The Federal Competition and Consumer Protection Commission has launched an investigation into rising cement prices in Nigeria. A 50kg bag, which sold for between N9,300 and N9,700 in January, now reportedly costs between N14,500 and N16,000 despite the country’s strong production capacity.
The Commission is examining possible anti-competitive conduct among the three major producers controlling most of Nigeria’s cement capacity. FCCPC chief Tunji Bello says the investigation will establish whether the high prices are justified by legitimate production and market costs.
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