Fledgling Food Industry Offers Key Players Much Promise

With a population of 160mn, Nigeria is potentially one of Africa's most dynamic markets for low-cost fast-moving consumer goods. Although it is perhaps best known for the dynamism of its beer industry (on the food and drink front), BMI believes that Nigeria's food industry provides promising scope for organic growth. Still in the fledgling state of its development, per capita annual food consumption is expected to come in below US$200 in 2009, the market's promise has attracted top-tier multinationals like Cadbury, Nestlé and Unilever. Through to 2013, the trio will be encouraged by our forecast that food consumption will push

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