Adapting to market headwinds in nigeria’s FMCG sector

Nigeria’s fast-moving consumer goods (FMCG) sector, one of Africa’s largest, encompasses the production and sale of essential items such as food, beverages, personal care, and household products.

Adapting to market headwinds in Nigeria’s FMCG sector

In this in-depth exploration of Nigeria’s fast-moving consumer goods (FMCG) sector, a powerhouse in Africa’s economy, BusinessDay Intelligence looks at one of the continent’s largest industries, it spans essential products like food, beverages, personal care, and household goods, all critical to daily life. The sector thrives on Nigeria’s youthful, urbanizing population, whose consumption habits are rapidly shifting.

Nigeria’s fast-moving consumer goods (FMCG) sector, one of Africa’s largest, encompasses the production and sale of essential items such as food, beverages, personal care, and household products. The sector is a key driver of economic activity, fueled by the country’s youthful and increasingly urban population whose consumption patterns are evolving. However, the industry faces significant challenges, including a highly price-sensitive market, as 63% of Nigerians were classified as multidimensionally poor in 2023.

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