Business
Union Seeks NAFDAC Probe Of Fanta, Sprite
The leadership of the National Union of Food, Beverage and Tabacco Employees (NUFBTE) has demanded for scientific investigations by the National Agency for Food and Drug Administration and Control (NAFDAC), into the Sprite and Fanta soft drinks produced by the Nigeria Bottling Company (NBC).
A statement obtained at the Union’s Secretariat in Port Harcourt on Wednesday and signed by the union’s National President, Comrade Lateef Oyelekan, said, it is incumbent on NAFDAC to carry out proper scientific investigation to ascertain the level of the chemical contents in both drinks to reassure Nigerians patronizing the NBC’s brands.
Oyelekan, pointed out that, NAFDAC had filed an appeal and a motion stay execution of a judgment on Sprite and Fanta as a way of reassuring Nigerians that final analysis has not been carried out yet on the brand of drinks before the court judgment.
The labour leader called for caution on the reactions of Nigerians to the judgement over consumption of Sprite and Fanta along with vitamin C, stressing that, such negative reaction might impact negatively on workers and to a large extent on NBC as a major investor in the country.
He added that, the negative publicity being given about the firm’s brand of product could endanger its corporate profile and ultimately threaten workers jobs thereby throwing thousand of workers into the labour market at this period of economic recession in the country.
He explained that, NAFDAC had a track record of doing wonderful scientific investigation and could not have faltered in its responsibility in relation to the issue at hand with the lives of Nigerians.
He expressed optimism that, the Agency would ensure that both drugs and foods consumed in the country are safe, adding that, the Agency’s track records speak volume of their effectiveness to discover contaminated products and raised alarm against product consumption by Nigerians.
Oyelekan, emplasized that Fijabi Adebo Holdings Limited ought to have notified NBC of the company’s intention to export their products to the United Kingdom bearing in mind that every country has its own standard regarding manufacturing and investment.
The NUFBTE boss called for understanding by Nigerians towards the NBC brand of drinks pending the outcome of scientific investigation and appeal filed by NAFDAC against the judgement.
It would be recalled that, an lgbosere High Court in Lagos recently ordered NAFDAC and NBC Plc to carry a mandatory warning on the company’s Fanta and Sprite products stating that, the contents should not be taken with vitamin C in order to avoid poisoning.
Fijabi Adebo Holdings Limited had tried to export Fanta and Sprite bottled in Nigeria to the UK before British authorities seized and destroyed the product for being poisonous by containing excess level of benzoic-acid and sunset additives.
Philip Okparaji
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.
