Only 18 per cent of retailers in Nigeria have access to formal loans despite 74 per cent of them identifying credit as critical to business growth, highlighting a significant financing gap in one of the country’s largest economic sectors.
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This finding is contained in the FMCG Industry Report 2026 unveiled by Omni in Lagos at the weekend.

The report provided a comprehensive analysis of Nigeria’s FMCG sector, covering financing, distribution, retail operations and the growing role of digital commerce across the value chain.
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The report estimated Nigeria’s fast-moving consumer goods (FMCG) market at approximately $25 billion and highlights continuing challenges around access to finance for retailers and small businesses operating across the sector.
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Speaking at the launch and seventh anniversary celebration, the Founder and Chief Executive Officer of Omni, Deepankar Rustagi, said many retailers remain excluded from formal financial systems despite playing a central role in commerce and distribution across the country.
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According to him, millions of retailers, distributors and small businesses that form the backbone of commerce have historically remained outside formal financial systems despite playing critical roles in local economies.
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He noted that small businesses often struggle to obtain financing because they lack conventional collateral required by banks, even when their businesses are viable.
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He said Omni works with 14 commercial banks and other financial institutions to provide working capital financing to retailers and distributors operating on its platform.

Rustagi also challenged perceptions that lending to small businesses in Nigeria is excessively risky, disclosing that the company’s non-performing loan rate remains below one per cent.
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According to him, many retailers seek short-term financing to replenish inventory rather than long-term loans, creating opportunities for lending models tailored to trade and distribution.
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The report also pointed to the growing adoption of digital payments across the retail ecosystem.

Also speaking, the Minister of Industry, Trade and Investment, Dr Jumoke Oduwole, said Nigeria’s fast-moving consumer goods sector reflects the structure of the economy, linking agriculture, manufacturing, logistics and retail to millions of Nigerians through technology.
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She said micro, small and medium-sized enterprises remain central to economic activity, noting that they number more than 40 million and account for about 80 per cent of retail transactions across the country, largely through informal channels. She also said more than 500,000 MSMEs have been captured in the national MSME database through the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), as part of efforts to support formalisation.
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Oduwole said the retail and distribution system is evolving with technology-enabled platforms, digital commerce, embedded finance and direct-to-retail models, adding that these changes are improving visibility across value chains, reducing inefficiencies and expanding access to working capital for small retailers.
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Responding to stakeholders on challenges facing small businesses, the minister said reforms are aimed at encouraging formalisation through reduced regulatory burdens on MSMEs, alongside ease-of-doing-business and tax administration reforms.
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She added that the government was also working to improve macroeconomic stability, trade efficiency and investor confidence, while deepening private sector collaboration and expanding opportunities under the African Continental Free Trade Area.
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Omni said it hopes the report will provide data and insights for policymakers, investors, manufacturers and businesses seeking to better understand Nigeria’s FMCG sector.