Drinks market share is over N6bn – Balmoral CEO

The Chief Executive Officer of Balmoral Group, Mr. Ezekiel Adamu, has said that the Nigerian drinks industry has a market share of over N6bn.

According to Adamu, whose firm organises the International Drinks Festival, there are not many players in the market, compared to other countries in the world, adding that Nigeria has a consuming population with over 170 million.

He noted that with events like the international drinks festival, consumers were more exposed to newer brands and many options to choose from.

“The value of the Nigerian drink industry is pretty huge, and the industry is a huge employer of labour. An event like the international drinks festival will open room for more employment. More brands will come in and the existing brands will see reasons to expand.

 So, it automatically boosts the economy,” a statement on Thursday quoted him as saying.
He said that the event was like a trade fair and a give-away for most of the major brands that would be running a lot of sales and discounts during that festive period.

“It is also strategic that we’re picking the first weekend in December, because December is the month where we have a lot of events in Nigeria, and you can’t have an event without drinks. We are running promos for the brands. You can’t get your drinks cheaper than at the International Drinks Festival,” he said.

Adamu said that the three-day open-door event would feature 15,000 guests drawn from the hospitality, manufacturing and trading sectors.

He added that it would create a network and business opportunities for brands and people in the drinks sector.

“Local drinks like Zobo, Kunu, will be on display so that international brands can see how well packaged and exportable they are,” he said.

( Punch)