The Federal Competition and Consumer Protection Commission (FCCPC) has launched a deeper investigation into Nigeria’s cement industry following preliminary findings indicating possible price manipulation and other anti-competitive practices.

The commission said its 40-page field report, produced after a three-month assessment of cement markets in Nigeria and six other countries, raised concerns over the high price of cement despite Nigeria’s large limestone deposits and installed production capacity of over 60 million metric tonnes annually, compared with domestic consumption of about 25–30 million tonnes.

According to the FCCPC, cement prices in Nigeria rose from about N9,300–N9,700 per 50kg bag in January 2026 to N13,000–N15,000 in some parts of the country by July.

The commission noted that prices were comparatively lower in countries such as Kenya and Tanzania, where a bag sold for about N7,344 and N6,528 respectively.

The FCCPC said the industry’s three largest manufacturers control more than 90 per cent of installed production capacity, raising concerns over market concentration. It added that most major manufacturers cooperated with the investigation, except one.

The regulator said industry players attributed high prices to energy costs, naira depreciation, transportation and logistics expenses, but it is testing these explanations against verified production, pricing and cost data.

The next phase of the probe will determine whether cement prices are justified or whether there is evidence of coordinated conduct, abuse of market power, restrictions on domestic supply or other violations of competition law.

FCCPC Executive Vice-Chairman, Tunji Bello, said the investigation was necessary because cement prices directly affect housing, infrastructure and the wider cost of doing business.

He stressed that the probe was not intended to control legitimate business decisions but to ensure that prices and market outcomes are determined by genuine competition rather than unlawful practices.