'WINE CONSUMPTION IN NIGERIA GREW FROM 18.8 MILLION LITRES IN 2006 TO 44.3 MILLION LITRES IN 2011'

Nigerians are among the top drinkers of the world. The country spends an average of N41.41 billion on champagne yearly, placing it among the top 20 champagne markets in the world, according to a report by Euromonitor International. With a total champagne consumption of 752,879 bottles (75cl) in 2011, the report said Nigeria is downing more of the luxury drink than Russia and Mexico. In 2010, the figure was about 593,000 bottles, dwarfing South Africa’s 384,000 bottles to maintain the position of the highest consumption in Africa.

The report indicates that Nigeria is the second fastest growing market in the world for champagne, noting that between 2006 and 2011, it achieved a compound annual growth of 22%. The report is bound to increase interest among European wine producers in the Nigerian market. Wines of South Africa (WOSA), an association of South Africa’s wine exporters, has also seen Nigeria as a promising market. But, speaking to BusinessDay, Rasheed Gbadamosi, a former economic adviser, has urged importation of grapes for local production.

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money wasting generation !