General
Nigerian Consumers Highly Price Conscious—Study
‘Money’s too tight to mention’ for Nigerian shoppers who are highly price conscious and are taking several measures to mitigate rising food prices including cutting down on luxury items and buying in bulk to benefit from lower prices. These are just some of the findings from Nielsen’s latest 2019 Nigeria Shopper Trends Report.
Nielsen Consumer Insights Lead for West Africa Abiodun Olawale-Cole says; “Nigerian shoppers have become more cautious with their spend, they are pre-planning their category choices prior to shopping visits and once in store; mostly buying essentials and switching to cheaper brands.
“Factors impacting these choices include the fact that they’re increasingly shopping with a limited budget and are keen on low prices. In addition, a high number of shoppers notice price changes and most think prices are on the rise.”
Despite their concerns around price, Nigerian shoppers are experimental when it comes to trying new stores and will visit a new outlet in the area. Though motivated for initial visits, this is not seeing shoppers move past the trial stage of the shopping journey and is not converting them to loyalists.
Olawale-Cole suggests; “Retailers and manufacturers must consider the current shopper mindset when it comes to product pricing and strive to meet the needs and wants of a price conscious and deal-seeking shopper to improve loyalty and secure higher spend.”
Modern trade gains ground
Looking at the evolving roles of Modern Trade (MT) e.g. branded supermarkets and stores versus Traditional Trade (TT) e.g. non-branded stores, table-tops and kiosks within the Nigerian retail space, Olawale-Cole says that MT is starting to gain a foothold with a total value share of around 5% of FMCG sales.
“More than 90% of FMCG sales within Nigeria still take place within TT outlets in terms of value and volume and we don’t see that changing much in the next 12-months, however, we do expect significant growth in MT within the next five years.”
“Where we are seeing a lot of growth is in the number of physical MT stores with a number of local branded supermarkets opening e.g. Adide, as well as international chains such as Shoprite and Spar having bolstered the market. The percentage of spend has also almost doubled in Supermarkets compared to 2 years back (17% in 2017 to 33% in 2019), signalling more acceptance of modern trade in the country.”
The Nielsen Shopper Trends study found that Nigerian shoppers mainly use TT for their top up shops, so frequency of visits to these types of stores is understandably higher. Their main reason for visiting MT stores is for bulk shopping with spend normally much higher for this type of trip and visits to supermarkets averaging four times a month, while visits to convenience stores average nine times a month.
Convenience is key
Olawale-Cole elaborates; “Nigerians are starting to shop at Modern Trade outlets more; with one of the key drivers of this behaviour being the convenience of a one stop shop. This is evidenced by the fact that Convenience Stores have the highest monthly footfall within the MT category, with average shopper visits more than double that of Supermarkets.
It’s important to note that Traditional Trade (TT) also offers convenience in the form of close proximity to home and office and still provides better pricing on certain items but Olawale-Cole says; “In line with consumers’ need to simplify their lives, we foresee urban MT retail outlets e.g. supermarkets, growing their share of trade in Nigeria, as consumers become more willing to pay for the convenience and time saving benefits of one stop shop solutions.” Evidence of this is that larger independent MT stores are already gaining ground in Nigeria’s urban areas, with formats offering a combination of large and small stores.
Overall, the growing demand for convenience presents manufacturers and retailers with countless opportunities.
Olawale-Cole comments; “Today, convenience transcends products, services and store channels. Packaging innovation, route to market, storage, portability and ordering, as well as device, payment and application technologies all need to be key considerations in providing an overall convenience experience that appeals to the discerning Nigerian shopper.”
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
By Modupe Gbadeyanka
Local crude oil refiner, Dangote Petroleum Refinery, has kicked against attempts to put consumers of premium motor spirit (PMS), otherwise known as petrol, under untold hardship in the country.
The company, which commenced nationwide sales of the product at a pump price of N739 per litre across all MRS Oil Nigeria Plc filling stations, appealed to Nigerians to report any of its marketers who sell above this price.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable.
“We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the Lagos-based refinery said in a statement.
It noted that the significant price reduction was part of its mission to deliver affordable fuel to consumers and stabilize the downstream petroleum market.
With over 2,000 MRS stations nationwide, the new pricing is expected to be implemented across all outlets, ensuring that the benefits of this reduction reach consumers nationwide.
Dangote Refinery applauded marketers who have embraced the new pricing regime and urged others to follow suit in the interest of national economic recovery.
“We commend MRS and other marketers who have demonstrated patriotism by reflecting the reduced price at the pump. We call on others to join this effort as a show of support for Nigeria’s economic recovery,” the refinery stated.
Historically, the festive season has been associated with fuel scarcity and sharp price hikes. However, Dangote Refinery has delivered a decisive market intervention—crashing pump prices at a time when Nigerians typically brace for hardship. Backed by a guaranteed daily supply of 50 million litres, this initiative fundamentally alters the supply dynamics during the holiday period.
By refining locally at scale, the refinery is reducing Nigeria’s exposure to volatile global markets, conserving foreign exchange, stabilizing the Naira, and strengthening energy security. This sustained price cut and steady supply are providing relief to households, businesses, and transport operators nationwide.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
“We encourage Nigerians to avoid buying PMS at excessively high prices when they can access locally refined fuel at N739 per litre from over 2,000 MRS stations nationwide. Report any MRS station selling above N739 per litre by calling 0800 123 5264,” the refinery said.
“We also call on other petrol station operators to patronize our products so that the benefits of this price reduction can be passed on to Nigerians across all outlets, ensuring broad-based relief and a more stable downstream market,” it added, reaffirming its commitment to steady supply, price moderation, and energy security, emphasizing that its operations are anchored on long-term national interest rather than short-term market pressures.
“Our objective remains clear: to ensure consistent supply of high-quality petroleum products at affordable prices for Nigerians, while supporting economic stability and reducing dependence on imports,” the refinery concluded.
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