Nigeria: Food Service - Hotel Restaurant Institutional
This report provides the latest updates in Nigeria’s Hotel, Restaurant, and Institutional (HRI) sector and provides a road map for U.S. exporters wishing to enter the market. While Nigeria has Africa's largest potential consumer base, consumer purchasing power, and patronage of the HRI sector, has been stunted due to a weakened currency, rising import costs, high food inflation, and security concerns. Despite these challenges, hotels are developing more cafés, bars, restaurants, and catering services to attract customers. Quick service restaurants (QSRs) are reviewing menu options to economize and offer lower priced options as eroding purchasing power has made street food stalls a more affordable option. Due to a weakened currency making international travel more expensive, middle class consumers are increasingly looking inside Nigeria to visit nice restaurants, book celebrations, and go on "staycations."