Nigeria
Sub-Saharan Africa
Discover more about the Nigeria market including overviews about the retail, foodservice, and food-processing sectors.
#1
Most populous country in Africa
236.7M
Total population in 2024
$70.4M
U.S. processed food exports in 2024
Market Overview
Nigeria is the most populous country in Africa and has the largest economy on the continent. Its population is relatively young and urbanizing. Nigeria's population is projected to double to over 400 million by 2050, making it the third most populous country in the world behind India and China.
Important: The country maintains bans on frozen poultry, beef, pork, eggs, vegetable oils, and spaghetti/noodles. Major imports include dairy products, seafood, spirits, soups, bakery ingredients, and food preparations.
Market Opportunities
- Large domestic market of more than 230 million
- Increasing urbanization driving retail food demand
- Western-style retail sector expanding
Key Issues
- Limited U.S. exporter presence in the market
- U.S. products higher priced; strong European links
- High tariffs and import restrictions
Top U.S. Exports (2024)
Retail Sector
$4.7B
Retail sales in 2024
24%
Supermarket growth in 2023
$13.5B
Forecast by 2029
The sector consists of supermarkets, convenience stores, and traditional open-air markets. Changing consumer tastes, demand for convenient foods, and food safety consciousness are contributing to modern retail growth.
Foodservice Sector
While purchasing power has been challenged, hotels are developing more cafés, bars, restaurants, and catering services. Middle-class consumers increasingly visit restaurants and go on "staycations" domestically.
Trend:
Domestic tourism growing due to weakened currency
Food Processing
SMEs dominate with food processing accounting for 22% of manufacturing. About 80% of larger firms are based in Lagos. International brands perceived as higher quality.
Best Prospects:
Wine, spirits, wheat bakery products, food preparations, processing ingredients
Additional Resources
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