Economic Problems Overshadow Promise of Africa’s Most Populous Country for Big Brands

Many consumer groups on the front line of the global cost of living crisis have assured shoppers that the relentless price increases of the past few years will taper as global inflation cools. But for consumers in Nigeria there is little relief in sight. Nigerian Breweries, which is part-owned by Heineken, has increased prices three times so far this year. So dire is the economic distress in Africa’s most populous nation that the brewer’s chief executive, Hans Essaadi, complained on an investor call that customers can no longer afford Goldberg, a cheap and well-loved lager.

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