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Thursday, June 30, 2011

WalMart to Open in Nigeria

Walmart, America's foremost low-price merchandise retail store, is planning to open two stores in Nigeria soon. Nigeria's Ambassador to the United States, Prof. Ade Adefuye, told the Empowered Newswire on Wednesday that representatives from the famous retail store had visited him at the Nigerian Embassy in Washington DC as regards the plan to open the retail store in Nigeria.

"It is an indication of the growing confidence in Nigeria's economy," Adefuye stated, adding that he was currently engaging with the leading US store on the conditions and requirements that would have to be met to do business in Nigeria.

WalMart currently employs about 2.1million employees and the CNN ranked it as the biggest global company last year, saying that, despite the global recession, the discount retailer's bargain prices continued to lure consumers worldwide.

The company's plan to open stores in Nigeria is part of the strategy of its leadership team, led by its new President/Chief Executive Officer, Mr. Michael Duke.

At the company's AGM last year, Duke was reported as saying that global markets were "becoming an even bigger and more important part of our company." - Punch