A group, The Democratic Front (TDF), has attributed the growth in Fast Moving Consumer Goods (FMCG) in Nigeria by 54.1% in the last one year to a rise in the purchasing power of the citizenry.
In a statement signed by its Chairman, Mallam Danjuma Muhammad, and Secretary, Chief Wale Adedayo, the group insisted that the development shows that Nigerians are gradually having more disposable Income.
The statement read in part : “We are once again elated to welcome Nigeria’s leadership in Africa’s Fast-Moving Consumer Goods (FMCG), ahead of South Africa and Egypt.
”The remarkable growth in FMCG value to 54.1% in 2025, from 34.3% in 2024, shows that the sector has improved tremendously in the last year, owing to the successful implementation of Tinubu’s economic reforms.
”Even though we are concerned that the increase in the production of FMCG in Nigeria indicated a significant urban population expansion, we are nevertheless heartened that Nigerian companies like Dangote Group Plc, Nestle Food Plc, Unilever Plc, FrieslandCampina (WAMCO) Plc, and Nigerian Breweries Plc etc, have expanded their production capacity to meet consumer demands.
”This also translates to more jobs and trades in the value chain.
”As the fastest growing FMGC market in Africa, the contribution of this vibrant and essential sector to Nigeria’s Gross Domestic Product (GDP) will be immensely impactful to the nation’s drive towards becoming the first $1 1billion economy in Africa.
”Similarly, Nigeria’s lead in FMCG in Africa will further boost the current momentum of production and export in the non-oil sector of the economy.
“It will also facilitate the realisation of the Tinubu administration’s anticipated target of N1 trillion from Company Income Tax (CCT), when the new tax regime takes effect in January 2026.
”TDF is also excited to note that the increase in FMCG from 34.3% in 2024 to 54.1% in 2025 is a reflection of the rise of purchasing power among the rapidly growing middle class in Nigeria.
”The provision of several credit facilities in the bouquet of policies and interventions under Tinubu’s economic reforms, has enabled Nigerians to access credit through electronic fund transfer to millions of individuals and households, while Small and Medium Scale Enterprise( SMEs) can now access billions of Naira in loans and grants from SMEDAN, in tandem with the Renewed Hope Agenda.
”It is on the strength of this positive market trend and promising rapid economic rebound, that we congratulate President Bola Tinubu and his economic team for a job well done,” the statement said.
The group also urged Nigerians to resist efforts by some individuals and groups to foment chaos and anarchy that could disrupt ongoing economic reforms.
(vitalnewsngr.com)
