The first market research agency in Nigeria was established in the early 1960s. Prior to this, Lever Brothers Nigeria Ltd, now known as Unilever Nigeria Ltd, operated an in-house market research department.
Due to dissatisfaction with the data provided by this internal team, the company decided to establish a professional market research agency. With the support of UAC, a manager was sent to the UK for attachment to Research International, one of the leading global market research agencies.
As a result, UAC sponsored Mr. Bamgbose, one of its managers, to undergo training at Research International (RI) in the UK, learning the essentials of conducting market research surveys.
Upon his return, he founded a research agency called Domestic Research in Ibadan, which became the first market research agency in Nigeria. As the market research industry grew, UAC decided to relocate the agency’s office to Lagos in the first quarter of 1984.
Following this, RI was approached to send an experienced market research executive to Nigeria to enhance the quality of data collected. Mr. Peter Mathias, an experienced market research professional, was seconded to Research Bureau Nigeria, which later became Research Bureau Nigeria Ltd.
In this phase, the name was changed to Research International (RI), and the office was moved to Old Niger House. However, this agency was not permitted to conduct market research surveys for third parties unrelated to UAC or Lever Brothers.
After Mr. Peter Mathias’s departure from Nigeria, Mr. Robert Sutton was again seconded from RI UK to take over as Managing Director of Research International.
As the only agency operating in Nigeria at the time, Research International experienced rapid growth, which led to the recruitment of more expatriates from the UK. Mr. David Kreling succeeded Mr. Robert Sutton as the Managing Director of Research International and managed the agency for two years.
Upon Mr. Kreling’s departure, Mr. Barrie Parker took over as Managing Director. In the early 1970s, as RI was the sole agency conducting market research in Nigeria, a significant gap was created in the industry. Mr. Tejumola, a senior executive at RI, resigned and established RMS to compete with RI.
Following this trend, Dr. Jo Ebhomenye also resigned from RI and founded his own agency, Market Trends Nigeria Ltd, now known as Market Trends International Ltd. These two agencies were the only indigenous market research firms in Nigeria at the time.
As the industry expanded, there are now over 40 privately owned indigenous market research agencies in Nigeria, with the number still increasing.
For over 30 years, Market Trends has remained a trusted presence in the Nigerian market, consistently delivering accurate, high-quality data to clients. While the number of local market research agencies has grown, this expansion has also led to a noticeable decline in quality.
Many industry stakeholders now prioritise profit over client success, resulting in a proliferation of poor-quality data. As a consequence, client behavior has shifted—research consumers increasingly prioritise cost over quality, leading to compromised methodologies and less reliable insights in Nigerian market research.
This issue is further exacerbated by the reduced presence of international research firms, which once helped maintain global standards. Recognising the need for reliable, value-driven research, we have identified five local market research agencies known for their commitment to quality and professionalism.
These agencies continue to uphold industry standards and can be trusted to deliver dependable results.
Top 5 Local Market Research Agencies:
Market Trends International – Founded by Dr. Jo Ebhomenye in 1986, Market Trends is one of the longest-standing indigenous research agencies in Nigeria. The company offers comprehensive research services, specialising in both quantitative and qualitative research methodologies.
Followed by Banahgrace – Founded by Abiola Olaonipekun in 2016, Banahgrace is a local research agency committed to delivering comprehensive insights across various sectors. Known for its client focused approach, Banahgrace provides both quantitative and qualitative research services to support strategic decision-making.
Another one is Deep Dive – Founded by Stella Okpala in 2004, Deep Dive specialises in uncovering deep consumer insights through innovative methodologies.
The company offers a mix of qualitative and quantitative research services tailored to meet the evolving needs of clients in diverse industries.
There is also CMRG – Founded by Lanre Fasakin in 2000, CMRG is a dynamic market research agency focused on delivering actionable data and insights. With expertise in both qualitative and quantitative research, CMRG supports businesses in making informed decisions across multiple sectors.
Finally, Pierrine Research – Founded by Oluwaseyi Adeoye in 2016, Pierrine Research is a forward thinking agency known for its robust methodologies and industry expertise. The firm offers a balanced portfolio of qualitative and quantitative research services, helping clients navigate complex market dynamics.
In conclusion, the history of market research in Nigeria reflects a journey from foreign-led operations to a robust and growing indigenous industry. From the early days of Research International to the rise of local pioneers like RMS and Market Trends International, the industry has experienced significant expansion. However, this growth has also brought challenges, particularly the decline in data quality due to profit-driven motives among some players.
Despite this, a handful of reliable local agencies continue to uphold high standards, providing clients with accurate, actionable insights.
As the demand for high-quality and cost-effective research grows, it is increasingly important for clients to partner with trusted agencies that balance profitability with integrity and professionalism.
The five agencies highlighted—Market Trends International, Banahgrace, Deep Dive, CMRG, and Pierrine Research—stand out as credible firms committed to delivering value driven insights.
Their continued presence and innovation will be crucial in restoring trust and elevating the overall standards within Nigeria’s market research landscape. "Quality insights, trusted partners, better decisions.
