Nigeria Retail

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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...

 

What are the greatest hurdles e-commerce firms face in expanding their client base in Africa?

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...

Chapter | Retail from The Report: Nigeria 2015

Formal retailing is just getting started in Nigeria, and currently accounts for roughly 5% of the 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, finding staff and winning...

With a huge consumer market, growing economy and increasingly urbanised population base, Nigeria represents one of the biggest opportunities for the retail sector in Africa. However lingering concerns over select risk factors, including tariffs imposed on the industry, may affect investment in the near to medium term. 

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...

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