Experts link existence of strong markets to consumer confidence in products

…Rite Foods, BJAN host World Consumer Rights Day

The link between healthy markets and strong nations have been traced to consumers who are confident over the products and services offered by companies. Product regulators in the Nigerian marketplace and other experts believe that confident consumers will repeat purchases, a practice which strengthens markets.

The experts spoke at World Consumer Rights Day last weekend hosted by Brand Journalists Association of Nigeria, BJAN in collaboration with Rite Foods in its factory in Ososa, Ijebu Ode, Ogun State. The occasion was used to reflect on the rights, protection, and empowerment of consumers in Nigeria.

The regulators, including National Agency for Food and Drugs Administration of Nigeria, NAFDAC, Federal Competition and Consumer Protection Commission (FCCPC); and Sola Salako, founder of Consumer Advocacy Foundation of Nigeria, CAFON described consumer confidence as oxygen of markets.

“ When consumers trust the system, they spend more, they participate in the economy and the businesses grow”, says Salako. But when there is low trust in the system, markets weaken.

She said that Nigeria actually has strong consumer protection laws but the real problem is that cconsumers don’t know their rights. This has led her to build an AI assisted App called 3C to assist consumers understand their rights.

Vice President of FCCPC , Tunji Bello who was represented by Olubunmi Dorcas Otti, Zonal Coordinator, South West Zonal office, Lagos said the theme for this year, “Safe Product, Confident Consumer,” reflects a fundamental principle of consumer protection. “Confidence in the marketplace begins with trust, and that trust is built when consumers are assured that the products they purchase meet established standards of safety and quality”.

Bello commended Rite Foods for opening its facility to stakeholders to observe production processes more closely and to understand the systems that support product safety. To him, this “Transparency in production processes also plays an important role in strengthening public confidence”.

In her presentation, Mojisola Christiana Adeyeye, Director-General of NAFDAC, who was represented by Tinuola Akinnubi said WCRD is a reminder that consumers are not passive participants in the marketplace. They are central stakeholders whose safety, dignity, and economic rights must be protected.

Adeyeye who assures that her efforts in NAFDAC is to ensure that no product that compromises public health thrives in Nigeria, however said that consumer protection cannot be achieved by regulation alone.

Femi Ajileye, GM Operations at Rite Foods said the 18 years old company’s mission is to be the best plant in Nigeria. He said the production process in the company is at par with every international standard.

Welcoming guests at the event, Daniel Obi, Chairman of BJAN said brand journalists, function goes beyond just reporting products. “We serve as a bridge between businesses and the consuming public”. He thanked Rite Foods for hosting the 2026 WCRD event.