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Beauty West Africa Show Forecasts $5.8bn Investment Surge In Nigeria’s Cosmetic Industry

Jamie Hill, the Managing Director of BtoB Events Limited, the organiser of the annual Beauty West Africa show, has highlighted the potential for Nigeria’s cosmetic industry to soar to $5.8 billion by 2026.

This optimistic projection was shared during the opening day of this year’s Beauty West Africa exhibition held at Landmark Centre, Victoria Island, Lagos, which commenced on Tuesday, 28th of November.

The exhibition, hosting over 200 exhibitors from around the globe, including countries like China, Pakistan, Egypt, and others, has been deemed the largest so far. Hill emphasized the significant role the Nigerian and West African markets play, with the beauty industry already contributing a substantial $5.28 billion to Nigeria’s economy.

Hill, the Managing Director of BtoB Events, highlighted the exhibition as a crucial business platform, fostering international partnerships. He encouraged attendees to leverage the offerings of exhibitors, emphasizing the potential for growing made-in-Nigeria brands, supporting SMEs, and attracting international brands to manufacture within Nigeria, thereby boosting the country’s GDP.

“This exhibition has demonstrated that Nigeria is still a strong market with a lot of demand for its products and services. This emphasized the importance of companies investing in local industries and opening more manufacturing outlets to complement government efforts on employment creation.

“The exhibition was a good opportunity for exhibitors who had not visited Nigeria or West Africa to see that Nigeria is a safe place that is ready to host the world.

“So, whether it is by service or production, people will be engaged. Even if it’s a small store, you are still going to engage people. We welcome all foreigners who are interested in the Nigerian market. They are encouraged to come and do business in Nigeria,” he said.

Exhibitors, excited about the vast opportunities in the Nigerian market, expressed their readiness to utilize the platform provided by the exhibition to achieve their business goals.

Saysom Wu, the Sales Manager for Bingo Hair Cosmetic Corporation, Hong Kong, highlighted their commitment to deepening the penetration of their products in the Nigerian market, recognizing their immense potential.

“Our extensive product range includes hair care, skincare, body care, and more, offering comprehensive beauty solutions. Whether looking to enhance the health and beauty of hair, rejuvenate skin, or indulge in a comprehensive body care treatment, we provide a wide selection of high-quality and innovative options.

“We understand the potential in the Nigerian market and we’re here again to create further excitement about our products,” he said.

Exhibition Manager, Ken Baber also encouraged investors stating Nigeria remains the hub of Africa’s economy.

“This event aims to encourage manufacturers and Nigerians to recognize it as the central hub of exhibitions. The market is thriving, and there is significant potential in the country. There is a reason why we have chosen Nigeria. The market is expanding rapidly, and it will inspire manufacturers to do more.

“We have over 350 companies and 5,000 exhibitors, and we are confident that next year’s event will be even bigger. Our message to Nigerians is that we are here for them, and we want the world to know that we can achieve amazing things together,” he said.

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