BJAN conference tackles rebuilding consumer confidence amid policy challenges, market realities
By Felicia Nwosu/ Abimbola Mohammed
The Brand Journalists’ Association of Nigeria (BJAN) recently hosted its 12th Annual Brands and Marketing Conference in Lagos, focusing on the theme “Rebuilding Consumer Confidence: Addressing Policy Impact and Market Realities.” The event provided a platform for marketing and communications experts to tackle the growing issue of eroding consumer trust and explore strategies to restore confidence in Nigeria’s rapidly changing business environment.
Clara Okoro, Chairman of BJAN, opened the conference with a call for greater transparency in business practices. She voiced concerns about the increasing number of instances where Nigerian consumers have been misled or shortchanged by brands and service providers. “The experiences of many consumers have been nothing short of daunting. From substandard products to unmet service promises, the Nigerian consumer is often left without a champion to fight for their interests,” Okoro stated. She emphasized the need for businesses to adopt consumer-centric strategies in order to rebuild trust and create a more resilient marketplace.
The conference featured a high-profile panel discussion with industry leaders, including Otunba Bimbo Ashiru, Group Chairman of Odu’a Investment Company. Ashiru stressed the importance of stable economic policies in rebuilding consumer confidence, noting that inflation, currency volatility, and global economic challenges had severely impacted purchasing power. He called for measures to stabilize inflation and ensure that price levels are predictable for consumers, highlighting the role of innovation and ethical marketing in fostering trust.
The panel also addressed the role of technology in consumer behavior, pointing out both the opportunities and risks digital tools present. Ashiru cautioned that while digital advancements can enhance transparency, they also expose consumers to fraud and misinformation. He urged businesses and policymakers to collaborate on strengthening consumer protection laws and ensuring that the digital space remains secure for Nigerian consumers.
Akonte Ekine, CEO of Absolute PR, discussed the role of public relations in reshaping Nigeria’s image. Frustrated by the negative portrayal of Nigeria, Ekine stressed the need for a coordinated strategy to counteract international criticisms and promote the country’s resilience. He also emphasized the importance of consistent government policies that align with citizens’ realities, citing unreliable access to basic services like electricity and water as barriers to rebuilding consumer confidence.
Damola Salvador, CEO of Digisplash, focused on the economic challenges affecting consumer behavior, such as inflation, unemployment, and unstable exchange rates. Salvador noted that consumers were increasingly prioritizing affordability over brand loyalty, and warned that the constant stream of negative news was impacting mental health. He called for greater involvement from businesses and consumers in policymaking to reduce the economic strain on Nigerians.
Adetola Odusote, Partner at CMC Connect LLP, highlighted the need for inclusive regulation that considers the impacts of policy decisions on both consumers and businesses. He urged companies to prioritize transparency and engagement, using customer feedback and social media analytics to strengthen relationships with consumers. He also recommended that businesses offer value-driven products and services to meet the needs of an increasingly price-sensitive market.
Victoria Uwadoka, Corporate Communications and Public Affairs Manager at Nestlé Nigeria, praised recent efforts by the government to involve businesses in the decision-making process. She stressed the importance of designing policies tailored to Nigerian consumers, particularly in the face of inflation and economic challenges. Uwadoka also called for greater consumer education and empowerment, urging Nigerians to become more vocal about their rights and demand better services and products.
The 12th Annual BJAN Conference provided a wealth of insights into the challenges and opportunities brands face in rebuilding consumer trust in Nigeria. The event underscored the need for businesses to adopt ethical, transparent practices and for government policies to prioritize the realities of Nigerian consumers. It served as a powerful reminder of the collective effort required from both the public and private sectors to restore confidence and foster a more sustainable marketplace
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