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Nigeria Suffers Drop in Consumer Confidence Index

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Consumer Confidence Index

A new report by Nielsen Africa has revealed that the Consumer Confidence Index (CCI) of Nigeria has dropped five points to 112, while that of Ghana went down by four points to 114 in the third quarter of 2019 from 118 in the previous quarter.

In a statement made available to Business Post, it was stated that these two sets of results present a fairly stable, albeit a slightly less positive picture of consumer sentiment across West Africa compared to the previous quarter.

“Nigerians are experiencing a subdued confidence level considering that inflation has started to rise again and the proposed VAT increase bill, which is making people cautious.

“Furthermore, the rising sovereign debt and the anxiety around further Naira devaluation, continued to impact consumer sentiment in Nigeria in the third quarter,” Managing Director of Nielsen for Nigeria, Mr Ged Nooy, was quoted as saying.

Looking at the consumer picture, Nigerians immediate-spending intentions has shown a large decline; with only 41 percent of consumers (versus 54 percent in the previous quarter) saying now is a good or excellent time to purchase what they want or need. Their perception around job prospects has also declined, with 55 percent viewing them as excellent or good, a five-point drop from the previous quarter.

In addition, sentiment around the state of personal finances has also shown a decline, with 76 percent Nigerians agreeing their state of personal finances will be excellent or good over the next year, a six-point drop from the previous quarter.

Looking at whether Nigerians have spare cash to spend, 47 percent said yes, versus 51 percent in the previous quarter. In terms of their spending priorities once they meet their essential living expenses, 76 percent would invest in home improvements/decorating, 72 percent would put their spare cash into savings and 62 percent say they will invest in shares/mutual funds.

Looking at the top concerns for Nigerians over the next six months, work/life balance tops the list with 28 percent, a one-point increase compared to the previous quarter. This is followed by concerns around increasing food prices at 22 percent (the same as Q2’19) and tolerance towards different religions (19 percent) superseding the economy, which is now at 16 percent, a four-point decrease compared to the previous quarter.

Elaborating on these results, Mr Nooy stated that, “Nigerian consumer sentiment dropped this quarter, however, it is still quite high compared to the cut off of 100, where anything above 100 reflects a positive consumer confidence. The key for marketers and retailers is to understand these fluctuating consumer sentiments and quickly adapt to the consumer’s needs.”

Looking at Ghana’s overall performance, Nielsen Market Lead for West Africa, Yannick Nkembe, noted that, “The initial optimism experienced at the beginning of the year is waning in Ghana owing to the concerns around the economy. Though inflation levels dropped, these have not shown a meaningful impact at the ground level and Ghanaians continue to feel the pressure. Consumers have become cautious of spending as they are not certain of future prospects.”

This more subdued outlook is reflected by Ghanaian consumers’ curtailed view of their job prospects, with a substantial 12-point decrease to 51 percent saying job prospects will be excellent or good in the next 12 months. In terms of the state of their personal finances over the next 12 months, 72 percent say they are excellent or good, down from 74 percent in the last quarter. The number of Ghanaian consumers who feel now is a good or excellent time to purchase the things they need or want, has also seen an inconsequential drop quarter on quarter, from 46 percent to 45 percent.

Looking at whether Ghanaians have spare cash, only 42 percent say yes, down a substantial 10 points from the previous quarter. Once they meet their essential living expenses, the highest number of consumers (82 percent) still say they will put their spare cash into savings, followed by 66 percent on home improvements/decorating and 59 percent who will invest in stocks and mutual funds.

When looking at the factors that are having a negative impact on Ghanaians outlook, the top concerns over the next six months are increasing food prices (26 percent) followed by work/life balance at 22 percent, the economy and tolerance towards different religions, both at 18 percent, and job security coming in fourth at 16 percent.

In light of their outlook, more than three quarters (72 percent) of Ghanaians have changed their spending to save on household expenses compared to the same time in the previous year.

The top three actions they have taken to save money are delaying the replacement of major household items (55 percent), looking for better deals on loans/insurance/credit cards (54 percent) and spending less on new clothes (53 percent).

Dipo Olowookere is a journalist based in Nigeria that has passion for reporting business news stories. At his leisure time, he watches football and supports 3SC of Ibadan. Mr Olowookere can be reached via dipo.olowookere@businesspost.ng

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Without an Empty Grave, There is no Christian Faith—Apostle Flourish Peters

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Jesus + Nothing Worship

By Aduragbemi Omiyale

The Lead Pastor and Apostolic Head of the Love of God in Christ (LOGIC) Churches Global, Apostle Flourish Peters, has stressed the significance of the resurrection of Jesus Christ to the Christian faith.

Speaking at the church’s inaugural Jesus + Nothing Worship on Good Friday in Lagos, he informed the congregation that, “Without an empty grave, there is no Christian faith.”

“Our faith is fundamentally premised on this singular, undeniable truth – the empty grave. This is what distinguishes our faith; while over 4,000 religions exist, only one points to a vacated tomb.

“Ours is the unique faith where the very person we worship lives within us. We are truly elated that through the resounding success of Jesus + Nothing Worship, we were able to bring christocentric worship to the masses,” the cleric added.

Business Post reports that the programme, a powerful evening of gospel music, left attendees deeply moved and spiritually uplifted.

It served as a profound reminder of the sacrifice and glorious resurrection of Jesus Christ, emphasising the core message that through a sober Friday came a Good Friday for all.

Several entertainers, including Timi Dakolo and Greatman Takit, alongside Neon Adejo, SMJ, Noble G, Steve Hills, Lily Perez, Joxie, Anderson Qozan, Pastor Victor Paul, Emeka Songz, Flo, Dorcas Moore, Magpsalms, Mera Owili, Gerald Bishung, Phebe Lion, Larry J and the Evolution Children’s Choir delivered soul-stirring performances that resonated with the central theme of redemption through Jesus Christ at the church’s headquarters in Lekki.

Apostle Peters said Jesus + Nothing Worship was an impactful success, declaring that it would become an annual event.

He emphasised that this worship session is intentionally focused on Jesus Christ, the message of salvation, and providing a vital platform to unveil the gospel talents within The LOGIC Church.

Jesus + Nothing Worship has been a truly unifying experience, allowing us to collectively focus on the profound significance of Jesus’ death and the abundant life we have in His resurrection.

“It is our vision to create a consistent platform where the power of music can amplify the core message of the Gospel and provide an opportunity for the incredible music ministers within our church to impact lives,” he stated.

Building on the momentum of the successful 2024 Jesus + Nothing Conference, the Jesus + Nothing Worship further solidified The LOGIC Church’s mission to cultivate a family centred on grace and faith, where the transformative Love of God in Christ is tangibly felt.

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Tinubu to Return to Nigeria Today After 19 Days Away

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Tinubu address nation

By Adedapo Adesanya

President Bola Tinubu will return to Nigeria today from his work visit to France, the presidency has said.

The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed this in a post on his X handle on Monday.

President Tinubu left Nigeria on April 2, 2025, for Paris, France, on a short working visit. This means the President would have spent 19 days in the European nation if he arrives today.

According to the statement, President Tinubu used the retreat to review the progress of ongoing reforms and engage in strategic planning ahead of his administration’s second anniversary.

His latest trip had been faulted by major opposition leaders who criticised him for being away despite the rising insecurity in the country, especially in Benue and Plateau states, where scores of residents have been killed in attacks on several communities.

President Tinubu closest opponent at the 2023 presidential election and former Vice President, Mr Atiku Abubakar, asked him to end his trip to France and address the spate of insecurity in Nigeria.

Mr Atiku questioned Mr Tinubu’s continued stay in the European country despite the spate of killings across Nigeria.

“While Tinubu dines under chandeliers in the land of good governance, the country he governs is spiraling into chaos. Plateau has turned into a killing field — over 100 lives lost in relentless attacks,” his spokesman, Mr Paul Ibe, said in a statement on April 17.

Also, the presidential candidate of the Labour Party in the 2023 general elections, Mr Peter Obi, urged Mr Tinubu to suspend his France trip and urgently return to Nigeria to address the deteriorating security situation, particularly in Plateau and Benue states.

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NTYTP Advocates Youth-Driven Leadership, National Renewal

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Nigerian youths

By Modupe Gbadeyanka

A youth-focused leadership development advocacy group known as the Not Too Young To Perform (NTYTP) has called for a renewed focus on youth-driven leadership and national transformation in Nigeria.

In a statement to greet Christians around the world for Easter, the organisation emphasised the urgent necessity of bringing more young people into leadership positions, noting that resetting the nation’s trajectory requires fresh energy, innovative ideas, and a break from the mistakes of the past.

In the message signed by its National Secretary, Mr Muhammed Bello, NTYTP described the 2025 Easter celebration as a period for deep reflection on the life, sacrifice, and resurrection of Jesus Christ — a story that embodies patience, perseverance, sacrifice, and ultimate victory.

It said the crucifixion and resurrection of Christ stand as timeless examples of strength, determination, and divine restoration, offering crucial lessons for a nation like Nigeria, which is currently in need of significant economic, social, and institutional reforms.

“We use this yuletide period to appeal to all State actors to prioritize the progress of this country above politics, region, ethnicity, and religion.

“Our actions today will determine whether future generations inherit a country they can be proud of,” the group stated.

NTYTP also expressed hope that the spiritual significance of Easter would inspire Nigerians to work collectively towards building a nation where unity, justice, and prosperity reign.

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