By Godfrey AKON
The Nigeria Society of Cosmetic Scientists, NICOS, says its forthcoming cosmetic exhibition dubbed “Cosmetics Connect” would bring together stakeholders who would increase confidence in locally made cosmetic products to grow sales across Africa and beyond.
Founding President of NICOS, Mrs Grace Abamba, in a statement on Thursday, described the 2-day “Cosmetics Connect” as a major networking event that will provide an excellent forum for investors, suppliers, manufacturers, distributors, services and government bodies and NGOs to exhibit and interchange good business practice through seminars and business accelerator workshops.
Abamba disclosed that “Cosmetics Connect was born out of the identified need to continually improve the quality and efficacy of cosmetics to satisfy the underdeveloped potential of the Nigerian cosmetics market opening doors to the AfCFTA and beyond.”
She said speakers at the November 19-20 event will come from the Small and Medium Enterprises Development Agency of Nigeria, SMEDAN, Nigerian Export Promotion Council, NEPC, Bank of Industry, BOI and members of the host organisation, NICOS.
Speaking on NICOS, she said “The Society of Cosmetic Scientists Nigeria (NICOS) is the scientific hub for Nigerian cosmetic scientists around the world. Elevating African Beauty through Science.
“Affiliated to the International Federation of Societies of Cosmetic Chemists, IFSCC, we are a not-for-profit organisation, governed by our NICOS Council, a group of people appointed to make decisions in the interest of the Society.
“The primary aim of the Society is to promote the advancement of science and technology in the cosmetics and personal care industries in Nigeria and the diaspora.”
She urged delegates at the event to register for the business accelerator workshops covering topics on product formulation, product registration and creating export-ready products.
According to her, cosmetics are essential to everyday living as everyone uses them to promote personal hygiene and a strong sense of well-being.
Abamba further disclosed that the global cosmetics market is valued at 502 billion USD and projected to reach 758 billion USD by 2025.
“The Africa Cosmetics Market is valued at just 8% of this and closer to home in Nigeria the market is valued at 1.4billion USD in terms of revenue (Statistica) Apart from the multinationals, the local market is supplied by medium-sized to micro businesses producing cosmetic raw materials such as shea and cocoa butters and finished products from private local brands,” she said.
