Wal-Mart has indicated intention to expand its oprations to Lagos State.
Wal-Mart, one of the world’s largest retail sales outlets based in the United States has indicated intention operational to expand its base in Nigeria and the state in particular. Wal-Mart currently has seven stores in Nigeria, trading as ‘Game and Valumart’. It has 11, 462 stores under 71 banners in 28 countries, with a total fiscal 2015 sales of nearly $486 billion.
A delegation of the company, comprising top management staff was in Alausa where they briefed Akinwunmi Ambode of their intention to train at least 4,000 Nigerians and employ at least 50 percent in the retail sector.
Speaking during the courtesy call, President Wall-Mart Europe, Middle East, Africa and Canada, Mr. Shelley Broader said that Wal-Mart foundation focuses on lowering the cost of living through economic empowerment of people.
“We are doing some very exciting things in Nigeria. One of them is the EARN programme, which is the Empowering Africa for Retail Now and through this programme 6000 Nigeria youths will be trained on the basics in the service business, on how to handle cash, how to make changes, how to handle customer conflicts and how to present themselves in work place and how to continue to learn and advance their career”, he said.
While receiving the delegation which also includes CEO Mass Mart Group/Wal-Mart Africa, Mr. Guy Hayward, West Africa Executive, Game Stores- Wal-Mart, Mr. Sylvester John, and its Operations Director, Mr. Richard Fuller, the Lagos State Governor said Wal-Mart has been up and running since 1962.
“As we speak, we have a population of over 21 million people and four million of that population is in the middle class. We have a bulging youth that is craving for employment and whatever it is that we do, we want to make sure that we attract as much investment in Lagos that can help us to take our youths off the streets and give them employment”, he said.
He told the delegation that he is in government to offer investment clime favourable to investors. “We want to ensure that whatever it is that would make the business bigger for you, we are committed to it.
I have already established the office of the Overseas Affairs and Investments to directly work under my own supervision to make sure that we enhance the ease of doing business in Lagos”, he said.
He said he is committed to the judicial and security sector reforms adding in the last sixty days, government has continued in the areas of reforms to ensure that investments are well protected and that the sanctity of law is protected in this state.
He explained that Lagos has a GDP of $91billion, which he said is greater than that of 42 countries in Africa including Kenya with a GDP of $66bn, Ghana $61.7 billion and Tanzania $58.44 billion. He puts the current GDP per capital in Lagos at $4,333.