced after a three-month cross-border study by the commission’s Anticompetitive Practices Department.
The investigation was launched following complaints over the rising cost of cement in Nigeria, with the FCCPC noting that the country has significant limestone deposits and substantial cement production capacity.
The commission said a 50kg bag of cement that sold for about N9,300–N9,700 in January 2026 was selling for N10,500–N13,000 by mid-year, with prices reaching N13,000–N15,000 in some areas by July.
The FCCPC also found that Nigeria has an estimated installed cement production capacity of more than 60–65 million metric tonnes annually, compared with domestic consumption of roughly 25–30 million tonnes.
Despite this excess capacity, the commission said cement prices have not fallen as would normally be expected in a competitive market. Nigeria is also a net exporter of cement to neighbouring countries.
The regulator said manufacturers had pointed to factors including energy costs, naira depreciation, the cost of imported machinery and spare parts, transportation and logistics as reasons for high prices. However, the FCCPC said it is testing those explanations against verified industry data.
The commission is now investigating whether cement prices are justified by legitimate costs or whether there is evidence of coordinated pricing, abuse of market power, restrictions on supply or other anti-competitive practices.
FCCPC CEO Tunji Bello said the investigation was necessary because cement prices have a direct impact on housing, infrastructure and the wider cost of doing business.
“Cement occupies a strategic place in the Nigerian economy,” Bello said.
The commission has issued notices and summonses to key industry players, requesting information on pricing methods, production, capacity utilisation, exports and commercial relationships.
