Minister of Industry, Trade, and Investment, Jumoke Oduwole The Nigeria FMCG Industry Report 2026, published by Omni, has revealed that only 18 per cent of retailers in the country have accessed formal loans, underscoring the scale of financial exclusion in the fast-moving consumer goods sector.
The report, which was unveiled in Lagos on Friday by the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, showed that 74 per cent of retailers rate access to credit as very important to sustaining daily operations, yet more than half indicated active shortfalls that directly affect their ability to restock on time.
“Approximately 74 per cent of retailers identify access to credit as critical to sustaining daily operations, yet only 18 per cent have accessed formal loans,” it stated. The report stated that Nigeria remains one of Africa’s largest consumer markets, with an estimated FMCG market value of $25bn and a population of around 238 million people.
The study also noted that FMCG credit sales reached N325bn in the first half of 2025, a 55.4 per cent year-on-year increase, signalling that credit is becoming a strategic tool rather than a distress measure. It added that despite recent macroeconomic pressures, the sector continued to demonstrate resilience, supported by rapid urbanisation, a youthful population and expanding digital adoption.
The report also revealed that 78 per cent of the retailers surveyed use POS systems. “More than three-quarters of retailers now use digital payment channels, creating new opportunities for embedded finance and data-driven lending,” it stated. Meanwhile, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, who was the special guest of honour at the report launch, disclosed, “Nigeria’s more than 40 million MSMEs account for the overwhelming majority of businesses in our economy today and power approximately 80 per cent of retail transactions across the country, largely through informal channels.
“Across markets, neighbourhood stores, distribution channels and retail networks, these enterprises ensure that goods reach households in every part of our country.” According to Oduwole, the Bank of Industry recorded about N636bn in total disbursements last year, including N56bn in MSME loans and N5.2bn in grants.
She emphasised the importance of data, visibility and collaboration in strengthening Nigeria’s trade ecosystem and supporting the country’s broader industrial and economic development agenda. Related News FG engages banks on digital revenue platform to boost transparency Debt issuance spikes on inflation, liquidity risks — Analyst Govt moves to ease tax reform implementation “The FMCG industry is more than a commercial category; it is a critical driver of jobs, manufacturing growth, trade and consumer welfare.
“For the FMCG sector, these numbers matter. Growth in FMCG depends on strong local production, reliable infrastructure, access to finance, efficient logistics, predictable regulations, consumer purchasing power and market access. “It also depends on ensuring that businesses spend less time navigating avoidable bottlenecks and more time producing, distributing, hiring, exporting and creating value.
This is why the ministry continues to deepen engagement with major investors through our Platinum Business Champions Programme and several other interactions,” she added. Speaking on the significance of the report, the Founder and Chief Executive Officer of OmniRetail, Deepankar Rustagi, noted, “As we celebrate seven years of building technology infrastructure for commerce, we are proud to contribute something bigger than ourselves to the industry.
“The FMCG Industry Report 2026 provides a data-driven perspective on the realities, opportunities and future of one of Africa’s most important sectors. We hope it becomes a valuable resource for business leaders, investors and policymakers to shape the future of commerce.” According to Rustagi, data is giving visibility to the FMCG sector, while digital payments are creating transparency.