Investigation: FCCPC Unvovers Possible Price Manipulation in Nigeria’s Cement Market
The Federal Competition and Consumer Protection Commission has uncovered indications of possible price manipulation in Nigeria’s cement market following a three-month industry-wide investigation.
The Commission disclosed this in a preliminary report released on Tuesday, August 18, 2026, following a 40-page field investigation conducted by its Anticompetitive Practices Department.
The investigation was launched in response to widespread complaints over the high cost of cement, a key construction material in Nigeria.
According to the FCCPC, concerns were heightened by the comparatively high retail price of cement in Nigeria despite the country’s substantial limestone deposits, significant domestic production capacity and reported surplus installed capacity relative to domestic consumption.
The Commission said all major cement manufacturers operating in the country cooperated with the investigation by providing access to their records, except one company.
It noted that publicly available estimates indicate that three major cement producers account for more than 90 per cent of Nigeria’s installed cement production capacity.
As part of the investigation, the FCCPC’s Anticompetitive Practices Department conducted a cross-border assessment of cement markets in several African countries, including Kenya, Tanzania, South Africa and Togo, as well as Egypt, Morocco and Algeria.
The Commission said the comparative study considered several factors, including the availability of limestone, population, cement production capacity and domestic consumption.
It noted that Kenya, with a population of about 58.6 million, approximately 76 per cent lower than Nigeria’s, recorded domestic cement demand of about 9.3 million metric tonnes per annum in 2025.
Despite having limestone deposits, the retail price of a 50kg bag of cement in Nairobi was approximately $5.40, equivalent to N7,344 based on the exchange rate used by the Commission.
In Tanzania, which has a population of approximately 66.3 million, about 72 per cent lower than Nigeria’s, domestic cement demand was also estimated at 9.3 million metric tonnes per annum in 2025.
The retail price of a 50kg bag of cement in the Tanzanian market was approximately $4.80, equivalent to N6,528.
The Commission also examined Togo, where a 50kg bag of cement reportedly sold for about $6.75, equivalent to N9,180, despite the country not having significant limestone deposits.
The FCCPC said its preliminary findings raised concerns about the factors responsible for the comparatively high price of cement in Nigeria, particularly in view of the country’s domestic raw-material resources and production capacity.
The Commission said its market intelligence review of the Nigerian cement market formed part of the basis for its preliminary assessment of possible anti-competitive practices.
However, the FCCPC did not disclose the complete Nigerian price comparison in the portion of the release made available, referring readers to accompanying slides for the full details.
The Commission said the findings represented a preliminary summation of the investigation and would inform further regulatory action as appropriate.
The investigation underscores growing concerns over the affordability of cement in Nigeria and its implications for the construction sector, housing costs and broader economic activity.
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