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June 8, 2017

Nigerian Brewers: Value brands now in the front line

Macro headwinds impeding growth Nigerian brewers have had a challenging H1 2016 (end-June). Although we estimate that the sector’s unit volume grew by mid-single digits y/y over this period, most of the growth was driven by the value segment. For the mainstream category, beer consumption contracted in response to macro headwinds, including the persistent depreciation of the naira and inflationary pressures. The resulting squeeze on household wallets ultimately led to consumers down-trading to cheaper products and a re-categorisation of the beer market. Given a volume price mix tilting towards value brands, Guinness Nigeria, International Breweries and Nigerian Breweries reported average sales growth of 5% y/y in the January to June period. Click here to view the summary: FBNQuest Economic Outlook Please email the research team to access the full report*

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October 4, 2016

Nigerian palm oil sector: Still a promising growth story

Favourable prospects for the Nigerian palm oil sector… With a supply gap of about 500,000 metric tonnes (mt) and fertile...

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September 28, 2016

Nigerian Oil & Gas: Capitalising on market dislocations

Significantly improved fundamentals Nigerian major oil marketers have recorded significant gains in 2016, a year in which other sectors continue...

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September 26, 2016

Nigerian Cement: Forging ahead through macro headwinds

Strong but varied unit volume growth in H1 2016 Sector-wise, unit volume growth for Nigerian cement companies in H1 2016 was...

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