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