Nigeria: The Changing Patterns of the Fast-Moving Consumer Goods Market
After a successful recovery from the 2016 economic recession, Nigeria is working to enable multisectoral growth and decreasing the country’s dependence on oil revenues. The overall economic development led to the birth of “the emerging Nigerian middle-class population.
Besides having a relatively higher purchasing power, this middle-class has also developed new consumption patterns that have played a major role in directing the Nigerian market.
However, local FMCG manufacturing and retail activities are still at a very early stage of their development, thus offering several opportunities for foreign business interventions and innovation.
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