Consumer Confidence: The ‘Oxygen’ of Nigeria’s Market Growth, Experts Declare at WCRD 2026
Industry regulators and consumer advocacy experts have identified the link between healthy markets and strong nations as rooted in the confidence of the consuming public. Speaking at the 2026 World Consumer Rights Day (WCRD) event, stakeholders noted that when consumers are assured of product safety, they drive economic growth through repeat patronage and active market participation.
The event, themed “Safe Product, Confident Consumer,” was hosted by the Brand Journalists Association of Nigeria (BJAN) in collaboration with Rite Foods Ltd at the company’s world-class production facility in Ososa, Ogun State.
The Power of Market Trust
Hon. Sola Salako-Ajulo, Founder of the Consumer Advocacy Foundation of Nigeria (CAFON), described consumer confidence as the “oxygen of markets.” She noted that while Nigeria possesses robust protection laws, a significant knowledge gap remains among the public.
To bridge this gap, Salako-Ajulo announced the launch of 3C, an AI-assisted application designed to help Nigerians understand and navigate their rights in real-time. “When consumers trust the system, they spend more, participate in the economy, and businesses grow,” she stated. “Conversely, low trust weakens the entire market structure.”
Transparency as a Catalyst for Growth
Representing the Federal Competition and Consumer Protection Commission (FCCPC), Zonal Coordinator Olubunmi Dorcas Otti (on behalf of Vice Chairman Tunji Bello) emphasized that trust is built only when products consistently meet established safety standards.
The FCCPC commended Rite Foods for its transparency in opening its factory doors to stakeholders. “This level of openness plays a vital role in strengthening public confidence and understanding the systems that support product safety,” Otti remarked.
A Shared Responsibility for Safety
The National Agency for Food and Drug Administration and Control (NAFDAC) reaffirmed its commitment to public health. Represented by Tinuola Akinnubi, Director-General Prof. Mojisola Adeyeye reminded the audience that consumers are not passive participants but central stakeholders whose dignity and economic rights must be protected.
“Our effort at NAFDAC is to ensure that no product compromising public health thrives in Nigeria,” Adeyeye’s statement read, while adding that true consumer protection requires a collaborative effort beyond just regulation.
Indigenous Excellence
Highlighting the role of local manufacturing, Olufemi Ajileye, GM of Operations at Rite Foods, noted that the 18-year-old company is on a mission to remain the best plant in Nigeria. He assured stakeholders that Rite Foods’ production processes remain at par with international safety and quality benchmarks.
In his welcome address, Daniel Obi, Chairman of BJAN, underscored the evolving role of the media in the marketplace. “Our function goes beyond reporting products; we serve as the critical bridge between businesses and the consuming public,” Obi stated, thanking Rite Foods for their partnership in hosting the 2026 global commemoration.
