In Nigeria, weddings are more than grand celebrations—they are a thriving, largely informal economic engine quietly contributing hundreds of billions of naira to the nation’s economy every year.
Industry experts refer to this as Nigeria’s “hidden GDP,” fueled by thousands of small businesses and service providers whose livelihoods revolve around weddings.
According to a 2023 National Bureau of Statistics (NBS) report, the creative and event services sector—which includes weddings—contributes about 2.3% to Nigeria’s GDP, roughly ₦5 trillion annually.
Analysts estimate weddings alone account for ₦1.2 trillion, spanning catering, décor, logistics, photography, music, and fashion.
The 2024 Event Industry Conference Report (EICR) shows a mid-scale wedding in Lagos costs between ₦15 million and ₦25 million, while luxury events can exceed ₦80 million.
Smaller ceremonies in regional cities still inject ₦1 million to ₦5 million into local economies.
With over 20,000 weddings held yearly, the sector provides more than 500,000 direct and indirect jobs, employing planners, tailors, caterers, bakers, makeup artists, drivers, MCs, and content creators.
The Association of Event Vendors of Nigeria (ASEVEN) describes weddings as the fastest-growing informal employer for youth and women.
More than 80% of wedding-related businesses operate outside formal registration, relying on referrals and social media platforms like Instagram and TikTok to reach clients.
The 2024 Digital Economy and Society Index (DESI) notes that over 65% of creative SMEs acquire clients this way, with weddings being the most documented events in West Africa.
Several sub-sectors thrive from wedding demand.
The aso-ebi and fashion segment generates around ₦250 billion annually through fabric sales, tailoring, and embroidery, while catering contributes approximately ₦400 billion, according to the Culinary Federation of Nigeria.
Even finance benefits, with microfinance institutions issuing over ₦80 billion yearly in wedding-related loans.
Lagos hotels linked to weddings contribute about ₦7 billion annually to the hospitality sector.
Experts say the strength of this economy lies in Nigeria’s cultural emphasis on marriage. Weddings are public expressions of identity, status, and family pride—what sociologists call the “economy of celebration.”
This cultural drive ensures continuous spending across hospitality, transport, fashion, catering, and entertainment.
Despite its economic influence, the wedding sector remains largely unrecognised in government planning.
Most states exclude event services from formal development strategies.
The Lagos Creative Economy Policy Draft (2024) suggests that formalising just 30% of the wedding value chain could generate up to ₦150 billion in taxable revenue within three years.
As BusinessDay reports, behind every viral wedding video, elaborate décor, and coordinated aso-ebi lies a complex network of economic activity.
Nigeria’s wedding industry is not just about celebration—it is a resilient private-sector engine demonstrating how culture can drive commerce and sustain millions.
(Businessday)
