Nigerian Beauty Sector Worth $4 billion Annually. The Nigerian beauty sector is projected to worth about 4 billion dollars annually. The disclosure was made at the Beauty West Africa exhibition (BWA) held recently at Landmark event center, Lagos by the organizer of the event and Managing Director, Btob Events, Jamie Hill.
Speaking at the event, Mr. Hill said the exhibition was to expose Nigeria beauty sector to the world for local and international businesses growth. Adding that it was an opportunity for industry players to come together and push their business forward. “We want to export Nigerian products across the world. There is a wealth of business looking to get into Africa to setup local distribution and to help local manufacturing to boost GDP of the nation,” he noted.
On choice of timing, he noted that it was influenced by the global exhibition calendar, so that the big companies around the world are represented in Nigeria. The two days’ event had great local representation with about 70 Nigerian products exhibited among the 200 exhibitors.
“We are excited to work with all of the major trade markets from the Balogun Business Association at the Trade Fair Complex as well as hosting large delegations from Onitsha and Aba markets. We also worked with the key supermarket chains and retail outlets to ensure that our visitors represent a true snapshot of the regional market.” “Our conference program underpins the importance of education and knowledge sharing and is designed to empower local businesses within the sector on navigating the issues faced with new businesses in the sector; from product registration to social media, and exporting to branding,” said Mr. Hill.
According to him, BWA has partnered with Bank of Industry (BOI) to support access to finance by facilitating applications through its website.
Managing Director, Naturally Tribal Skincare, Shalom Lloyd, noted that the brand’s participation has made it an export market, creating employment and empowerment as its ingredients are sourced in Nigeria. “We are offering visitors and industry expert something different, the opportunity to be part of a tribe that makes an impact on our skin, wellbeing and communities through our products.
“This would increase exposure to being stocked in reputable SPAs, Independent retailers and chains, pharmacies and beauty salons,” she said.
The exhibition had a lot of beauty products on display ranging from hair and hair products, makeup, body scrubs and polishes to body foods.