FCCPC probes high cement prices in Nigeria compared to neighbours
The Federal Competition and Consumer Protection Commission (FCCPC) has launched an investigation into possible price manipulation in Nigeria’s cement industry. This follows widespread complaints about the rising cost of cement, despite Nigeria’s large production capacity and abundant limestone deposits. The FCCPC’s preliminary findings suggest that cement prices in Nigeria are higher than those in neighbouring African countries. Industry experts and economists have weighed in on the issue, citing factors such as energy costs, logistics, and possible structural challenges.
TLDR
- FCCPC is investigating possible manipulation of cement prices in Nigeria after a three-month inquiry.
- The commission found that cement is more expensive in Nigeria than in countries like Kenya, Tanzania, and Togo.
- Despite Nigeria’s large limestone deposits and production capacity, domestic cement prices continue to rise.
- Industry players cite energy costs, naira depreciation, imported machinery, and logistics as reasons for high prices.
- Experts recommend government intervention, research into alternatives, and a deeper look at cost structures to address the issue.
