Nigeria Food and Drink Report - Business Monitor International - Industry Reports

Nigeria Food and Drink Report

Nigeria Food and Drink Report - Business Monitor International - Industry Reports
Nigeria Food and Drink Report
Published Aug 06, 2016
77 pages — Published Aug 06, 2016
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Abstract:

High levels of corruption and a poor power supply due to years of underinvestment and limited labour market reforms have crippled Nigeria s productive capacity, constraining non-oil exports. In an effort to support the naira against a weakening balance of payments picture, the Central Bank of Nigeria has resorted to selling off its foreign reserves, and imposing capital controls by preventing the import of certain goods, such as rice and private jets. ...High levels of corruption and a poor power supply due to years of underinvestment and limited labour market reforms have crippled Nigeria s productive capacity, constraining non-oil exports. In an effort to support the naira against a weakening balance of payments picture, the Central Bank of Nigeria has resorted to selling off its foreign reserves, and imposing capital controls by preventing the import of certain goods, such as rice and private jets. Given its large and youthful population, Nigeria boasts an attractive profile for consumer-facing industries. ...However, infrastructure issues have meant that manufacturers have struggled to compete with imported substitutes.

...Nigeria s President Muhammadu Buhari has indicated his intention to invest large amounts into the country s underdeveloped infrastructure. The Nigerian Investment Promotion Commission (NIPC) has estimated that the country s infrastructure requires over USD-.-trn in investment over the next -- years, the equivalent of USD--bn (NGN--,---bn) per annum, or -- of real GDP in ----. ...Nigeria s President Muhammadu Buhari has indicated his intention to invest large amounts into the country s underdeveloped infrastructure. The Nigerian Investment Promotion Commission (NIPC) has estimated that the country s infrastructure requires over USD-.-trn in investment over the next -- years, the equivalent of USD--bn (NGN--,---bn) per annum, or -- of real GDP in ----. Following his election victory, Buhari vowed that his administration would reprioritise capex over recurrent expenditure, which had previously accounted for as much as -- of public spending. ...Following his election victory, Buhari vowed that his administration would reprioritise capex over recurrent expenditure, which had previously accounted for as much as -- of public spending. Thus far, this rhetoric has been backed up with a USD-.-bn concessional loan from the World Bank that is aimed at developing infrastructure in the country s north-east region, which has been devastated by attacks from the insurgent Islamist group Boko

...BMI View: Nigeria s food and drink industry will contract over ---- due to an acute decline in per capita food spending. Over our forecast period, economically priced products will perform well as consumers trade down price points to mitigate rising food costs. ...

  
Source:
Document ID
1749-2858
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Business Monitor International - Industry Reports—Established in 1984, Business Monitor International is a leading online publisher of specialist business information on global emerging markets. Business Monitor's range of quarterly services covers political risk, finance, macroeconomic performance, outlook and forecast, industry sectors and the business operating environment. Each Industry Report has been researched at source, and features latest-available data covering production, sales, imports and exports; 5-year industry forecasts through end-2012; company rankings and competitive landscapes for multinational and local manufacturers and suppliers; and analysis of latest industry developments, trends and regulatory changes.

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MLA:
Business Monitor International - Industry Reports. "Nigeria Food and Drink Report" Aug 06, 2016. Alacra Store. Dec 10, 2016. <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Nigeria-Food-and-Drink-Report-2026-451>
  
APA:
Business Monitor International - Industry Reports. (2016). Nigeria Food and Drink Report Aug 06, 2016. New York, NY: Alacra Store. Retrieved Dec 10, 2016 from <http://www.alacrastore.com/storecontent/Business-Monitor-International-Industry-Reports/Nigeria-Food-and-Drink-Report-2026-451>
  
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