Log in or register
Share on LinkedInShare on LinkedIn

ARTICLE · 27 JANUARY 2025

FMCG 2024 Sector Round-up And 2025 Forecast

Stren and Blan Partners
Stren and Blan Partners
Contributor
Stren and Blan Partners

Stren and Blan Partners

Stren & Blan Partners is an innovative and dynamic law firm with a compelling blend of experienced...

View firm profile
Explore more from Stren and Blan Partners

The Fast-Moving Consumer Goods (FMCG) sector in Nigeria suffered setbacks in 2024 due to economic shifts driven by inconsistent Government policies. Several multinational companies like Kimberly-Clark Nigeria.

NigeriaConsumer Protection
Marvis Oduogu
Marvis Oduogu
Chibudike Anene
Chibudike Anene
Ebube Okorji
Ebube Okorji

Abstract

The Fast-Moving Consumer Goods (FMCG) sector in Nigeria suffered setbacks in 2024 due to economic shifts driven by inconsistent Government policies. Several multinational companies like Kimberly-Clark Nigeria, Pick n Pay, and many others exited Nigeria because of these changes, particularly after the free float of the exchange rate and the removal of the fuel subsidy. This led to increased inflation and depreciation of the Naira, prompting intervention from the Central Bank of Nigeria (CBN) to manage the crisis through aggressive monetary policies. Despite the challenges, Nigerian-founded businesses stepped in to fill the void, either by acquiring the businesses of exiting multinationals or creating alternatives. From a regulatory perspective, 2024 witnessed increased regulatory and supervisory activities by regulatory agencies like the Federal Competition and Consumer Protection Commission (FCCPC) that took steps to address issues of overinflation of

We operate a free-to-view policy, asking only that you register in order to read all of our content. Please login or register to view the rest of this article.

Register for freeORLog in

View source

Related Articles

Legal Intelligence Newsletters: sign up for the latest legal and regulatory news on your chosen topics

Read more about

Related Comparative Guides

See more popular content from

Article

Is A No-Refund Policy Legal In Nigeria? What The FCCPA Says

A “NO REFUND” notice on a shop wall, receipt or website does not settle whether a business can lawfully refuse a refund in Nigeria. Under the Federal Competition and Consumer Protection Act 2018 (FCCPA), the answer depends on the circumstances. Consumers may have statutory remedies when goods are defective, unsuitable for a disclosed purpose or materially different from the agreed description, or when a supplier fails to perform a service to the required standard.
NigeriaConsumer Protection
Olisa Agbakoba Legal (OAL)
Olisa Agbakoba Legal (OAL)
Article

2026 Fiscal Policy Measures: Tariff Review, Excise Adjustments, And Trade Policy Updates

The Federal Government of Nigeria has introduced sweeping changes to the country's import tariff structure and excise regime through the 2026 Fiscal Policy Measures, effective from April and July 2026. These reforms, implemented under Nigeria's commitments to the ECOWAS Common External Tariff and the African Continental Free Trade Area, include a revised schedule of 127 tariff lines affecting food products, industrial inputs, and capital equipment, alongside new excise duties and green tax surcharges design
NigeriaInternational Law
Stren and Blan Partners
Stren and Blan Partners
Article

Nigeria’s New Virtual Asset (VA) Tax Regime: Legal And Regulatory Implications For Startups

Nigeria's Revenue Service has issued comprehensive guidelines clarifying how virtual assets are taxed under existing legislation. The framework addresses taxation for individuals and businesses engaged in cryptocurrency trading, virtual asset service providers, and peer-to-peer marketplaces. A notable feature is the requirement to compute gains in US dollars rather than Naira.
NigeriaTax
Stren and Blan Partners
Stren and Blan Partners