The Nigerian retail market remains fragmented and dependent on informal sales channels such as neighbourhood markets and kiosks, which account for 90% of retail activity. As in most emerging markets, the bulk of household expenditure in Nigeria is directed towards food. But with traditional in-person shopping limited by lockdowns, and many households facing tighter budgets, the sector...
Nigeria Retail
With a population of over 200m, Nigeria is a large and diversified economy, despite the government’s reliance on oil and gas revenue. While the Covid-19 pandemic and subsequent oil price crash caused a contraction in economic growth in 2020, it also led to rapid digitalisation across commerce, education and communication. This shift is expected to put Nigeria in a favourable position for recovery in the medium term.
Displaying 1 - 6 of 36
Interviews & Viewpoints | Juliet Anammah, Chairwoman, Jumia Nigeria; and Chief Sustainability Officer, Jumia Group: Interview from The Report: Nigeria 2022
Articles & Analysis | Expanding middle class fuels retail growth in Nigeria from The Report: Nigeria 2022
Home to the largest consumer market on the continent, Nigeria offers attractive opportunities for investors and retailers that apply growth strategies tailored to specific consumer preferences and take into account distribution challenges. While macroeconomic headwinds and currency volatility have weighed on consumer spending power in recent...
Articles & Analysis | How the pandemic fuelled e-commerce growth in Nigeria from The Report: Nigeria 2022
Although informal physical retail sales continue to dominate the Nigerian market, e-commerce has experienced exponential growth in recent years, culminating in a significant push towards online shopping in 2020-21 in the face of pandemic-induced lockdowns.
With a population of over 200m, Nigeria is a large and diversified economy, despite the government’s reliance on oil and gas revenue. While the Covid-19 pandemic and subsequent oil price crash caused a contraction in economic growth in 2020, it also led to rapid digitalisation across commerce, education and communication. This shift is expected to put Nigeria in a favourable position for recovery in the medium term.
Interviews & Viewpoints | Olaide Agboola, Managing Partner, Purple Capital: Interview from The Report: Nigeria 2019
Articles & Analysis | Underlying fundamentals drive growth in the Nigerian retail market from The Report: Nigeria 2019
Following a decade-long period of growth, in which formal retail supplies more than tripled, Nigeria’s retail sector faced several challenging years. Macroeconomic volatility, a recession in 2016 and the naira’s rapid depreciation impacted retailers and consumers alike. Likewise, both purchasing power and household incomes declined, while...