Nigeria: The Federal Competition and Consumer Protection Commission (FCCC) said that it has uncovered possible manipulation of cement prices in the market following a three-month investigation. The FCCPC said that the investigation followed complaints over the high cost of cement despite the country’s substantial limestone deposits and domestic production capacity. It said that the level of excess capacity had not produced the downward pressure on prices expected in a competitive market. The next stage will reportedly determine whether prices are justified by legitimate costs and market conditions or whether there is evidence of any anti-competitive practices.
FCCPC uncovers price manipulation in Nigeria after three-month investigation
