Business
BATCO Fights Back Over Campaign Against Tobacco
British American Tobacco Company (BATCO) has rejected accusations of so-called “industry interference” in public health policy making by the World Health Organisation and anti-tobacco campaigners promoting “World No Tobacco Day.”
Indeed, the company defended its right to engage transparently on issues affecting its legitimate business selling a legal, highly regulated product that many adults choose to use.
The Director of Corporate and Regulatory Affairs, BATCO, Kingsley Wheaton, said: “Put simply, we’re just saying that we should be allowed to express our views on issues that affect our business. Some might not agree with what we say, but we think we have the right to be heard- as does any other business or anyone else involved in the debate.
“We understand that some people don’t like smoking. And it’s their right to feel like that. Many adults, however, enjoy smoking and will continue to do so and it’s their right to do that too. We sell a controversial product, but it’s a legal one.
“We comply with regulation and contribute to the economies of more than 180 countries worldwide – not only through the tens of billions of pounds in tobacco taxes paid to governments each year but also through the 56,000 people we directly employ and the hundreds of thousands of others employed indirectly by the industry.
“We report openly and transparently about the work we do around the world and our efforts to engage decision makers to aid their understanding of unintended consequences of some regulation.”
“Despite this, some “World No Tobacco Day” campaigners are attempting to convince governments they should not engage with the legitimate industry, labelling it “industry interference”.
Wheaton added: “It appears to us as if some within the tobacco control community are lobbying governments to view any engagement with us as “industry interference”- an approach we view as deceptive and one we firmly challenge.
“The World Health Organisation Framework Convention on Tobacco Control does not in fact instruct governments to stop engaging with the tobacco companies and there are many governments worldwide who see the importance of getting a proper understanding of the impacts of regulation from the industry before making policy.
“We will continue to engage transparently on issues that affect our business. And who would you rather was running this business? The underground criminals with terrorist links who don’t care how young their customers are or what they sell to them? Or a fully accountable organisation, selling a legal product, that has to meet strict product quality standards?”
Credit to Nigeria’s private sector rose to N83.26 trillion in June 2026 from N81.04 trillion in May, signifying a positive balance of N2.22 trillion month-on-month.
Year-on-year, the figure represents a nine per cent increase compared with the N76.13 trillion recorded in June 2025. The latest figures come as the CBN continues to balance efforts to control inflation with the need to support economic growth and expand credit to businesses.
The CBN data shows that credit to Nigeria’s private sector increased by approximately 2.74 per cent month-on-month between May and June 2026. Also, the CBN data noted that credit to the government fell slightly to N40.03 trillion from N40.38 trillion. Other assets, net, dropped to N10.76 trillion from N12.63 trillion.
The credit surge signifies sustained growth in lending to businesses and other private-sector borrowers during the month. The rise in private sector credit was recorded alongside an increase in net domestic credit, despite declines in credit to government and other assets.
Further analysis of the report says that compared with June 2025, private sector credit rose by about N7.13 trillion yea-on-year but net domestic credit increased by approximately N1.87 trillion during the month.
The CBN’s relatively tight monetary policy stance notwithstanding, more banks still loaded funds to the private sector within the period. The Monetary Policy Committee (MPC) of the Central Bank of Nigeria (CBN) held its 306th meeting on July 20 and 21.
The Committee reviewed recent developments in the global and domestic economies, assessed emerging risks to the outlook and considered their implications for monetary policy and retained all rates.
The Committee decided to retain the Monetary Policy Rate at 26.5 per cent; the Standing Facilities Corridor around the MPR at +50/-450 basis points and retain the Cash Reserve Requirement (CRR) for Deposit Money Banks at 45.00 per cent, Merchant Banks at 16.00 per cent, and non-TSA public sector deposits at 75.00 per cent.
The MPC decision means that credit extension in the private sector will likely continue to rise because of rising confidence in the sector and calls by stakeholders for banks to invest in the private scetor instead of government securities.
