Nigerian Brewers: The Benchmark Within The Consumer Space

Solid growth supported by multiple factors

Historically, Nigerian brewers have had one of the highest growth rates within the broader consumer space. Over the five-year period to 2010, the sector’s unit volume grew at an average annual rate (5-year CAGR) of around 12%. This is faster than the average annual growth rate of around 10% that most other names in the consumer sector tend to deliver. The sector’s growth has been underpinned by solid GDP growth, increasing urbanisation and a young population with over 40% under the age of 15.

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