NIGERIA · MARKETS
Key Facts
—The action: The Federal Competition and Consumer Protection Commission has opened a formal inquiry into Nigeria cement prices, issuing a Notice of Commencement of Investigation and Summons to Produce to the country’s major cement manufacturers. It was announced on Tuesday 18 August.
—The price path: A 50kg bag sold for NGN 9,300 to NGN 9,700 in January 2026, about US$7. It reached NGN 10,500 to NGN 13,000 by mid-year and NGN 13,000 to NGN 15,000 in some regions by July, up to about US$11.
—The paradox: Installed capacity is put at around 65 million tonnes a year against domestic consumption of 25 to 30 million tonnes. The commission says Nigeria is a net exporter of cement to neighbouring markets.
