Business
CPC Investigates Grammage Of Sachet Products
Following complaints by consumers, the Consumer Protection Council (CPC) says it has concluded arrangement to commence investigation into the actual grammage of sachet goods against what is obtainable in the markets.
A Deputy Director in the CPC Abiodun Obimuyiwa, who made the assertion in an interview with newsmen in Lagos yesterday, said that consumers had complained that they were being shortchanged by various companies.
“Information reaching our offices showed that consumers feel shortchanged with the goods purchased with their hard-earned money,’’ he said.
Obimuyiwa assured consumers that companies found wanting after the investigation would be sanctioned accordingly.
“If 20 grams is indicated on the sachet of a product, then its quantity must measure up to expectation,’’ he said.
He said that CPC’s major concern was to ensure that consumers get value for their money, noting that something must be done about the concerns of the common man.
However, some Lagosians had told newsmen their concerns about the suspected rip off.
A medical practitioner, Foluwakemi Ekiogawe, told newsmen that the content of sachet products, especially milk had drastically reduced when compared with what was obtainable years ago.
“The content of milk has really gone down meanwhile the price has gone up and I just cannot understand why that is so,’’ she said.
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.
