OTEDOLA BRIDGE, LAGOS TANKER FIRE PUT-OFF, TRAFFIC RESTORED. (PHOTO).

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 OTEDOLA BRIDGE, LAGOS TANKER FIRE PUT-OFF, TRAFFIC RESTORED Traffic flow along the Otedola Bridge corridor in Lagos has been restored following effort to put out  a fire involving a fallen tanker carrying thirty-three thousand litres of diesel. The Lagos State Emergency Management Agency, LASEMA, confirmed that two adult males who sustained second- and third-degree burns in the incident were evacuated for further medical treatment. In a statement, the agency’s Permanent Secretary, Dr. Olufemi Damilola Oke-Osanyintolu, said the fire was extinguished through the coordinated efforts of the Lagos State Fire and Rescue Service, LASEMA Response Team, Federal Road Safety Corps, Lagos State Traffic Management Authority and Lagos State Ambulance Service. He added that the victims received immediate medical attention at the scene before being transported for further treatment. LASEMA disclosed that dampening-down operations were eighty per cent complete at the time of filing this repor...
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FCCPC ESTABLISHES POSSIBLE MANIPULATION OF CEMENT PRICES IN NIGERIA. (PHOTO).

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 FCCPC ESTABLISHES POSSIBLE MANIPULATION OF CEMENT PRICES IN NIGERIA


The Federal Competition and Consumer Protection Commission (FCCPC) says it has uncovered possible manipulation of cement prices in the Nigerian market following a three month industry-wide investigation.

                

The FCCPC discloses this in a statement, saying the preliminary findings, contained in a 40-page field report, follows a cross-border study by the Anticompetitive Practices Department (ACP) of the Commission in response to complaints over the high cost of cement.


According to the Commission, the investigation was prompted by concerns over Nigeria’s comparatively high cement prices despite its substantial limestone deposits, domestic production capacity and reported surplus capacity.


It adds that all major cement manufacturers made their records available to the Commission, except one, while publicly available estimates show that three major undertakings account for more than 90 per cent of installed production capacity.


Meanwhile, the FCCPC extends its investigation to Kenya, Tanzania, South Africa, Egypt, Morocco and Algeria, comparing limestone availability, population, production capacity and consumption.


A 50-kilogramme bag sells for 5.40 dollars, equivalent to 7,344 naira, in Kenya; 4.80 dollars, or 6,528 naira, in Tanzania; and 6.75 dollars, or 9,180 naira, in Togo, which has no limestone deposits.

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