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Nigeria: Retail’s “Sale of the Century”

Briefly, Foreign Direct Investment reports…

The early success of the Nu Metro Media Store in Lagos, which opened in Junethis year, selling books, music CDs and DVDs, was the first proof of the massive
pent up demand for world-class retail that exists in Nigeria. Until then, the
largely-untapped buying power of Nigeria’s 130-million strong consumer market
had gone untested. In the face of a maddening number of challenges of setting up
business in the country, it is this virgin market that is one the greatest draw
cards. Before Nu Metro, there was nothing in the retail space that could be
described as modern let alone world-class. For Nu Metro’s owners, Johnnic
Communications, the push into Nigeria – which includes taking a stake in local
newspaper Business Day – has not been without frustration.

Link to article…