Consumer Goods firm, Foodco Nigeria Limited, has officially registered its presence in the Lagos retail space to improve its market share in the sector.
The 37-year-old company, which maintains a strong presence in Ibadan, the capital of Oyo State, explained that its expansion to Lagos would transform the retail landscape through its exclusive offerings and services.
The retail market presently accounts for 16 percent of Nigeria’s Gross Domestic Product (GDP), which also holds a $40 billion growth opportunity by 2020.
Lagos, the commercial nerve of Nigeria is believed to be a major driver of retail expansion, boasting over 134 percent of per capita consumption, reports have said.
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