Cashing in on Nigeria's facial hair trend

The 30-year-old Nigerian, Jeffrey Okpalaeke is mixing up a fresh batch of the secret blend of essential oils that make up the best-seller in his cosmetics line – Beard & Butter.

Okpaleke started growing a beard in 2012, in keeping with the global trend that saw bearded men grouping themselves on social media as the #BeardGang.

He was in the UK at the time and spoilt for choice with grooming products for men sporting facial hair. When he returned to Nigeria, he found that hair products were almost exclusively targeted at women.

Okpaleke started Beard & Butter in 2017.

He and other players in the male grooming space are on to something. It’s not just beards; manicures, pedicures, haircuts, skin lotions, colognes, and men’s fashion are all experiencing a boom.

The global male grooming product market is expected to reach 76 billion US dollars by 2023 from 58 billion in 2017.

Africa’s youthful population offers companies the chance to target millions of new customers with Unilever, Procter and Gamble, and L’Oreal combing through the space.

Okpaleke says Beard & Butter’s sales have been on a constant increase.

His products sell for between US$15 to US$27 dollars.