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The Federal Competition and Consumer Protection Commission, FCCPC, says an industry-wide probe it precocious conducted suggested imaginable manipulation of prices of cement successful the Nigerian market.
The committee disclosed this successful a connection issued on Tuesday by its Director of Corporate Affairs, Ondaje Ijagwu.
The connection said the improvement followed a three-month cross-border study, which was conducted by the commission’s Anticompetitive Practices Department, ACP.
According to the statement, preliminary findings from the 40-page tract reports indicated imaginable anti-competitive practices successful the Nigerian cement industry.
The probe was launched successful effect to wide complaints implicit the rising outgo of cement, a cardinal commodity successful Nigeria’s operation industry.
The committee said concerns had been raised implicit the comparatively precocious terms of cement successful Nigeria contempt the country’s abundant limestone deposits, important home accumulation capableness and reported surplus installed capableness compared with section consumption.
The FCCPC said each large cement manufacturers cooperated with the probe by providing applicable records needed to found the viral suspicion of manipulation.
As portion of the investigation, the committee said ...
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