Economy
Business Priorities Make 2019 Year of Africa’s Consumers
The latest Nielsen Africa Prospects Indicator (APi) Report reveals interesting shifts in African manufacturer and retailer business priorities and a growing appreciation for the fact that no one size fits all and no total continent, country, city, consumer or channel approach is enough to ensure ongoing success in Sub-Saharan Africa (SSA).
Nielsen Executive Director: Thought Leadership Global Markets Ailsa Wingfield reports; “In 2015, companies were primarily focused on the retail environment and growth could be achieved by making more, or new products available to consumers in the right stores. Three years on, and Route to Market/ Distribution is still the core focus, but four other areas are now present in the top five priorities
“Consumer Demand has risen rapidly through the ranks. It didn’t feature in the top five priorities in 2015 whereas it placed second in 2017 and 2018. This reinforces the necessity for comprehensive knowledge of consumer circumstances and needs in order to establish, generate and meet demand. In SSA the main drivers of product choice are trust, affordability and availability, but brand success factors and differentiators now extend beyond these attributes,” explains Wingfield.
Products for the people
She adds that Product Innovation has also risen through the ranks since 2015 when it didn’t place in the top five list of priorities, to where it featured in fifth place in 2017 and is now third in the rankings, highlighting the importance of qualities that meet Africa’s diverse consumer needs and aspirations.
It’s also no surprise that Marketing and Media has moved into fourth place given that awareness, consideration and trust from respected sources are important basics required to generate trial and repeat, especially for new products in increasingly competitive brand environments.
In addition, fifth placed Operations Optimisation is essential in light of tough trading conditions and volatile currencies, which means streamlined production processes can achieve cost savings enabling vital, lower product price points.
Regional nuances
Wingfield says that sub regional priorities also reveal nuanced differences. “In West Africa, where retail priorities were formerly at the forefront, companies can no longer focus predominantly on getting products into trade but need to get to grips with identifying different consumer preferences to regenerate demand.
“Similarly, consumer demand is the key focus in Southern Africa where economic headwinds have dampened consumer prospects. Emphasis on Operations Optimisation as well as Marketing and Media is particularly evident in South Africa, where sophisticated and competitive modern trade and digital media platforms exist, including a growing connected commerce environment.”
In comparison Route to Market and Distribution remain the key focus across Central and East Africa while businesses in Angola, Democratic Republic of Congo (DRC) and Ethiopia are faced with challenging governance and regulatory restrictions raising this as a critical business area.
The Year of the Consumer
Looking ahead, Wingfield says country-specific company priorities over the next twelve months, highlight a consistent spotlight on consumer demand, making it the main focus area in ten of the 17 countries within the study.
“The priorities by country reveal similarities but also distinct differences, depending on individual market factors. What is more common is the significance of having rich insights into consumer needs to better determine future demand. Retail proficiency will be the shared winning ground, once companies are equipped with consumer understanding, optimal products and meaningful media messages and moments, to connect with consumers.”
“Overall, Africa offers one of the greatest gifts of untapped consumer potential, but requires differentiation, individualisation, resilience and focused but adaptable strategies. It’s not enough to make products available that may have worked elsewhere – they need to be the right fit for Africa’s consumers and appeal to their diverse consumption ‘moods’ and mindsets.”
By Adedapo Adesanya
TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the divestment of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
The Renaissance JV, formerly known as the SPDC JV, is an unincorporated joint venture between Nigerian National Petroleum Company Limited (55 per cent), Renaissance Africa Energy Company Ltd (30 per cent, operator), TotalEnergies EP Nigeria (10 per cent) and Agip Energy and Natural Resources Nigeria (5 per cent), which holds 18 licences in the Niger Delta.
In a statement by TotalEnergies on Wednesday, it was stated that under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil.
Production from these licences, it was said, represented approximately 16,000 barrels equivalent per day in company’s share in 2025.
The agreement also stated that TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the three other licences of Renaissance JV which are producing mainly gas, namely OML 23, OML 28 and OML 77, while TotalEnergies will retain full economic interest in these licences, which currently account for 50 per cent of Nigeria LNG gas supply.
Business Post reports that the conclusion of the deal is subject to customary conditions, including regulatory approvals.
“TotalEnergies EP Nigeria has signed a Sale and Purchase Agreement with Vaaris for the sale of its 10 per cent non-operated interest in the Renaissance JV licences in Nigeria.
“Under the agreement signed with Vaaris, TotalEnergies EP Nigeria will sell to Vaaris its 10 per cent participating interest and all its rights and obligations in 15 licences of Renaissance JV, which are producing mainly oil. Production from these licences represented approximately 16,000 barrels equivalent per day in the company’s share in 2025.
“TotalEnergies EP Nigeria will also transfer to Vaaris its 10 per cent participating interest in the 3 other licenses of Renaissance JV, which are producing mainly gas (OML 23, OML 28 and OML 77), while TotalEnergies will retain full economic interest in these licenses, which currently account for 50 per cent of Nigeria LNG gas supply. Closing is subject to customary conditions, including regulatory approvals,” the statement reads in part.
The development is part of TotalEnergies’ strategies to dump more assets to lighten its books and debt.
By Aduragbemi Omiyale
The trading licence of Monument Securities and Finance Limited has been revoked by the regulatory arm of the Nigerian Exchange (NGX) Group Plc.
Known as NGX Regulations Limited (NGX Regco), the regulator said it took back the operating licence of the organisation after it shut down its operations.
The revocation of the licence was approved by Regulation and New Business Committee (RNBC) at its meeting held on September 24, 2025, a notice from the signed by the Head of Market Regulations at the agency, Chinedu Akamaka, said.
“This is to formally notify all trading license holders that the board of NGX Regulation Limited (NGX RegCo) has approved the decision of the Regulation and New Business Committee (RNBC)” in respect of Monument Securities and Finance Limited, a part of the disclosure stated.
Monument Securities and Finance Limited was earlier licensed to assist clients with the trading of stocks in the Nigerian capital market.
However, with the latest development, the firm is no longer authorised to perform this function.
Economy
NEITI Advocates Fiscal Discipline, Transparency as FG, States, LGs Get N6trn in Three Months
By Adedapo Adesanya
The Nigeria Extractive Industries Transparency Initiative (NEITI) has called for fiscal discipline and transparency as data showed that federal government, states, and local governments shared a whopping N6 trillion Federation Account Allocation Committee (FAAC) disbursements in the third quarter of last year.
In its analysis of the FAAC Q3 2025 allocation, the body revealed that the federal government received N2.19 trillion, states received N1.97 trillion, and local governments received N1.45 trillion.
According to a statement by the Director of Communication and Stakeholders Management at NEITI, Mrs Obiageli Onuorah, the allocation indicated a historic rise in federation account receipts and distributions, explaining that year-on-year quarterly FAAC allocations in 2025 grew by 55.6 per cent compared with Q3 of 2024 while it more than doubling allocations over two years.
The report contained in the agency’s Quarterly Review noted that the N6 trillion included 13 per cent payments to derivative states. It also showed that statutory revenues accounted for 62 per cent of shared receipts, while Value Added Tax (VAT) was 34 per cent, and Electronic Money Transfer Levy (EMTL) and augmentation from non-oil excess revenue each accounted for 2 per cent, respectively.
The distribution to the 36 states comprised revenues from statutory sources, VAT, EMTL, and ecological funds. States also received additional N100 billion as augmentation from the non-oil excess revenue account.
The Executive Secretary of NEITI, Mr Sarkin Adar, called on the Office of the Accountant General of the Federation, the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC) FAAC, the National Economic Council (NEC), the National Assembly, and state governments to act on the recommendations to strengthen transparency, accountability, and long-term fiscal sustainability.
“Though the Quarter 3 2025 FAAC results are encouraging, NEITI reiterates that the data presents an opportunity to the government to institutionalise prudent fiscal practices that will protect the gains that have been recorded so far in growing revenue and reduce vulnerability to commodity shocks.
“The Q3 2025 FAAC results are encouraging, but windfalls must be managed with discipline. Greater transparency, realistic budgeting, and stronger stabilisation mechanisms will ensure these resources deliver durable benefits for all Nigerians,” Mr Adar said.
NEITI urged the government at all levels to ensure the growth of Nigeria’s sovereign wealth and stabilisation capacity, by committing to regular transfers to the Nigeria Sovereign Wealth Fund and other related stabilisation mechanisms in line with the fiscal responsibility frameworks.
It further advised governments at all levels to adopt realistic budget benchmarks by setting more conservative and achievable crude oil production and price assumptions in the budget to reduce implementation gaps, deficit, and debt metrics.
This, it said, is in addition to accelerating revenue diversification by prioritising reforms that would attract investments into the mining sector, expedite legislation to modernise the Mineral and Mining Act, support reforms in the downstream petroleum sector, as well as the full implementation of the Petroleum Industry Act (PIA) to expand domestic refining and value addition.
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