Cement price: FCCPC uncovers possible manipulation after 3-month probe
According to the Commission, the investigation was prompted by concerns over Nigeria’s comparatively high cement prices despite its substantial limestone deposits, domestic production capacity and reported surplus capacity.
According to the commission, further findings showed that Nigeria has installed cement production capacity of more than 60 to 65 million metric tonnes annually, against estimated domestic consumption of 25 to 30 million metric tonnes, while the country is also a net exporter of cement to neighbouring markets.
By Progress Godfrey The Federal Competition and Consumer Protection Commission (FCCPC) says it has uncovered possible manipulation of cement prices in the Nigerian market following a three-month industry-wide investigation.
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