Sector
FMCG
Food, beverage, household and personal care manufacturers serving Nigeria's 220m consumers; modern trade scaling fast.
6 sub-sectorsNeutralRisk: Moderate
Market size
₦106.0T
YoY growth
+9.8%
Forecast (12m)
+10.4%
EBITDA margin
14.6%
Sentiment score
+12
Risk score
44/100
Sector summary
Food, beverage, household and personal care manufacturers serving Nigeria's 220m consumers; modern trade scaling fast.
Key drivers
- ●Population growth
- ●Sachetisation
- ●Modern trade expansion
- ●Backward integration
Top risks
- ●FX for inputs
- ●Consumer wallet pressure
- ●Energy cost