“Nigeria is hot at the moment – we see a lot of demand there. Demand for consulting services is centred mostly around FMCG,” says Hans Kuipers, Principal at The Boston Consulting Group in South Africa.
The Nigerian management consulting market is booming, according to a recently released research from analyst firm Source. Spend on consulting in Nigeria has risen to $106.5 million, and the market is forecasted to continue its impressive growth in the coming years.
The African consulting market is currently estimated to be worth roughly $1.5 billion, with two thirds of the market taking place in the Southern Africa region – South Africa is the undisputed heavyweight champion of the continent. Although the African advisory market is from a global perspective relatively small in terms of size – it for instance is 6x smaller than the UK market (~$8.8 billion) – it has grown strongly over the past years. In 2011 the industry was valued by Source Information Services (Source) at $1.28 billion, following 9% growth in 2012 and 5% growth last year the sector is currently assessed at $1.48 billion.