Nigeria Retail

Formal retailing is just getting started in Nigeria, and currently accounts for roughly 5% of the whole market. There are a host of obstacles to growth, starting with the difficulty of acquiring land on which to establish a mall, store or restaurant. Sourcing goods locally is difficult, while clearing imports is expensive and time-consuming. Transporting goods to stores...

Despite the challenges inherent in retailing in Nigeria, the quick-service restaurants (QSR) segment has been growing rapidly. Like many areas of the economy, its long-term potential stands out in a global context because of Nigeria’s sizeable population, currently standing at around 170m. But while investors in most consumer-facing industries are expecting smaller...

The vast consumer market in Nigeria is attracting a growing number of Western fashion and clothing retailers, despite significant challenges in finding suitable mall rental space or standalone properties. While its large population of over 168m – expected to grow to as much as 433m by 2050 according to UN estimates – has a low average disposable...

Vehicle sales in Nigeria are growing rapidly, with automakers seeing double-digit growth over the past year. In order to capture more demand, firms are looking to expand retail detailerships while some are even attempting local assembly. The government has taken steps to support domestic production, but investors say that without greater protections...

With the largest population in Africa and one of the continent’s fastest-growing economies, Nigeria has emerged as a prime market for international retailers targeting its 168.8m citizens as potential consumers of processed foods, mobile phones and cars. While almost all retail is currently conducted in informal markets, international chains are...