FCCPC says industry report suggests possible manipulation of cement prices

The Federal Competition and Consumer Protection Commission
(FCCPC) says preliminary findings from its investigation into the cement
industry suggest possible price manipulation in the market.

 

The findings are contained in a 40-page field report
compiled after a three-month cross-border study by the commission’s
anticompetitive practices department (ACP).

According to a statement on Tuesday, Ondaje Ijagwu, director
of corporate affairs at FCCPC, said the investigation followed widespread
complaints over the high cost of cement, a common staple in the country’s
construction industry.

More to follow…

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