General
Nigeria Suffers Drop in 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).
General
Makinde to Install Ladoja 44th Olubadan September 26

By Modupe Gbadeyanka
A former Governor of Oyo State, Mr Rashidi Ladoja, will be installed as the 44th Olubadan of Ibadanland on Friday, September 26, 2025, at Mapo Hall.
This followed the approval of the Olubadan-designate by Governor Seyi Makinde, after his nomination by the ancient town’s kingmakers.
The throne became vacant following the demise of Oba Owolabi Olakulehin on Monday, July 7, 2025, at the age of 90.
The former occupier of the seat passed on less than a week to the one-year anniversary to the ascension of the Olubadan throne.
According to reports, Mr Ladoja held talks with the kingmakers at his residence in Ibadan on Tuesday and today, he was with some officials of the state government and other members of the Olubadan-In-Council.
General
Anambra Condemns Attack on NYSC Member, Assures of Justice

By Adedapo Adesanya
The Anambra State Government has condemned the attack on a member of the National Youth Service Corps (NYSC) who was assaulted and harassed by members of Operation Udo Ga-Achi in Obá, Idemili South Local Government Area of Anambra State, promising to carry out justice.
The state government said it was appalled by the disturbing video being circulated online and strongly condemned this act of violence and harassment.
According to the state’s Commissioner for Information, Mr Law Mefor, the government maintains that the Anambra security outfits, Agunechemba and Operation Udo Ga-Achi, were a child of necessity established by the Anambra Homeland Security Law 2025 to maintain law and order.
He said the government was swift in arresting and questioning the offenders long before the rather unfortunate video was released.
Mr Mefor added that the offenders have been suspended from operations pending investigation and disciplinary action.
“We have collaborated with the Police to ensure a thorough investigation and complete dispensation of justice. The victim’s medical needs have been attended to, and we have committed to providing all other necessary support,” he stated, adding that the outfit was not meant to perpetrate violence and intimidation, and equally noted that the two security outfits have commendably maintained law and order in the state since their introduction on January 18, 2025.
“Therefore, any form of assault perpetrated by any member of the security outfits is outside their code of conduct, and all those involved, particularly in the incident under reference, will face the full weight of the law.
“The government wishes to reassure members of the public, particularly Youth Corps members in Anambra for their national service, that they have nothing to fear from the State’s security outfits – Agunechemba and Operation Udo Ga-Achi – and should go about their lawful activities without fear.
“The government wishes to appreciate the steps taken by the police and Operation Udo Ga-Achi so far by arresting those involved in the assault and urges the victims to cooperate with the police and the leadership of Operation Udo Ga-Achi to ensure speedy dispensation of justice on the matter.”
The Commissioner noted that the state remains one of the country’s most hospitable and secure states, as he promised that the government would take all necessary actions to prevent such incidents in the future.
General
Moniepoint’s Documentary on Nigeria’s Food Industry Supply Chain Excites FG, Others

By Modupe Gbadeyanka
Prominent financial technology (fintech) company, Moniepoint Incorporated, has been given a pat on the back for its 12-minute documentary exploring Nigeria’s food industry supply chain.
The piece focused on the Northeast region, particularly Borno State, highlighting how cultivation and distribution processes connect local farmers to the broader national market.
A key finding from the case study showed that the informal, trust-based networks that power Nigeria’s food chain are not a weakness to be formalized, but a strategic asset to be strengthened. These networks, built on generational knowledge and social capital, have proven more durable and adaptable in crisis than formal institutions.
At the private screening of the documentary titled Inside Nigeria’s Food Chain in Abuja recenrly, the Special Adviser to the President on Economic Affairs in the Office of the Vice President, Mr Tope Fasua, who was among the few guests at the event, said Moniepoint has done well to showcase the resilience of the region’s agricultural value chain and empowering smallholder farmers through innovative digital payment solutions.
The economist said he was impressed that the work captured how digital financial services are driving economic inclusion among rural communities traditionally not associated with technology adoption, even amid ongoing security challenges and cost-of-living pressures across the country.
“I am happy and thrilled at the many things that this documentary and case study captures. It’s an eye opener for people to be able to see all of the operations going on. I have first-hand experience at how Moniepoint is changing the market dynamics for good.
“It was heartwarming to see the economic and financial inclusion x-rayed in the video with a lot of digitization going on at the level with people who you’d not associate with technology adoption,” Mr Fasua stated.
Furthermore he noted that in spite of the challenges with insecurity in the country, “We can see the resilience that our people have demonstrated in churning out grains, livestock and agric produces.
“This work has also shown that our people are embracing modern and subsistence level farming. On the financial inclusion front, it is delightful to watch the confidence that the people have in digital payments and Moniepoint has done a fantastic job in deepening adoption across the country.”
Speaking to the rationale behind the screening and case study and responding to questions from guests, the Vice President for Corporate Affairs at Moniepoint, Ms Edidiong Uwemakpan, noted the project is about real people and real impact.
“In view of the amounts that we process monthly as a business, we sought to peel back the layers on the naira and kobo and uncover the stories behind the transactions and what they mean for Nigeria.
“Moniepoint as a Nigerian company has been able to achieve such impact by adopting hyperlocal support to build trust with its users tailoring our services to fit the existing lifestyle and trading habits of Nigerians,” Ms Uwemakpan said.
She noted that Borno State had often been defined by negative narratives overshadowing its strengths. Therefore, the documentary does not only focus on showcasing Moniepoint’s role in supporting food distribution but also reveal the state’s agricultural diversity, which contributes significantly to feeding millions of Nigerians.
Aligning with these thoughts, a communications expert, Mr Tolu Ogunlesi, expressed his excitement and commended Moniepoint for telling this story – not just because of what it says about food but what it says about our resilience and the country as a whole.
“Watching the documentary, a lot of the towns mentioned became famous not for food but as Boko Haram affected regions. This project allows us to truly appreciate these areas for what they really contribute to the country’s socio-economic development and what they should actually be famous for. This is a part of Nigeria that has been traumatized by insecurity but they have demonstrated remarkable resilience such that when people sit in their homes and they are eating, they are reminded that some of these products come from the North East,” he said.
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