According to the research firm, Nigeria spent an estimated $59m (N9.4 bn) on champagne in 2012, a remarkable rise from $49m (N7.8bn) in 2011. It also projected that the value could rise to $105m (N616.8bn) or 1.1 million litres consumption by 2017.Not that the statistics would bother many Nigerians who have the cash to spend every time. At some retail shops visited by our correspondent, the retail price of Remy Martin is between N6,000 and N7,000; a Moet & Chandon, one of the most popular champagne brands, ranges from N7,650 to N15,000; while other brands such as Ayala, GH Mumm, Perrier Jouet, among others, range from N9,000 to N33,000.
In general, the cost of champagne brands range from N8,000 to N150,000, depending on what brand a consumer prefers. Only last year, a new brand of champagne called Angel, made its way into the country and was advertised for N650,000. According to the producers, the drink was meant for high-class people around the world.