Nigeria Food and Drink Report Q2 2014

Nigeria Food and Drink Report Q2 2014

Published: April 2014
Publisher: Business Monitor International (BMI)
Product ref: 200650
Pages: 99
Format: PDF
Delivery: Immediate download

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BMI View: We continue to maintain our positive long-term outlook on the Nigerian economy, and food and drink sector over our forecast period, despite some of the obstacles in the near term. We are forecasting that the Nigerian economy will expand by 7.0% in 2014, up from an estimated 6.7% in 2013, owing to continued strong expansion in non-oil sectors. The positive impact of agriculture means that this important sector should contribute strongly to private consumption growth.

Similarly to much of the continent, Nigeria is experiencing a growing middle class, accompanied by economic growth. The increasing spending power of this middle class is being targeted by multinationals who are continuing in invest in the country's food and drink sector.

The long-term outlook remains very bright. We are forecasting average annual real GDP growth of 7.1% over the next 10 years, and expect the Nigerian government to prioritise investment in vital infrastructure over our forecast period and beyond, which will greatly benefit the food and drinks sector, as well as the grocery retail sector.

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By market: Nigeria (in Africa)


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