SPEECH DELIVERED BY AKONTE EKINE, CHIEF ANALYST BRANDXCHANGE AT THE 3RD EDITION OF CONSUMERS VALUE AWARDS ON 12TH SEPTEMBER 2024 AT THE RADISSON BLU HOTEL IKEJA
Protocols
Good evening Everyone,
The Executive Governor of Lagos State, Babajide Sanwo-Olu, represented by Mrs Folashade Ambrose-Medebem, Honourable Commissioner for Commerce,Cooporatives, Trade and Investment.
Dr. Olalekan Fadolapo, Director General Advertising Regulatory Council of Nigeria
President Coalition of Nigerian Consumers Association Adedeji Babajide Abiodun
Members of the media here represented
Esteemed brands, valued partners, and most importantly, our empowered consumers.
It is a tremendous honor to stand before you at this 3rd edition of the Consumers Value Awards, an event that continues to elevate and celebrate the essence of consumerism in the country. This evening, we gather to recognize not just the excellence of brands, but the power and voice of the consumer in shaping the marketplace.
This year’s theme, “Empowering Consumers,” is a call to action and a reflection of the pivotal role every consumer plays in today’s economy. Over the past months, we have seen the heartbeat of this empowerment in full display. Following one month of nominations and three months of voting, you—the consumers—have made your voices heard, endorsing the brands that have stood the test of trust, quality, and value.
We all know the current realities in the country. The removal of the fuel subsidy has led to skyrocketing prices across the board, from transportation to essential goods. The cost of living has surged, and inflation has reached double digits, leaving many families struggling to make ends meet. Transportation cost and electricity tariffs have gone up, and the burden on the average consumer grows heavier every day. I do hope I am saying the truth here.
In the face of these economic challenges, we and I mean all of us as consumer are vulnerable—yet resilient. This is why consumer empowerment is more critical now than ever. It’s not just about the right to buy or choose but also the right to be HEARD, TO QUESTION, AND TO DEMAND BETTER. The stories of everyday consumers, like Chioma Okoli, exemplify this. Chioma, and many others like her, have dared to speak truth to power, raising their voices to hold manufacturers accountable for the quality of goods and services they deliver. It is vital that these voices are not silenced. Instead, they should be amplified. Consumers must never be suppressed for speaking out, for their insights and experiences are the true reflection of the marketplace.
Empowering the consumer is a shared responsibility. It is about ensuring that brands listen, adapt, and respect the opinions of those they serve. As brands, we must understand that the consumer’s experience is not just about the product or service—it’s about trust, communication, and transparency. Brands are not just competing for market share; they competing for the loyalty, respect, and confidence of consumers.
To our esteemed brands being recognized tonight, congratulations! You are here because consumers have chosen you. But let tonight also serve as a reminder that this recognition is not an end but a call to continue the journey of improvement, innovation, and accountability. It is your responsibility to ensure that your consumers feel heard and valued, especially during these economically challenging times.
Finally, to consumers, this is our event. The vote is your voice, your power, your right. Consumers are the cornerstone of every brand’s success, and tonight is a celebration of the consumers’ your role in shaping the future of consumerism in Nigeria. The Consumer’s voice is the pulse that keeps the market alive, and brands owe it to Consumers to always deliver value and quality.
Thank you all for being here. Let’s continue to empower one another, for when the consumer is empowered, the entire economy thrives.
Enjoy the rest of your evening, and congratulations to all our winners!
Thank you
