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.
- +Only 18% of retailers access formal loans – Report
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.
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.
“The FMCG industry is more than a commercial category; it is a critical driver of jobs, manufacturing growth, trade and consumer welfare. Strengthening visibility across the value chain and fostering collaboration among stakeholders will be essential to unlocking the sector’s full potential,” she said.
According to the minister, more than 500,000 MSMEs have now been captured in the national MSME database, strengthening formalisation and improving the government’s ability to design better-targeted support.
“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. “Embedded finance is expanding access to capital, for this is an invisible economy. Together, these innovations are transforming how commerce operates across Nigeria. This transformation is one of the reasons we created this report.
“Over the past year, businesses across the FMCG value chain have navigated inflation, currency volatility, rising operating costs and changing consumer behaviour. Yet, despite these challenges, the industry has continued to demonstrate resilience. Retailers have adapted, distributors have innovated and manufacturers have continued to invest more in the economy. The ecosystem has moved forward,” he added.
On his part, the Chief Operating Officer of OmniRetail, Wale Adisa, said the report would enable manufacturers to track the performance of their products across the country.
“We’ve got over 150,000 retailers who use our platform. We’ve got thousands of distributors for multiple brands who use our platform. We’ve got hundreds of manufacturers who use our platform. And that gives us visibility into the ebbs and flows of trade information in the country. We’ve been able to see where the breakages are and how data can help close those gaps,” he said.
The firm also used the event to celebrate its seventh anniversary in the country.
