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General News of Friday, 31 December 2021


Nigeria failed to maximize $483bn body care industry — TCBW

Nigeria Nigeria

The Confident Black Women, TCBW, has expressed dissatisfaction over Nigeria’s inability to maximise the opportunities the global body care industry offered.

Speaking during a stakeholders’ meeting in Lagos, Co-founder of TCBW, Mr. Christian Love, said the total global beauty value chain in 2020 was put at $483 billion of which Nigeria failed to take advantage.

He said North America and Asia Pacific continue to be the biggest beneficiary of the industry that is projected to generate $716 billion by 2025.

He said: “What is profound is that the top in the beauty industry is hair care, which is responsible for 24 percent of the $483 billion.

“So if the hair industry is responsible for 24 per cent of the body care industry that is going to grow to $716 billion by 2025, what is the value Africa and Nigeria in particular is going to contribute?”

Love said part of the reason Nigeria was not visible in the beauty value chain was as a result of standard, adding that for Nigeria to be a beneficiary of this huge amount, we need to scale up our standard.

“At TCBW, we want to drive the beauty industry in Nigeria starting with hair and we are working with the National Business and Technical Examinations Board, NABTEB to make hair industry a certified course within the country. Next year, we plan to train at least 1,000 people,’’ he added.

Speaking during award presentation to outstanding stakeholders in Nigeria beauty industry, Country Director for Instant Arewa Hair, Angela Eyekosi said that the recent 120 minutes Hair Challenge hosted by Instant Arewa Hair anf TCBW was to promote the beauty of the hair-making industry.

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