Nigeria’s booming hair industry offers business opportunities
Nigeria’s booming hair industry is dominated by mostly Asian companies who supply synthetic and real human hair for everything from wigs to weaving. However, in recent times local players are also slowly catching up in this highly competitive market. Wigs and weaves have become the biggest money makers in Nigeria, in an industry dominated mostly by Asian-based companies.
As the countdown for the end of the year season begins and the Christmas mood sets in, most hair salons and beauty parlours in cities like Lagos, Abuja, Port-Harcourt, Enugu etc, are a flurry of activity as customers seek to modify their looks with new hairstyles and wigs. When it comes to artificial hair extensions a woman’s hair speaks volumes about her personality and style. “The hair on a woman is the beauty, without the hair I am not sure one can be totally beautiful, so ladies hair is one of their pride, a woman has to make her hair,” to look presentable. The scramble for quick cash from artificial or synthetic hair has seen several Asian-based companies from as far as China and Japan set up factories in places like Lagos where they make a roaring trade selling their products.
Companies such as Amigo, which invested over $50,000,000 (fifty million dollars) in machinery and infrastructure in Lagos, produce everything from wigs and weaves to human hair extensions which are on high demand in the local market as well as in other African countries. Some imported hair extensions have easily sold for as much as US$1000 – 2500 and buyers are plenty. “Competition is fierce there is a lot of hair out there, different hair manufacturers out there, not just in Nigeria but also coming from abroad especially form China and now Korea, flooding the Nigerian market with all sought ” i think its time we Nigerian wake up and smell the coffee” start investing in artificial or synthetic hairs as well and watch the money flood in” (caution don’t start making fake o! this is low quality products let me put that as a warning because people ”no go” buy fake).