‘Exchange Rate Volatility Threatens Growth Of Nigeria’s Beauty Brands’

Founder of MajesticRoobee, Jonathan Peace, has said that rising production costs and dependence on imported fragrance ingredients remain major challenges for operators in the beauty industry.

She disclosed this in Abuja yesterday at a business forum. According to her, exchange rate volatility has significantly affected the cost of sourcing raw materials.

The entrepreneur also identified perceptions about locally made products as one of the obstacles facing women-owned beauty brands in Nigeria.

“There is still a belief among some consumers that Nigerian-made products are inferior. We are proving that local brands can compete with international standards,” she said.

Peace’s fragrance company, MajesticRoobee, recently launched a new collection to promote women’s wellness, self-confidence, and emotional well-being amid growing concerns about stress and burnout.

She said her products were inspired by the need to help women slow down, reconnect with themselves, and navigate the pressures of modern life.

Peace disclosed that the fragrances are produced in Nigeria using locally manufactured processes and ethically sourced raw materials from around the world.

Participants at the business forum urged women to prioritise wellness and build supportive communities. Lifestyle content creator and influencer Lucy Onyinyechi Ibezimako, popularly known as VibeswithOnyi, commended the brand for placing women’s health and well-being above commercial interests.

Another participant and content creator, Ogomegbunam Ezeghalike, popularly known as Ogom’s Series, described the new fragrances as unique and reflective of individuality. She said self-confidence begins with self-care and maintaining emotional, physical, and spiritual well-being.