If whisky distillers are eyeing new markets, then Nigeria should be among those countries. According to recent research by Williams & Marshall Strategy, the young whisky community is expected to see double-digit growth in the coming years. This defies the tumultuous state of the country’s economy, which badly needs economic relief.
Nigeria is a party-loving nation but also culturally entwined with palm whisky and other fine spirits. Among the common trends is the expansion of specialized beverage consumption, which is spearheading the rapid growth and expansion of its whisky community.
The research looked at more than 100 world markets concluding that the US market was the lead consumer of whisky with an annual market value of $18.57 billion in 2023. Although Nigeria does not come close to such figures, it has surprised investors with the growth projection.
The Nigerian whisky market is expected to perform at 11.8 percent per year and defy all economic hurdles and reach $83 million this year. The country is expected to consume an annual 9.89 million liters of whisky by 2027.
One of the most prominent companies operating in Nigeria is Macallan, a premium single malt Scottish whisky distillery. The brand is known for producing top flavors ranging from 12 – 78 year old whiskies.
Nigeria is one of the most populated countries in the world with more than 221 million citizens. In addition, it is the second largest film industry in the world and has become the fashion, technological, and creative center of Africa.