Nigeria Retail

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The popular “Africa Rising” narrative has largely been predicated on the emergence of a growing middle class on the continent, providing a steady rise in consumer demand to go with the increased export receipts and lower public debt burdens seen across Africa. But with oil prices falling since mid-2014, along with a rising US dollar and...


The global trend towards more open trade has in recent years faced a number of setbacks, ranging from stalled World Trade Organisation talks to rising protectionism and the UK’s vote to leave the EU. Nigeria is no exception, where a push to increase import substitution, which is intended to reverse a decline in foreign exchange and reduce the...

Chapter | Industry & Retail from The Report: Nigeria 2016

The industrial sector of what is arguably Africa’s largest economy is a diversified group of producers and outputs. With a wide range of accessible feedstock, from agricultural products to hydrocarbons, along with Africa’s biggest consumer market, the possibilities are substantial. The volume of output is small, however, and Nigeria is forced to import most of what it consumes, including the...

Recent investments demonstrate sustained investor interest in e-commerce platforms in Nigeria, which boasts the continent’s largest population and economy. 

An expanding middle-income client base and positive consumer sentiment is underpinning the expansion of Nigeria’s retail sector, helping to attract fresh investment from foreign retailers despite forecasts of slower economic growth.

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...

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