How would you describe the current state of the Nigerian beauty industry and its potential for growth?
The industry is in a fascinating phase; it’s growing incredibly fast and projected to reach $5.8 billion by 2026. This growth is fueled by a young, beauty-conscious population and the increasing demand for locally-made products. Nigerian consumers are looking for products that cater to their skin tones, hair textures and specific beauty needs, and that’s driving local innovation. This trend cuts across music, fashion, and faith-based content. Nigerian youths want Nigerian.
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In terms of growth potential, the opportunities are vast. The digital space has opened up new possibilities for beauty entrepreneurs to reach not just local but global markets. We’re seeing more women and young people turning their passion for beauty into viable businesses, whether it’s makeup artistry, skincare or even beauty tech. To truly unlock the full potential of this industry, we need to address some challenges.
Access to capital is a big one, many small beauty businesses struggle to secure the funding they need to scale. We also need better retail infrastructure to support these businesses locally and more affordable international distribution so they can compete globally. But with the right economic policies that support the local economy to thrive and the continued growth of the middle class, the Nigerian beauty industry has the potential to not only dominate in Africa but also make a significant impact on the global stage.
How would you assess the beauty industry’s contribution to the financial independence of Nigerian women?
It has significantly contributed to Nigerian women’s financial independence, and I’ve seen this firsthand. In a country where economic opportunities can be limited, especially for women, the beauty industry provides a platform that is accessible and scalable. Women across the country, from urban centers to rural areas, are tapping into the industry by becoming makeup artists, beauty brand influencers,beauty consultants, brand owners, skincare specialists, and even product manufacturers.
One of the reasons the beauty industry is so empowering is that it offers a relatively low barrier to entry. With proper training and resources, women can start small and build successful businesses, often from their homes. I’ve seen women who were once dependent on their families or struggling with unemployment now running thriving businesses that not only provide for them but create jobs for others.
In 2013, House of Tara 100 Voices launched a project documenting the stories of 100 primarily female beauty entrepreneurs who had grown their businesses over a few years in a book and through a documentary produced by Kemi Adetiba. These stories and many more continue to reverberate across the world of how beauty has given so many people the opportunity to transform their lives and careers.
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At House of Tara, we’ve trained over 25,000 beauty entrepreneurs, mostly women. Many have become financially independent and even expanded into other areas like beauty retail and training. This industry is not just transforming lives; it is giving women the confidence and means to control their financial future. The potential for more impact is enormous, but we must continue to invest in training, provide access to capital and ensure that women in the industry are supported through mentorship and networks. The beauty industry is not just about products, it’s about the economic power that it provides and it’s already changing the narrative for Nigerian women.
What collective actions are needed to put women on their path to economic power?
We need collective action on multiple fronts to achieve this. First, education and skills training are crucial. Women must be equipped with business and technical skills, across all sectors. Programmes that provide mentorship, practical training and access to resources can make a significant difference. For example, we’ve focused on training women not just as makeup artists but as entrepreneurs who understand how to run successful businesses.
Secondly, access to finance is critical.
Many women struggle to scale their businesses due to a lack of capital. Research confirms that micro, small, and medium-sized enterprises owned by women globally are underfunded by $1.7 trillion. We need to create systems that make it easier for women to access loans, grants and other forms of financial support. This includes government initiatives and partnerships with financial institutions to provide affordable funding and create environments where women-led businesses can thrive.
Third, we need policy advocacy. Collective action from governments, NGOs and the private sector can push for policies that support women entrepreneurs, whether through easier registration processes for businesses, tax incentives or protecting their rights in the workforce. Encouraging female representation in leadership positions across industries can inspire and create more opportunities for others.
Finally, we must continue challenging stereotypes limiting women’s roles in business and leadership. It’s not just about getting women to start businesses but ensuring they are encouraged, respected and supported as they grow. When we lift one woman, we lift families and communities, and that creates a ripple effect of economic power.
Research shows that globally, nearly one in three entrepreneurs running established businesses is a woman. What barriers did you face as a woman in your field and how did you overcome?
I faced several barriers breaking into the beauty industry in Nigeria; one of the biggest was navigating a market that wasn’t fully established. When I started House of Tara, the concept of professional makeup artistry and beauty entrepreneurship was still new in Nigeria. Many didn’t take it seriously and there was skepticism about whether it could be a viable business.
Convincing people of the importance and value of this industry required persistence and a lot of education.
Another barrier was access to finance. Like many women entrepreneurs, I struggled with securing the funding necessary to grow the business. Financial institutions at the time weren’t as open to giving loans to women in non-traditional industries, so we had to bootstrap and reinvest every Naira we earned. Overcoming this required careful financial management, building a track record of success and gradually winning the confidence of partners and investors as we grew.
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There were also societal expectations. As a woman, there’s always the balance between managing a business and fulfilling traditional roles as a wife and mother. It took intentional effort to build a support system, both at home and within my business, that allowed me thrive in both areas. Surrounding myself with mentors and like-minded women in business also helped. Ultimately, I overcame these barriers through resilience, faith and staying true to my vision. As House of Tara grew, it became a platform to inspire and support many more women to follow their own entrepreneurial paths. The key is never giving up, even when the odds seem stacked against you.
It’s no secret that to drive systemic change, we need policies; how can initiatives like the “Her Money, Her Power” campaign contribute to driving the much-needed change in our society?
The ‘Her Money, Her Power’ campaign is incredibly impactful because it addresses one of the most critical drivers of systemic change, economic power for women. When women have financial independence, they gain the power to make decisions that affect their lives, families and communities. Initiatives like this campaign don’t just give women access to resources; they help break the cycle of poverty and dependence that holds so many women back.
At a broader level, it highlights the need for policies that create equal opportunities for women in career, business and finance. For instance, policies that promote access to credit, financial literacy programmes and legal protections for women entrepreneurs can have a long-lasting impact. But beyond financial support, these initiatives also play a crucial role in changing societal mindsets. It normalises the idea that women can be decision-makers and leaders. The more we push for systemic policies and encourage initiatives like this, the more we’ll see real, lasting societal change.
What lessons can be learned from the success stories of global beauty entrepreneurs like Rihanna and Selena Gomez, who have achieved billionaire status. How can our Nigerian counterparts achieve such magnitude of success?
One of the biggest takeaways is the importance of building inclusive brands that reflect consumer needs. Rihanna revolutionised the beauty industry by creating products that catered to a wide range of skin tones, addressing a gap that had long been ignored. Selena Gomez, on the other hand, has focused on mental health advocacy through her brand, which has resonated deeply with consumers. Both women built their brands around purpose and authenticity, which are critical for long-term success.
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Another lesson is the power of leveraging a global platform. Both women already had a massive audience and influence from their careers in music and entertainment. They used that platform to enter the beauty industry with a built-in customer base. Nigerian beauty entrepreneurs can learn from this by thinking about how to scale their businesses beyond local markets, utilising digital platforms to reach a global audience.
As for what’s stopping Nigerian counterparts from achieving that magnitude of success, I believe it’s a mix of factors. Access to capital is a significant hurdle. Many of our local beauty entrepreneurs struggle to secure the kind of funding needed to scale their businesses to a global level. Infrastructural challenges and limited access to international markets are also significant barriers. However, we’re seeing progress. Nigerian beauty brands are gaining recognition both locally and internationally. What we need now is more support in terms of policy, investment and mentorship to take these brands from national successes to global powerhouses. With the proper support and vision, there’s no reason why Nigerian beauty entrepreneurs can’t achieve the same level of success as Rihanna or Selena.
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