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We Are Leaving Nigeria Soon, Shoprite Reveal Date

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South African-owned retail giant, Shoprite, is edging closer to leaving Nigeria following the disposal of a 100% equity stake in its Retail Supermarkets Nigeria Ltd subsidiary.

The company first announced in August 2020 that it was discontinuing operations in Nigeria, citing a reevaluation of its operating model.

The retailer has now announced in its latest financial report that the terms of sale have been concluded, and awaiting the approval of the Nigerian Federal Competition and Consumer Protection Commission (FCCPC).

The company expects the transaction to be approved by the end of the 2021 financial year after which it will make a clean break from Africa’s largest market after 16 years.

Despite the planned exit, the retailer said it is in the process of concluding a franchise agreement for the Shoprite brand to remain in Nigeria.

This will include an administration and services agreement to provide support to the new shareholders operating the outlets.

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READ ALSO:  Two OOU Female Students Kidnapped, Abductors Demand N50m Ransom

Ojogwu Godwin Chukwudi hailed from Delta State. A young talented personality, Alumnus of Delta State university,Abraka Studied Library and information science. He is an intellectual cyber communicator expert and a prolific blogger professional.

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See what IPOB told DSS about ARMS( Details)

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The indigenous people of Biafra has said it produces it’s arms locally.

 

This was in response to allegation credited to the Department of State services that IPOB was plotting to attack Banks to get money to purchase arms.

The media and publicity secretary of the group Emma Powerful described the allegation as a poor script. Saying their arms are produced locally.

 

While assuring banks in the area of their safety he said IPOB members are freedom fighters not criminals .

 

According to the this was a plot by the DSS to spread wicked propaganda to blackmail Eastern security Network and IPOB and dent our image .

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READ ALSO:  The Director General Of World Trade Orgnizaton Ngozi Okonjo-Iweala Pays First Official Visit To Nigeria
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Nigeria Is Number 1 Importer In Africa- WTO

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The World Trade Organization (WTO) on Friday revealed that Nigeria is the number one importer of commercial services in Africa in 2020.

WTO made the revelation in a data released on Friday.

The Geneva-based international trade organization ranked Nigeria as the 25th commercial importer in the world but the first commercial importer in Africa, followed by Egypt which was ranked 28th in the world.

While Egypt and Morocco made the list of world exporters led by the United States, Nigeria was conspicuously absent in the global commercial exporters’ list.

The US also ranked first in the commercial importers’ list followed by China, United Kingdom and Japan; while US, UK, China and India topped the exporters’ list.

WTO noted that preliminary estimates were based on quarterly statistics.

“Figures for the number of countries and territories have been estimated by the Secretariat.”

“Data for 2020 are not yet available for the United Arab Emirates. In 2019, commercial services exports were valued at US$72 billion and imports at US$73 billion,”

it said.

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READ ALSO:  New COVID-19 Variant Discovered In Nigeria, 15 Other Countries(See Details)
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Living faith Church(Winners) to spend N160 Billion on New 100,000 seater Auditorium.

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The living faith Church founded by Bishop David oyedepo is to spend over N160 billion to build 100,000 seater Auditorium known as “The Ark”

 

Ground breaking ceremony for The Ark was carried out by Bishop Oyedepo in March 2021.

It is sited on about 1,000 hectares of land withing the premises of the current Church building , The ark will specifically accommodate 106,000 seats and will include 24-floor mission Tower made up of two twin towers of 12 floors each.

 

Upon completion the existing 50,000 seaters faith Tabernacle will serve as an overflow facility .

Oyedepo has said members will not be tasked for the project

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READ ALSO:  Benin Republic is Fully Ready To Be Nigeria 37th States_FG
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