The value of Nigeria’s cosmetic retail sales grew by an average of 14.5 per cent last year and added hundreds of billions of naira to the economy, a report by Euromonitor has stated.
The report was shared by the President of the Society of Cosmetic Scientists of Nigeria (NICOS), Grace Abamba at the organisation’s yearly conference in Lagos.
The sector recorded a turnover of N1.034 trillion in the year with mass beauty/personal care controlling 45.5 per cent or N470 billion in absolute figures. Skincare followed with N128 billion.
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