Nigeria

Market research on consumer products, commercial industries, demographics trends and consumer lifestyles in Nigeria. Includes comprehensive data and analysis, tables and charts, with five-year forecasts.

Nigeria StatisticsConsumer Lifestyles in NigeriaNigeria Country BriefingsFuture Demographics: Nigeria in 2030

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    Strategy Briefing

    Strategy Briefing

    Top 10 Energy-Producing Countries in 2030

    Dec 2018

    The energy sector is the key provider for many integral sectors in every economy, such as chemical products, utilities, transport, metal products manufacturing, etc. Over the 2017-2030 period, the energy industry is expected to experience stable ...

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    Country Report

    Country Report

    Baked Goods in Nigeria

    Nov 2018

    Between 2015 and 2017, the depreciation of the local currency due to the recession had a severe impact on the prices of raw material inputs for baked goods, such as wheat and sugar, forcing manufacturers to increase prices. By 2018, in light of ...

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    Country Report

    Country Report

    Breakfast Cereals in Nigeria

    Nov 2018

    Population growth, particularly amongst the young urban population, is expected to help sustain demand for breakfast cereals over the forecast period. As the urban population grows, consumers are expected to continue to shift from traditional ...

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    Country Report

    Country Report

    Processed Fruit and Vegetables in Nigeria

    Nov 2018

    With most processed fruit and vegetables not being essential to cooking in the country, the category saw a slowdown in retail volume and value growth over the review period, due to the depreciation of the local currency (since most of the products in...

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    Country Report

    Country Report

    Processed Meat and Seafood in Nigeria

    Nov 2018

    Processed meat and seafood is expected to continue to see strong growth in Nigeria, driven by the increasing desire for convenient, fast food, due to growing urbanisation and increased work in formal environments. There is also expected to be greater...

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    Country Report

    Country Report

    Rice, Pasta and Noodles in Nigeria

    Nov 2018

    With rising urbanisation expected over the forecast period, rice, pasta and noodles will perform strongly, as urban consumers are more likely to consume these foods than rural consumers. In particular, the convenience which products in this category ...

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    Country Report

    Country Report

    Edible Oils in Nigeria

    Nov 2018

    Given Nigeria’s large population, which enjoys eating fried foods such as fried meat, fried bean cake (akara) and fried yam/potato, demand for edible oils is significant. However, consumption has been dominated historically by unpackaged oils, which ...

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    Country Report

    Country Report

    Ready Meals in Nigeria

    Nov 2018

    Ready meals in Nigeria remained a niche category in 2018, due partly to difficulties refrigerating products as a result of a lack of a reliable supply of electricity. This limits both consumer demand and the ability of retailers to offer such ...

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    Country Report

    Country Report

    Sauces, Dressings and Condiments in Nigeria

    Nov 2018

    While higher prices caused by the depreciation of the local currency served to slow growth over the review period, a return to strong economic growth and stability in the exchange rate will help to drive demand over the forecast period. An increasing...

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    Country Report

    Country Report

    Soup in Nigeria

    Nov 2018

    Western-style soup is not a meal that Nigerians traditionally consume (the only type of soup Nigerians tend to eat is “pepper soup”, but this is largely unpackaged). Thus, the growth of soup is heavily dependent on the (largely Westernised) ...

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    Country Report

    Country Report

    Sweet Spreads in Nigeria

    Nov 2018

    Sweet spreads enjoyed stronger penetration in Nigeria over the review period as demand rose among middle- income households. Rising incomes among some sections of the population and the growth of modern retailing have been key drivers of category ...

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    Country Report

    Country Report

    Charge Cards in Nigeria

    Nov 2018

    Charge cards do not exist in Nigeria. There are no prospects for them to do so in the forecast period....

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    Country Report

    Country Report

    Credit Cards in Nigeria

    Nov 2018

    Prior to the growth path of the economy in 2018, there was a high default rate on credit cards which made many banks stop issuing credit cards to customers. However, with the growth of the economy and an improvement in the salary payments of public ...

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    Country Report

    Country Report

    Debit Cards in Nigeria

    Nov 2018

    The implementation of the cashless policy initiatives by the deposit money banks has strongly increased their customers’ demand for debit cards. The maximum withdrawal limit is restricted to NGN150,000 per day which has made customers without debit ...

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    Country Report

    Country Report

    Financial Cards and Payments in Nigeria

    Nov 2018

    The implementation of the Nigerian government’s cashless policy, which limits the amount of cash that can be withdrawn in a day from a deposit money bank in the country, has boosted demand for financial cards for cash withdrawals from ATMs and card ...

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    Country Report

    Country Report

    Pre-Paid Cards in Nigeria

    Nov 2018

    The increasing unbanked population that cannot meet the requirements of having a bank account and students below the legal age to have an account drove the growth of pre-paid cards in 2018. Growth in 2018 was supported by the growing economy which is...

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    Country Report

    Country Report

    Store Cards in Nigeria

    Nov 2018

    Store cards do not exist in Nigeria. There are no prospects for them to do so in the forecast period....

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    Country Briefing

    Country Briefing

    Income and Expenditure: Nigeria

    Nov 2018

    Since the sharp drop in oil prices in 2016, the Nigerian economy has been struggling. Inflation is still eroding the value of money, and consumers are losing confidence and purchasing power. Also, fundamental issues, such as a lack of major ...

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    Country Report

    Country Report

    Consumer Credit in Nigeria

    Oct 2018

    Economic recession in 2016 and slow recovery in 2017 affected consumer lending in Nigeria due to the fall in the disposable income of most consumers. However, the improvement of the economy in 2018 and reduction in the default rate led to an increase...

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    Country Report

    Country Report

    Consumer Lending in Nigeria

    Oct 2018

    The Nigerian economy is mainly a cash and carry economy with a very poor credit culture, which has contributed to the slow pace of economic development. Consumers make most of their purchases on a cash and carry basis due to the lack of trust and ...

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