Nigeria’s population is booming, and recent financial reforms are making investors more confident. Could it be a bright spot for breweries as sales decline elsewhere?
Towards the end of our first meeting in Lagos, the fire alarm went off in UBA Tower. We stumbled into the lobby, filed down the stairs, and watched as the 20-storey building disgorged about a thousand financial professionals into the chaotic bustle of the street market below.
It turned out to be a good metaphor for what we had come to report on: Nigeria’s recent financial reforms, and how they’ve inspired confidence in capital markets while causing turmoil at street level.
Absolute scenes on Lagos Island
Specifically, we wanted to explore Nigeria through the perspective of investors in — and consumers of — beer. So a few hours later, we got back in the car for what felt like the millionth time that day and drove over the Third Mainland Bridge to Ikeja. We pulled up to The Carpenters Restaurant and Lounge on Wemco Road, and set about quenching the kind of thirst you develop after spending an hour in some of the world’s worst traffic.
Over bottles of cold lager and stout, Kayode Alfred,...
