General
Nigerian Consumer Sentiment Suffers Sharp Decline
By Modupe Gbadeyanka
The latest report from Nielsen West Africa has disclosed that consumer sentiment in Nigeria suffered a sharp decline in the second quarter of 2020.
In the Nielsen Consumer Confidence Index (CCI), it was stated that Nigeria’s index decreased by 14 points to 108, while Ghana, its West African brother, reported a substantial decrease of 15 points to 104.
The declines in the two West Africa giants were attributed to the unprecedented COVID-19 pandemic, which caused the two countries to declared lockdowns as part of efforts to stop the spread of the virus.
This consequently caused loss in the economy and forced some companies to lay off some of their employees, while citizens were unable to purchase things they used to.
According to the report, in Q2 2020, Nigerian job prospects declined with less than half viewing them as excellent or good, a 14-point drop from the previous quarter.
Nigerians’ sentiment around the state of their personal finances also showed a decline with 59 percent who think they will be excellent or good over the next year, having decreased 19 points from the previous quarter.
Immediate-spending intentions also declined, with only a third of the respondents saying “now is a good or excellent time to purchase” what they want or need, a 14-point drop from the previous quarter.
In terms of whether Nigerians have spare cash to spend, 32 percent said yes, versus 50 percent in the previous quarter.
An analysis of Nigerians spending priorities, once they have met their essential living expenses, it was observed that 81 percent said they would put their spare cash into savings, 73 percent said home improvements and decorating and 66 percent would invest in shares/mutual funds.
Furthermore, 76 percent of Nigerians said they had changed their spending to save on household expenses compared to this time last year. To reduce expenses, 67 percent said they had delayed the replacement of major household items (a 10-point increase on the previous quarter).
In addition, 64 percent said they would spend less on new clothes and 56 percent said less out of home entertainment – both of which are understandable given ongoing restricted living patterns.
In the next 12 months, Nigerians said their top concern would be attaining a work/life balance (31 percent), which has seen the biggest increase of eight points compared to the previous quarter. This is followed by increasing food prices (23 percent) and concerns over the economy (19 percent).
Commenting on the consumer sentiment for Nigeria, the Managing Director of Nielsen Nigeria, Mr Ged Nooy, stated that, “As Africa’s largest economy and the largest exporter of oil, Nigeria’s economy was already under immense pressure before the COVID-19 lockdown due to the collapse in international oil prices.
“Based on the additional economic pressure as a result of the COVID-19 pandemic, Nigeria, therefore, instituted a fairly early easing of its 5-week lockdown in early May due to the adverse financial effects on its economy and population.”
Elaborating on these results, Mr Nooy submitted that, “Economic recovery has been sluggish and will remain severely constricted due to the oil price crash amidst and beyond the pandemic.
“For Nigeria’s manufacturing and retail sectors to rebound will require a sharp focus, as trade opportunities and execution remains severely constrained, having further deteriorated during the partially restricted living period.”
Looking at Ghana’s performance, its citizens have significantly dropped their outlook around their job prospects, with less than half (45 percent) saying they will be good or excellent in the next 12 months – a 16-point decrease from the previous quarter.
In terms of the state of their personal finances over the next 12 months, 60 percent say they are excellent or good, again a substantial 16-point drop from the previous quarter.
Ghanaians propensity to purchase has also seen a considerable decrease quarter on quarter, with the number of those who think now is a good or excellent time to purchase what they want or need drop from 52 percent to 33 percent in the second quarter.
Only 43 percent of Ghanaians say they have spare cash, down 13 points from the previous quarter. Once they meet their essential living expenses, the highest number of consumers (74 percent) put their spare cash into savings, followed by 73 percent on home improvements/decorating and 56 percent who would invest in stocks and mutual funds.
One of the most significant drops in discretionary spending is on holidays down from 58 percent to 27 percent – a clear indicator of consumers’ mindset shift away from non-essential services and their desire to avoid unnecessary travel.
When asked whether they had changed their spending to save on household expenses compared to this time last year, 75 percent said yes, up seven points from the previous quarter.
To reduce expenses, 53 percent said they spent less on new clothes, 52 percent on out of home entertainment, with the same figure deferring on the replacement of major household items.
When looking at the real-life factors that are affecting their outlook, the top consumer concerns over the next 12 months were increasing food prices (29 percent), followed by work/life balance (23 percent) and their children’s education (22 percent).
Yannick Nkembe, Market Lead for Nielsen West Africa Expanded Market, noted that, “The latest consumer sentiments reflect the market reality.
“With the global pandemic affecting the economy and causing general uncertainty all around, consumers have readjusted their confidence levels and are also more cautious with their spend.”
Nkembe added that, “Ghana has previously experienced strong business prospects and with the relatively earlier easing of restrictions to stimulate its economy, recovery in Ghana is likely to rebound sooner.
“We expect consumers to revert to previous consumption behaviours, although some of their attitudes will have fundamentally or permanently changed post the pandemic.”
By Adedapo Adesanya
The Executive Director/GCOO of Pathway Holdings Limited, Mrs Dolapo Akanbi-Alade, has called for increased inclusion of Nigerian women in finance as the world marks International Women’s Day 2026.
International Women’s Day 2026 is marked every March 8, and this year’s theme is Give To Gain.
In a statement shared with Business Post, Mr Akanbi-Alade noted that while International Women’s Day highlights the need for gender equality, significant progress requires deliberate policies and systems that expand women’s access to finance and leadership opportunities.
She emphasised that many Nigerian women and women-led businesses still face limited access to finance, highlighting the urgent need for targeted inclusion initiatives.
“At Pathway Holdings, we empower women and give access to investment advisory, asset management, and lending solutions for institutions, high-net-worth individuals, and businesses. Ensuring that women and women-led enterprises can access these opportunities is critical to building a more inclusive financial system,” she added.
Mrs Akanbi-Alade said, “Women’s access to finance is not only a social responsibility but essential for national productivity and economic growth’’. She co-founded the following companies:
Pathway Asset Management Limited is registered and regulated by the Securities and Exchange Commission, Nigeria, as a Fund and Portfolio Manager. The product range includes Pathway Fixed Deposit Notes, Privately Managed Notes, Pathway Private Portfolio Management, Investment Advisory, and Mutual Funds, which will be launched soon.
Pathway Advisors Limited is registered and regulated by the Securities and Exchange Commission (SEC) as an Issuing House and financial adviser. Pathway Advisors’ services cover Mergers and Acquisitions (M&A), Capital-Raising, Financial Advisory, Rating Advisory, and Project and Structure Finance.
Fundbox Financial Services Limited is a wholly owned micro-lending company providing short-term personal and SME finance loans to salaried individuals, self-employed personnel, and small businesses. They offer services which include Cars4Cash, SME Loans, Personal Loans, and Group Employee Loans. Fundbox has successfully disbursed a wide range of loans to both corporate and individual clients, supporting their financial needs and business growth.
Pathway Holdings Limited is a notable investment holding firm focusing on private market investments, including private equity, private credit, and infrastructure. Pathway creates customised investment solutions for institutional investors and individuals, leveraging its extensive experience and local footprint.
By Adedapo Adesanya
President Bola Tinubu has approved the postings of 65 ambassadors-designate and high commissioners to various countries and the United Nations, including the former head of the Department of State Services (DSS), Mr Lateef Kayode Are, who is to serve in the United States.
The Special Adviser to the President on Information and Strategy, Mr Bayo Onanuga, disclosed on Friday that 31 non-career and 34 career ambassadors have been assigned to their duty posts.
The Senate had confirmed all 65 nominees in December 2025 following screening by the Committee on Foreign Affairs.
The Ministry of Foreign Affairs has been directed to immediately commence an induction programme for the envoys, who will assume duties after receiving agrément from their host countries.
Below is the full list of postings:
NON-CAREER AMBASSADORS
1. Senator Grace Bent — Togo (Lomé)
2. Senator Ita Enang — South Africa
3. Ikpeazu Victor — Spain
4. Nkechi Linda Ufochukwu — Israel (Tel Aviv)
5. Mahmud Yakubu — Qatar
6. Paul Oga Adikwu — Vatican City Holy See
7. Vice Admiral Ibok-Ete Ekwe Ibas — Philippines
8. Reno Omokri — Mexico
9. Engr. Abasi Braimah — Hungary (Budapest)
10. Mrs Erelu Angela Adebayo — Portugal
11. Barr. Oluwayimika Ayotunwa — Japan (Tokyo)
12. Ifeanyi Lawrence Ugwuanyi — Greece (Athens)
13. Barr. Chioma Priscilla Ohakim — Poland (Warsaw)
14. Aminu Dalhatu — United Kingdom (High Commissioner)
15. Lt. Gen. Abdulrahman Bello Dambazau — China (Beijing)
16. Tasiu Musa Maigari — Gambia
17. Olufemi Pedro — Australia
18. Barr. Muhammed Ubandoma Aliyu — Argentina
19. Lateef Kayode Are — United States
20. Amb. Joseph Sola Iji — Russia
21. Senator Jimoh Ibrahim — United Nations (Permanent Representative)
22. Femi Fani-Kayode — Germany
23. Prof. Isaac Folorunso Adewole — Canada (Ottawa)
24. Fatima Florence Ajimobi — Austria
25. Mrs Lola Akande — Sweden
26. Ayodele Oke — France
27. Yakubu N. Gambo — Saudi Arabia
28. Senator Prof. Nora Ladi Daduut — South Korea (Seoul)
29. Barr. Joe-Kyari Okocha, SAN — Ireland (Dublin)
30. Dr Kulu Haruna Abubakar — Tunisia (Tunis)
31. Hon. Jerry Samuel Manwe — Trinidad and Tobago (Port of Spain)
CAREER AMBASSADORS
32. Ambassador Nwabiola Ezenwa Chukwumeka — Côte d’Ivoire
33. Besto Maimuna Ibrahim — Niger (Niamey)
34. Monica Okwuchukwu Enebechi — São Tomé and Príncipe
35. Ambassador Mohammed Mahmud Lele — Algeria (Algiers)
36. Endoni Syndoph Paebi — Burkina Faso (Ouagadougou)
37. Ahmed Mohammed Monguno — Egypt (Cairo)
38. Ambassador Jane Adams — Jamaica (Kingston)
39. Ambassador Clark-Omeru Alexandra — Zambia (Lusaka)
40. Chima Geoffrey Lioma David — Mali (Bamako)
41. Ambassador Odumah Yvonne Ehinosen — Equatorial Guinea (Malabo)
42. Ambassador Wasa Segun Ige — Lebanon (Beirut)
43. Ruben Abimbola Samuel — Italy (Rome)
44. Ambassador Onaga Ogechukwu Kingsley — Mozambique (Maputo)
45. Ambassador Magaji Umar — DR Congo (Kinshasa)
46. Ambassador Muhammad Saidu Dahiru — India (New Delhi)
47. Ambassador Abdussalam Habu Zayyad — Senegal (Dakar)
48. Ambassador Shehu Ilu Barde — Ghana (Accra)
49. Ambassador Aminu Nasir — Ethiopia
50. Abubakar Musa — Chad (N’Djamena)
51. Ambassador Haidara Mohammed Idris — Netherlands (The Hague)
52. Ambassador Bako Adamu Umar — Morocco (Rabat)
53. Ambassador Sulu Gambari Olatunji Ahmed — Malaysia
54. Ambassador Romata Mohammed Omobolanle — Tanzania
55. Ambassador Shaga John Shamah — Botswana
56. Hamza Mohammed Salau — Iran (Tehran)
57. Ambassador Ibrahim Danlami — Kenya
58. Ibrahim Adeola Mopelola — Benin (Cotonou)
59. Ambassador Ayeni Adebayo Emmanuel — Belgium (Brussels)
60. Ambassador Akande Wahab Adekola — Switzerland (Berne)
61. Ambassador Arewa Esther — Namibia (Windhoek)
62. Ambassador Gergadi Joseph John — Gabon (Libreville)
63. Ambassador Luther Ogbomode Ayo-Kalata — Sierra Leone
64. Danladi Yakubu Nyaku — Sudan (Khartoum)
65. Bello Dogon-Daji Haliru — Thailand (Bangkok)
Mr Onanuga noted that the Ministry of Foreign Affairs has already received agrément from the United Kingdom for High Commissioner-designate Aminu Dalhatu, and from France for Ambassador Ayodele Oke.
Nominations of the remaining 62 envoys have been conveyed to their respective host countries pending agreement.
General
In Celebration of International Women’s Month, CANAL+ and MultiChoice Celebrate African Women
Across Africa and beyond, women continue to shape and elevate the stories that define our societies. In celebration of International Women’s Month, CANAL+ pays tribute to the storytellers, athletes, mothers, creators, leaders and icons whose voices inspire millions of households across the continent.
The African entertainment industry is driven by women, actresses, directors, screenwriters and producers who bring depth and authenticity to every production. From captivating telenovelas and popular comedies to powerful drama series, female talent remains at the heart of the stories most loved by viewers on CANAL+ Group of channels. In sport, women redefine competition and excellence – on the field, behind the mic or in leadership. From football to tennis and athletics, women in sport don’t just participate, they elevate the game and inspire the next generation.
CANAL+ and its subsidiary MultiChoice have chosen to celebrate them through a dedicated campaign: “We are… because she is.” A 90-second spot, produced in both French and English versions, will be broadcast on the Group’s channels and social media platforms in more than 35 countries across Africa.
Watch the promo below
Throughout International Women’s Month, DStv and GOtv will spotlight female‑led films, series, reality shows and global cultural moments that reflect the brilliance and complexity of modern womanhood.
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