Nigeria’s leading research firm, Coronation Research has released its 2019 Consumer Report titled, ‘Power to the Price Point.
Guy Czartoryski, Head, Research, Coronation Merchant Bank, said in this report, Coronation Research asks the question: if Nigeria’s population is growing at 2.6% per annum and the urban population is growing at 4.6% per annum, shouldn’t food and consumer product sales, in inflation-adjusted terms, be growing at between 2.6% and 4.6% per annum?
“A close look at some of the players within the sector reveals Nestle Nigeria has shown positive inflation-adjusted growth over the past eight years, but the record for Flour Mills of Nigeria, Unilever Nigeria and PZ Cussons Nigeria is open to question. “To answer these questions, Coronation Research devised a model household living on a modest income in Lagos and sent them shopping in outer Lagos. The shopping basket they brought back has not so pleasant news for the main listed companies.
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