Business
SSB Consumption and the NCD Burden in Nigeria: The Challenge of Consumer Education
SSB Consumption and the NCD Burden in Nigeria: The Challenge of Consumer Education
By Patrick Iwelunmor
One of the greatest banes to actualising a robust national food policy in Nigeria has been the failure of SSB manufacturers to entrench sound consumer education initiatives, even as they smile to the bank with multi-billion naira returns on investment at the expense of their consumers’ health. Most of these consumers, including vulnerable populations such as children, are sadly carried away by the fascinating storylines of the advertising campaigns of sugar-sweetened beverages. As a result, they are subconsciously influenced to make buying decisions that become detrimental to their well-being in the long run.
Nigeria ranks 4th globally in the highest SSB consumers. The country sells an estimated 38.6 million liters of sugar-sweetened beverages annually in a market that accounts for a whooping US$16.87bn in 2023, with a projected annual growth rate of 16.63 percent. What this portends is that non-communicable diseases like diabetes, obesity and tooth decay, which have been linked to the consumption of SSBs, could witness an upward swing in the coming years if the government and other stakeholders, especially the SSB manufacturers, do not intensify consumer education programmes to sensitise the public on the dangers embedded in these bottled disasters. In addition, SSB manufacturers must ethically draw the line between profit-making and jeopardising consumers’ health.
According to a document, National Multi-Sectoral Action Plan for the Prevention and Control of Non-Communicable Diseases (2019 – 2025), obtained from the Federal Ministry of Health, There is very little evidence on the burden of NCDs and its trend in Nigeria. However, a recent systematic review of NCDs-related evaluation carried out across the federation on seven NCD diseases – cardiovascular diseases, diabetes mellitus, chronic respiratory diseases, cancers, sickle cell disease, mental neurological and substance use disorders and road traffic injuries, indicates a rise in trend, prevalence and incidence. The document also clearly identified the consumption of refined sugars in foods and drinks as one of the risk factors for the escalation of NCDs in Nigeria. The document on the statistical overview of the SSB burden in Nigeria reads: “According to the WHO NCD Country profile 2016 report, NCDs were estimated to cause approximately 617,300 deaths, representing 29% of total deaths in Nigeria. Out of these, injuries accounted for 8%, followed by cardiovascular diseases with 11%. Premature mortality due to NCDs, which is defined as the probability of dying between ages 30 and 70 years from the main NCDs is 22%.”
Though SSB manufacturers, like Coca-Cola, have always claimed that there is no empirical evidence to show that sugar-sweetened beverages predispose consumers to non-communicable diseases, experts in the medical and nutrition professions have always warned that continuous consumption of soft drinks or ultra-processed foods can lead to harmful outcomes for the human system. It was to this end that the popular sugar wars ensued in the United States, with the advocacy group, The Praxis Project filing a lawsuit against Coca-Cola for using deceptive advertising to mislead consumers about the health impact of their products. Similar cases have also been recorded in other parts of the world with overwhelming scientific consensus about the harmful effects of sugar on human health, even though SSB manufacturers have continued to deny it.
When contacted to explain the efforts his company was making in terms of educating its teeming consumers on the reality of SSBs’ link with non-communicable diseases like diabetes, Mr. Ekuma Eze, Director of Public Affairs and Sustainability at Coca-Cola Hellenic Bottling Company, promised to liaise with the marketing department and get back to this writer. His response is still being awaited. It is the same situation with letters sent to the marketing heads of CHI Ltd., makers of Chivita, Rite Foods, makers of Bigi Cola, and Viju Industries, makers of Viju Milk. None of them has responded to queries sent to them. Is this silence a sign of complicity in the shortchanging and deception of consumers? Time will surely tell. This collective silence makes a mockery of the Freedom of Information Act of 2011 which empowers individuals, groups and bodies to access information from public and private institutions offering services to the Nigerian public. More so, it is imperative for these SSB manufacturers to understand that the information being requested is a tool that would enable better outcomes for their products and services in terms of quality control and assurance and not a strategy for faultfinding. Until such manufacturers cooperate and make the needed information available to the public, bridging the gap of consumer awareness and education would remain a mirage.
However, Dr Patrick Ijewere, CEO of The Nutrition Hospital, Lagos, agrees that there is an ongoing imbalance between consumer education and deception by the manufacturers of SSBs, for the sake of maximising profit. Although, according to the nutrition expert, the manufacturers of SSBs are always deploying fantastic advertising to lure consumers with illusory realities such as Coca-Cola’s “Tomorrow’s People” ad of the mid-eighties and Nestle’s Milo “Food Drink of Future Champions” of the nineties, there has not been commensurate efforts in terms of educating consumers on the harmful effects of sugar consumption on health. For him, there are no future champions anywhere near Milo, only obese children with decaying dentition and failing eyesight. He, therefore, advocated for educational labelling on such products as it is done in the tobacco industry worldwide.
While harping on the importance of consumer awareness and education in Nigeria, the President of Consumer Awareness Organisation, an Enugu-based NGO and former Board Member International Association of Consumer Law, Professor Felicia Monye, lamented the low level of consumer education in the country, adding that it is not at the level it should be. She said that even though there are many agencies and available laws centred on consumer protection, there has been a serious lack of dedication on the part of policymakers. She also believes that most consumer-focused agencies see consumer protection as ancillary and not as a principal obligation, hence the lackadaisical attitude of most manufacturers in properly educating their consumers. For products like SSBs capable of causing harm to health, she said, the attachment of warning labels should be part of the obligation of their manufacturers.
For Consultant Endocrinologist at the Lagos State University Teaching Hospital, LASUTH, Dr Akin Dada, SSBs contribute to the rise in diabetes cases in Nigeria, especially where there is a family history or the presence of other risk factors for the disease. He added that diabetes ranks number two among the most prevalent non-communicable diseases in the country. Therefore, he advocated for measures such as consumer health education by both government and the manufacturers of SSBs towards de-escalating the 5 to 7 per cent prevalence rate of NCDs which also accounts for over 29 per cent of total deaths in the country.
On why the 10 Naira per litre of SSB tax, as contained in the Finance Act of 2021, has not made the much-desired impact, Professor of Microbiology and Medical Laboratory Scientist, Louis Egwari, Director of Training and Research at QSM Training and Consulting Ltd., believes that it would take a while for the tax to be effective because the government may have adopted the policy, bearing in mind the economic implications it would have on both consumers and the manufacturers if it is suddenly increased above the stipulated 10 Naira. According to him, there are strong possibilities that the tax would be graduated to higher sums in the coming years.
Professor Egwari also lamented the low level of consumer education in the country. He blamed the development on stakeholders like NGOs and government agencies, who have failed to be proactive either because they are negligent or because they are receiving “funding” from politicians, who have special stakes in some of these SSB companies. When contacted for her comments on the efforts being made by the Department of Food and Drugs of the Federal Ministry of Health towards ensuring that Nigerian consumers are protected, especially with regards to the consumption of SSBs, Pharm Bunmi Aribeana, director of the department, asked this writer to send his queries, which she has not responded to, as at the time of filing in this report.
Meanwhile, in a swift reaction to the reason SSB manufacturers seem not to be doing enough in terms of consumer education, Chairman Senate Committee on Health, Senator Ibrahim Oloriegbe, said the situation was so because the government, which collects tax from these SSB manufacturers is supposed to be at the forefront of spearheading such consumer education causes, through agencies like the National Orientation Agency (NOA) and the Health Education Unit at the Federal Ministry of Health. He also argued that the link between SSBs and non-communicable diseases is indirect, adding that the manufacturers of these SSBs can argue that they have also made available zero-sugar options for those who do not want the sugar-sweetened variants.
Corroborating the position of Senator Oloriegbe, foremost Marketing Communication Specialist and CEO of XLR8, award-winning Public Relations firm, Pharm Calixtus Okoruwa, agreed that it is the responsibility of the Federal Ministry of Health to respond to perceived or potential public health challenges. He also noted that it should be the responsibility of SSB manufacturers to help drive consumer education initiatives targeted at more appropriate or healthier consumption of their products, especially from the corporate governance point of view. He absolved marketing communication agencies of any wrongdoing or complicity in the seeming failure to properly educate consumers while mesmerising them with “sugar-coated” adverts, adding that their activities are duly vetted and regulated by the Advertising Regulatory Council of Nigeria (ARCON) and the National Agency for Food and Drug Administration and Control (NAFDAC).
Responding to the possibility of marketing communication companies conniving with SSB manufacturers to deceive consumers through misleading advertising campaigns, thereby stifling the clamour for consumer awareness and education, ARCON’s Head of Legal Affairs, Barrister Chukwudi Ezeaba, said the council advocates for consumer education to the extent permitted by its statutory responsibilities. He added that such advocacy features in their annual training and sensitisation calendar. He further observed that the Advertising Standards Panel, which has the statutory duty of ensuring that adverts conform to relevant laws and codes of ethics, would not shut its eyes where incidences of excesses are found, regardless of the product or service.
For public health expert and CEO of Bloom Public Health, an Abuja-based public health think-tank, Professor Chimezie Anyakora, one of the most important strategies for improving and adopting healthy dietary practices in Africa remains the promotion of consumer awareness and demand for healthy foods. According to Anyakora, these can be achieved by educating children, adolescents and adults about nutrition and healthy dietary practices, supporting point-of-sale information through comprehensive nutrition labelling, and providing nutrition and dietary counselling at primary healthcare facilities.
Critically speaking, there is no gainsaying the fact that government and all other stakeholders must urgently map out strategies to decisively bridge the consumer education gap in the relationship between manufacturers of SSBs and their consumers. Importantly, the government should consider enforcing the mandatory use of labelling to warn consumers of SSBs on the potential dangers associated with consuming sugar-sweetened beverages, as done in the tobacco industry. We can have warnings such as: “The Federal Ministry of Health Warns that excess sugar is dangerous to health”, “This product is unsuitable for diabetics, etc.” Such warning labels have proven to be effective in curbing overconsumption of sugar-sweetened beverages as demonstrated in Chile, where a 2016 food labelling and advertising regulation brought about a 25 percent drop in the consumption of SSBs. For a multi-lingual and multi-cultural setting like Nigeria, such warning labels, when translated into different local languages, can help consumers make informed dietary choices and avoid endangering their health by staying away from the wrong beverages. This is achievable in Nigeria, if the government can muster the political will.
Business
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
BUA Foods Records 91% Surge in Profit After Tax, Hits ₦508bn in 2025
By femi Oyewale
Business
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
Adron Homes Unveils “Love for Love” Valentine Promo with Exciting Discounts, Luxury Gifts, and Travel Rewards
In celebration of the season of love, Adron Homes and Properties has announced the launch of its special Valentine campaign, “Love for Love” Promo, a customer-centric initiative designed to reward Nigerians who choose to express love through smart, lasting real estate investments.
The Love for Love Promo offers clients attractive discounts, flexible payment options, and an array of exclusive gift items, reinforcing Adron Homes’ commitment to making property ownership both rewarding and accessible. The campaign runs throughout the Valentine season and applies to the company’s wide portfolio of estates and housing projects strategically located across Nigeria.
Speaking on the promo, the company’s Managing Director, Mrs Adenike Ajobo, stated that the initiative is aimed at encouraging individuals and families to move beyond conventional Valentine gifts by investing in assets that secure their future. According to the company, love is best demonstrated through stability, legacy, and long-term value—principles that real estate ownership represents.
Under the promo structure, clients who make a payment of ₦100,000 receive cake, chocolates, and a bottle of wine, while those who pay ₦200,000 are rewarded with a Love Hamper. Payments of ₦500,000 attract a Love Hamper plus cake, and clients who pay ₦1,000,000 enjoy a choice of a Samsung phone or a Love Hamper with cake.
The rewards become increasingly premium as commitment grows. Clients who pay ₦5,000,000 receive either an iPad or an all-expenses-paid romantic getaway for a couple at one of Nigeria’s finest hotels, which includes two nights’ accommodation, special treats, and a Love Hamper. A payment of ₦10,000,000 comes with a choice of a Samsung Z Fold 7, three nights at a top-tier resort in Nigeria, or a full solar power installation.
For high-value investors, the Love for Love Promo delivers exceptional lifestyle experiences. Clients who pay ₦30,000,000 on land are rewarded with a three-night couple’s trip to Doha, Qatar, or South Africa, while purchasers of any Adron Homes house valued at ₦50,000,000 receive a double-door refrigerator.
The promo covers Adron Homes’ estates located in Lagos, Shimawa, Sagamu, Atan–Ota, Papalanto, Abeokuta, Ibadan, Osun, Ekiti, Abuja, Nasarawa, and Niger States, offering clients the opportunity to invest in fast-growing, strategically positioned communities nationwide.
Adron Homes reiterated that beyond the incentives, the campaign underscores the company’s strong reputation for secure land titles, affordable pricing, strategic locations, and a proven legacy in real estate development.
As Valentine’s Day approaches, Adron Homes encourages Nigerians at home and in the diaspora to take advantage of the Love for Love Promo to enjoy exceptional value, exclusive rewards, and the opportunity to build a future rooted in love, security, and prosperity.
Business
Why Nigeria’s Banks Still on Shaky Ground with Big Profits, Weak Capital
*Why Nigeria’s Banks Still on Shaky Ground with Big Profits, Weak Capital*
*BY BLAISE UDUNZE*
Despite the fragile 2024 economy grappling with inflation, currency volatility, and weak growth, Nigeria’s banking industry was widely portrayed as successful and strong amid triumphal headlines. The figures appeared to signal strength, resilience, and superior management as the Tier-1 banks such as Access Bank, Zenith Bank, GTBank, UBA, and First Bank of Nigeria, collectively reported profits approaching, and in some cases exceeding, N1 trillion. Surprisingly, a year later, these same banks touted as sound and solid are locked in a frenetic race to the capital markets, issuing rights offers and public placements back-to-back to meet the Central Bank of Nigeria’s N500 billion recapitalisation thresholds.
The contradiction is glaring. If Nigeria’s biggest banks are so profitable, why are they unable to internally fund their new capital requirements? Why have no fewer than 27 banks tapped the capital market in quick succession despite repeated assurances of balance-sheet robustness? And more fundamentally, what do these record profits actually say about the real health of the banking system?
The recapitalisation directive announced by the CBN in 2024 was ambitious by design. Banks with international licences were required to raise minimum capital to N500 billion by March 2026, while national and regional banks faced lower but still substantial thresholds ranging from N200 billion to N50 billion, respectively. Looking at the policy, it was sold as a modern reform meant to make banks stronger, more resilient in tough times, and better able to support major long-term economic development. In theory, strong banks should welcome such reforms. In practice, the scramble that followed has exposed uncomfortable truths about the structure of bank profitability in Nigeria.
At the heart of the inconsistency is a fundamental misunderstanding often encouraged by the banks themselves between profits and capital. Unknown to many, profitability, no matter how impressive, does not automatically translate into regulatory capital. Primarily, the CBN’s recapitalisation framework actually focuses on money paid in by shareholders when buying shares, fresh equity injected by investors over retained earnings or profits that exist mainly on paper.
This distinction matters because much of the profit surge recorded in 2024 and early 2025 was neither cash-generative nor sustainably repeatable. A significant portion of those headline banks’ profits reported actually came from foreign exchange revaluation gains following the sharp fall of the naira after exchange-rate unification. The industry witnessed that banks’ holding dollar-denominated assets their books showed bigger numbers as their balance sheets swell in naira terms, creating enormous paper profits without a corresponding improvement in underlying operational strength. These gains inflated income statements but did little to strengthen core capital, especially after the CBN barred banks from using FX revaluation gains for dividends or routine operations. In effect, banks looked richer without becoming stronger.
Beyond FX effects, Nigerian banks have increasingly relied on non-interest income fees, charges, and transaction levies to drive profitability. While this model is lucrative, it does not necessarily deepen financial intermediation or expand productive lending. High profits built on customer charges rather than loan growth offer limited support for long-term balance-sheet expansion. They also leave banks vulnerable when macroeconomic conditions shift, as is now happening.
Indeed, the recapitalisation exercise coincides with a turning point in the monetary cycle. The extraordinary conditions that supported bank earnings in 2024 and 2025 are beginning to unwind. Analysts now warn that Nigerian banks are approaching earnings reset, as net interest margins the backbone of traditional banking profitability, come under sustained pressure.
Renaissance Capital, in a January note, projects that major banks including Zenith, GTCO, Access Holdings, and UBA will struggle to deliver earnings growth in 2026 comparable to recent performance.
In a real sense, the CBN is expected to lower interest rates by 400 to 500 basis points because inflation is slowing down, and this means that banks will earn less on loans and government bonds, but they may not be able to quickly lower the interest they pay on deposits or other debts. The cash reserve requirements are still elevated, which does not earn interest; banks can’t easily increase or expand lending investments to make up for lower returns. The implications are significant. Net interest margin, the difference between what banks earn on loans and investments and what they pay on deposits, is poised to contract. Deposit competition is intensifying as lenders fight to shore up liquidity ahead of recapitalisation deadlines, pushing up funding costs. At the same time, yields on treasury bills and bonds, long a safe and lucrative haven for banks are expected to soften in a lower-rate environment. The result is a narrowing profit cushion just as banks are being asked to carry far larger equity bases.
Compounding this challenge is the fading of FX revaluation windfalls. With the naira relatively more stable in early 2026, the non-cash gains that once flattered bank earnings have largely evaporated. What remains is the less glamorous reality of core banking operations: credit risk management, cost efficiency, and genuine loan growth in a sluggish economy. In this new environment, maintaining headline profits will be far harder, even before accounting for the dilutive impact of recapitalisation.
That dilution is another underappreciated consequence of the capital rush. Massive share issuances mean that even if banks manage to sustain absolute profit levels, earnings per share and return on equity are likely to decline. Zenith, Access, UBA, and others are dramatically increasing their share counts. The same earnings pie is now being divided among many more shareholders, making individual returns leaner than during the pre-recapitalisation boom. For investors, the optics of strong profits may soon give way to the reality of weaker per-share performance.
Yet banks have pressed ahead, not only out of regulatory necessity but also strategic calculation.
During this period of recapitalization, investors are interested in the stock market with optimism, especially about bank shares, as banks are raising fresh capital, and this makes it easier to attract investments. This has become a season for the management teams to seize the moment to raise funds at relatively attractive valuations, strengthen ownership positions, and position themselves for post-recapitalisation dominance. In several cases, major shareholders and insiders have increased their stakes, as projected in the media, signalling confidence in long-term prospects even as near-term returns face pressure.
There is also a broader structural ambition at play. Well-capitalised banks can take on larger single obligor exposures, finance infrastructure projects, expand regionally, and compete more credibly with pan-African and global peers. From this perspective, recapitalisation is not merely about compliance but about reshaping the competitive hierarchy of Nigerian banking. What will be witnessed in the industry is that those who succeed will emerge larger, fewer, and more powerful. Those that fail will be forced into consolidation, retreat, or irrelevance.
For the wider economy, the outcome is ambiguous. Stronger banks with deeper capital buffers could improve systemic stability and enhance Nigeria’s ability to fund long-term development. The point is that while merging or consolidating banks may make them safer, it can also harm the market and the economy because it will reduce competition, let a few banks dominate, and encourage them to earn easy money from bonds and fees instead of funding real businesses. The truth be told, injecting more capital into the banks without complementary reforms in credit infrastructure, risk-sharing mechanisms, and fiscal discipline, isn’t enough as the aforementioned reforms are also needed.
The rush as exposed in this period, is that the moment Nigerian banks started raising new capital, the glaring reality behind their reported profits became clearer, that profits weren’t purely from good management, while the financial industry is not as sound and strong as its headline figures. The fact that trillion-naira profit banks must return repeatedly to shareholders for fresh capital is not a sign of excess strength, but of structural imbalance.
With the deadline for banks to raise new capital coming soon, by 31 March 2026, the focus has shifted from just raising N500 billion. N200 billion or N50 billion to think about the future shape and quality of Nigeria’s financial industry, or what it will actually look like afterward. Will recapitalisation mark a turning point toward deeper intermediation, lower dependence on speculative gains, and stronger support for economic growth? Or will it simply reset the numbers while leaving underlying incentives unchanged?
The answer will define the next chapter of Nigerian banking long after the capital market roadshows have ended and the profit headlines have faded.
Blaise, a journalist and PR professional, writes from Lagos and can be reached via: [email protected]
-
celebrity radar - gossips6 months agoWhy Babangida’s Hilltop Home Became Nigeria’s Political “Mecca”
-
society6 months agoPower is a Loan, Not a Possession: The Sacred Duty of Planting People
-
Business6 months agoBatsumi Travel CEO Lisa Sebogodi Wins Prestigious Africa Travel 100 Women Award
-
news6 months agoTHE APPOINTMENT OF WASIU AYINDE BY THE FEDERAL GOVERNMENT AS AN AMBASSADOR SOUNDS EMBARRASSING



