This report presents a detailed picture of the key factors driving changes in consumer lifestyles in Nigeria, from demographic changes, income, urbanisation, household structures, through to access to services, household assets, media uptake and the growth of the middle class and retail market.
Reasons to buy
Access complete, comparable and accurate data on changing consumer demographics and lifestyles
Understand the size, shape and growth of the consumer market and what is driving growth
Identify how consumer lifestyles will develop, what this means for the consumer class and how it impacts on future opportunities
Nigeria is the largest country in Africa, both by the size of its economy and the size of its population. Between 2003 and 2013, the size of the population increased by more than 40m people – the equivalent of adding a country the size of Kenya, Algeria or Poland to the existing population. But the real growth is yet to come: by 2050, Nigeria will number more than 440m people.
Around 9% of households own a car, and 3.4m households have a car, although many wealthier households operate multiple vehicles. Cars remain expensive, especially due to high import taxes, although the Nigerian government is making a big push to increase sales of Nigerian-made vehicles.
Using income as a benchmark, there were 7.3m members of the consumer class in Nigeria in 2013 – that is those consumers on incomes of more than $4 per day in $2005PPP. By contrast, 68.0% of the population live on incomes below $1.25 per day in $2005PPP, and 84.5% live below $2 per day in $2005PPP.
Key questions answered
How will the consumer market change in the future?
What are they key trends in consumer lifestyles?
What assets do consumers own and how quickly are they adopting digital lifestyles?
What is the size of the emerging consumer class?
How is thet retail market developing?
How will consumer lifestyle trends shape the market?