Business/Finance
Why Trust Precedes Transactions in Nigerian Market
Every day, new businesses emerge across Nigeria, with many struggling to survive long enough to establish a loyal customer base.
For business owners, the challenge often goes beyond developing quality products or services.
Many constantly research, test and adopt new marketing strategies in an effort to attract customers and keep their businesses afloat.
However, understanding what makes Nigerians buy may require more than applying conventional global marketing theories.
While traditional marketing principles suggest that consumers often make purchasing decisions based on logic and later justify those decisions emotionally, the Nigerian market presents a different set of realities.
For many Nigerian consumers, trust, relationships, reputation, convenience, perceived quality and social proof can play a major role in determining whether interest eventually becomes a transaction.
Conversations with business owners across industries including fashion, beauty, media, wellness and culinary arts, alongside observations from working with founders and brands, reveal several psychological and cultural factors influencing consumer behaviour in Nigeria.
Trust comes before the transaction
In an environment where online scams, counterfeit goods, poor delivery experiences and failed transactions remain concerns, many Nigerian consumers approach purchases with caution.
Before paying for a product or service, customers may ask:
“Will they deliver?”
“Is this original?”
“What if I pay and they disappear?”
These concerns mean that customers often want to know not only what a business sells, but also who is behind the business and whether other people have had positive experiences with it.
The manager of pastry brand Oven & Batter described relatability as an important way of building trust with Nigerian customers.
“One way to build trust with Nigerians is relatability. They patronise when they feel they know you, and the only way to achieve that is to carry them through your ups and downs,” the manager said.
For businesses, showing the person behind the brand, explaining production processes, sharing genuine customer experiences and maintaining transparency can help reduce the uncertainty that exists between interest and purchase.
After all, as the popular Nigerian expression goes, “Naija no dey carry last.” Consumers want to be sure before parting with their money.
Relationships are a powerful marketing channel
In Nigeria, the question, “Who introduced you to it?” can sometimes be as important as the advertisement that first introduced a customer to a product.
Recommendations from friends, colleagues, relatives and members of trusted communities can move potential customers towards a purchase faster than an expensive advertising campaign.
Commerce in Nigeria is deeply relational. Consumers often want to feel recognised, valued and remembered by the businesses they patronise.
Uche Joy, founder of fashion brand Juche Designz, highlighted the importance of customer service in creating such connections.
“Really good customer care service makes customers feel special, and Nigerians like feeling special, even if they happen to be in the wrong,” she said.
When customers develop a positive relationship with a brand, they may not only return but also recommend the business to others.
This makes customer experience an important part of marketing, rather than something that begins and ends at the point of sale.
Popularity can influence perceptions of quality
In the Nigerian market, perception can also influence purchasing decisions.
Businesses that appear established, popular or successful can sometimes inspire greater confidence among prospective customers.
Good packaging, visible patronage and a strong brand personality may serve as signals that a product or service is worth considering.
Augustina Uba, founder of Nailsbyaugust, said Nigerians often associate popular brands with quality.
“Nigerians like patronising high-end names because they equate popularity to quality, and people like patronising a business with personality,” she said.
This relationship between visibility and perceived value can be seen in different aspects of Nigerian social and commercial life.
The preference for crisp naira notes at social events, for instance, demonstrates how money can sometimes function beyond its transactional value.
Fresh notes are often obtained specifically for public displays of generosity and status.
The same principle can influence consumer behaviour, where the appearance and visibility of a brand can attract attention and create an initial perception of credibility.
However, perception alone may not be enough to sustain a customer.
Perception attracts customers, but quality keeps them
A business may use attractive branding, packaging and social media content to get a customer’s attention, but the actual quality of its product or service can determine whether that customer returns.
CrispTV founder, Chimaobi Okolo, stressed that sustained customer retention ultimately depends on the quality of service delivered.
The founder of Wellness Sips by Ebonie similarly pointed to freshness and transparency as important factors in building customer confidence.
“People love to buy quality stuff. At my wellness hub, people like to hear ‘fresh daily’ so they know what they are buying is fresh. Same with juice: once they hear ‘no additives’ and they try it and see it’s true, they are hooked,” the founder said.
For businesses operating in a market where consumers have encountered exaggerated claims or disappointing experiences, consistently delivering what has been promised can become a powerful marketing advantage.
A business may attract a customer with an advertisement, but fulfilling the promise made in that advertisement can determine whether the customer becomes loyal.
Convenience can determine whether interest becomes a sale
Another important consideration is convenience.
Many Nigerian consumers are comfortable with digital platforms, but they may still prefer having direct human interaction before completing a purchase.
Rather than navigating a website, a potential customer may simply send a WhatsApp message and ask:
“How much?”
“Is my size available?”
“When can it arrive?”
This does not necessarily mean Nigerian consumers reject websites or digital commerce.
Rather, businesses need to understand the purchasing journey their target customers find easiest.
For some brands, technology may be most effective when it makes human interaction easier instead of eliminating it completely.
A WhatsApp conversation, for example, can allow a customer to ask questions, negotiate a price, confirm availability and arrange delivery within a few minutes.
Nigerians bargain, but purchasing is not always about price
Price psychology also has a distinct character in Nigeria.
For many consumers, bargaining is almost part of the purchasing ritual. Asking, “How much last?” does not always mean the customer considers the product overpriced.
In many situations, negotiation is simply an expected part of the transaction.
At the same time, genuine urgency can encourage customers who are already interested to complete a purchase.
Messages such as “Price goes up tomorrow,” “Orders close tonight” or “Only three left” can encourage action when the information is truthful and relevant.
However, Nigerian consumers are not necessarily searching for the cheapest available option.
They are often looking for a combination of affordability, trust, quality, convenience, experience and confidence in what they are buying.
Understanding the Nigerian consumer
For Nigerian businesses, effective marketing may therefore require more than copying international trends or adopting the latest social media strategy.
Understanding the local consumer means recognising the cultural and psychological factors that influence purchasing decisions.
Trust matters.
Relationships matter.
Perception matters.
Quality matters.
Convenience matters.
And, sometimes, so does asking, “How much last?”
The businesses that understand these realities can position themselves not only to attract attention but also to build the confidence required to convert that attention into sales.
In a competitive Nigerian market, the transaction may begin with an advertisement, a social media post or a recommendation.
But for many consumers, the decision to part with their money begins much earlier—with the question of whether they trust the person or business asking for it.
Joan Ndulue, a marketing and communications professional, writes from Dealt state.
Business/Finance
Apapa Customs Generates N302bn Revenue in October, Records 7.13% Growth
The Nigeria Customs Service (NCS), Apapa Area Command, has generated N302bn in revenue in October 2026, representing an increase of N20bn compared with the N282bn collected in September.
The command’s Public Relations Officer, Isah Sulaiman, disclosed this in a statement on Thursday, noting that the October collection represented a month-on-month growth of approximately 7.13 per cent.
“The Apapa Area Command generated N302bn in October 2026, representing an increase of N20bn over the N282bn recorded in September 2026. This represents a month-on-month growth of approximately 7.13 per cent,” Sulaiman said.
He described the performance as another significant revenue achievement, noting that the command had surpassed the N300bn threshold following its record-breaking collection of over N323bn in July 2026.
He said the consignments were jointly examined with relevant sister agencies, demonstrating the command’s commitment to preventing the use of Nigeria’s maritime gateway for illicit trade and safeguarding public health and national security.
The Customs Area Controller reiterated that the command would continue to strengthen revenue generation, intensify enforcement operations and build stronger partnerships with stakeholders to improve port efficiency.
He maintained that the command would sustain a balanced approach that protects government revenue and national security while creating an enabling environment for legitimate trade and economic growth.
Business/Finance
Reps Invite CBN Governor Cardoso Over Unpaid Pension Arrears
The House of Representatives has resolved to invite the Governor of the Central Bank of Nigeria (CBN), Olayemi Cardoso, to explain alleged breaches of pension agreements and the non-payment of outstanding benefits to retired employees of the apex bank.
The resolution followed the adoption of a motion on Tuesday titled, “Need to investigate the Central Bank of Nigeria for alleged breach of approved pension agreements, non-implementation of harmonisation policy and exclusion of pensioners from general pension increases.”
The motion was moved by the member representing Igabi Federal Constituency of Kaduna State, Hussaini Jallo, who raised concerns over the alleged failure of the CBN to honour agreements governing the pension entitlements and welfare of its retired employees.
Presenting the motion, Jallo said the alleged non-implementation and faulty execution of the pension harmonisation policy might have created disparities in pension payments and led to the accumulation of unpaid arrears, leaving affected retirees in financial hardship.
He expressed concern that pensioners who depend on their retirement benefits for their livelihood were being denied entitlements allegedly due to them.
“The House is concerned that the alleged non-implementation and faulty execution of the harmonisation policy may have led to disparities in pension benefits and the accumulation of unpaid arrears, ultimately denying rightful entitlements and imposing severe financial hardship on affected pensioners who depend on these funds for their livelihood,” he said.
The lawmaker also questioned allegations that some retired CBN employees had been excluded from general pension increases because of additional or extra-statutory demands that might not align with existing laws, binding agreements or approved pension policies.
Jallo further disclosed that the number of CBN pensioners had dropped from 5,104 in 2011 to approximately 3,000, representing a decline of more than 2,100 retirees.
He said the figures indicated an average reduction of about 140 pensioners annually, warning that the mortality rate could increase as the surviving retirees continued to advance in age.
According to him, prolonged delays in the payment of pension benefits could expose elderly and vulnerable pensioners to poverty, ill health and avoidable loss of life.
He maintained that Nigerians who had served the country deserved fairness, transparency and the prompt payment of all benefits lawfully due to them.
“The House acknowledges the need for legislative oversight to establish the facts, determine the extent of any breaches or administrative failures, and ensure that all eligible pensioners receive their lawful entitlements,” Jallo said.
The motion received overwhelming support from lawmakers during a voice vote conducted at plenary presided over by the Speaker, Tajudeen Abbas.
Following its adoption, the House urged the CBN and other relevant authorities to verify and pay all outstanding pension arrears lawfully due to affected retirees within a reasonable and clearly defined period.
It also called for the extension of applicable general pension increases to eligible pensioners in accordance with relevant laws.
The lawmakers subsequently invited Cardoso and other relevant officials, alongside pension administrators, regulators and representatives of the affected pensioners, to appear before the House and provide explanations.
They are also expected to submit relevant documents to assist the investigation.
The House mandated its Committee on Pension to investigate allegations of non-compliance by the CBN with contractual agreements governing the administration and payment of retirement benefits to its former employees.
The committee is expected to examine the terms and obligations contained in the agreements, particularly the circumstances surrounding the non-implementation of the harmonisation policy, the reasons for the delay and the total amount of outstanding arrears.
It will also investigate the alleged exclusion of eligible pensioners from general pension increases on the basis of extra-statutory demands and determine whether such actions comply with applicable laws, contractual obligations and approved pension policies.
As part of its assignment, the committee will review relevant documents, including contractual agreements, policy circulars, payment records and actuarial reports, to establish responsibility for any administrative failures or breaches.
It is also expected to recommend appropriate corrective measures, including the non-discriminatory extension of applicable general pension increases to all eligible retirees in line with relevant laws and approved policies.
Business/Finance
EFCC Recovers N114m From Cyber Fraud Suspect, Returns Money to Microfinance Bank
The Economic and Financial Crimes Commission (EFCC) has recovered and returned N114 million stolen from a microfinance bank through a cyber fraud scheme.
The commission disclosed this in a post on its official X handle on Friday, stating that the recovered funds were handed over to the financial institution on Thursday.
According to the EFCC, the Acting Zonal Director of its Benin Zonal Directorate, Deputy Commander Sa’ad Hanafi Sa’ad, presented a bank draft worth N114 million to a senior official of the bank, Samuel Ikechukwu.
The recovery followed a petition filed by Ikechukwu in August 2024, after the financial institution discovered that one of its customers’ accounts had been fraudulently hacked and funds withdrawn without authorisation.
The recovery followed a petition filed by Ikechukwu in August 2024, after the financial institution discovered that one of its customers’ accounts had been fraudulently hacked and funds withdrawn without authorisation.
The commission said its investigators traced the stolen money to several suspects, leading to the arrest of one of them, identified as Obumneme Bright.
It added that N114 million was recovered from Bright following his arrest and subsequently returned to the affected financial institution.
The EFCC, however, disclosed that efforts were ongoing to track down and apprehend other suspects allegedly connected to the cyber fraud.
The recovery highlights the commission’s ongoing efforts to investigate financial crimes, recover illicit funds and return stolen assets to their rightful owners.
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