Cement prices in Nigeria have surged 23 percent this week, with costs hitting N16,000 per 50kg bag. This rapid inflation is stalling residential construction projects and exacerbating the national housing crisis. In response, the Federal Competition and Consumer Protection Commission (FCCPC) has launched an investigation, citing potential price manipulation among major manufacturers, who collectively control over 90 percent of the market’s production capacity. Meanwhile, analysts warn that the current housing market may be a bubble poised for correction due to unsustainable rent-to-income ratios and rising mortgage defaults.