A comprehensive 40-page field report released by the Federal Competition and Consumer Protection Commission (FCCPC) reveals that Nigeria currently produces more cement than it consumes.....KINDLY READ THE FULL STORY HERE▶

Following a three-month cross-border investigation conducted by its Anticompetitive Practices Department (ACP), the agency found that Nigeria possesses an installed production capacity between 60 million and 65 million metric tonnes annually. In contrast, estimated domestic consumption ranges from only 25 million to 30 million metric tonnes per year, making the nation a net exporter to neighboring countries.

Unmet Market Expectations and Price Concerns

According to the FCCPC, this massive production surplus should typically drive prices down in a competitive market. However, market intelligence highlights that retail prices for a 50kg bag climbed significantly over the first half of the year—surging from between ₦9,300 and ₦9,700 in January to between ₦13,000 and ₦15,000 by July in various parts of the country.

Ondaje Ijagwu, the FCCPC’s Director of Corporate Affairs, noted that three major corporations account for over 90% of the country’s installed production capacity. While most industry stakeholders cooperated by sharing records, the persistent high costs prompted a comparative study against other markets, including Kenya, Tanzania, South Africa, Egypt, Morocco, Algeria, and Togo.

Investigation into Potential Price Manipulation

Although industry players attribute high prices to escalating energy expenses, currency depreciation affecting imported machinery, and logistical challenges, the FCCPC is rigorously testing these claims against verified market conditions.

Tunji Bello, the Executive Vice-Chairman and CEO of the FCCPC, emphasized that because cement is critical for residential housing, commercial projects, and public infrastructure, the agency is obligated to look past surface assumptions. The commission has officially issued notices and invitations to key industry players, initiating the next phase of investigations to determine whether current pricing stems from legitimate economic factors or anti-competitive behaviors such as market power abuse and coordinated supply restrictions.