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Woolworths plan Nigerian expansion

The joint venture partnership between one of Nigeria’s long standing conglomerates, Chellarams Plc, and Woolworths of South Africa, after a thorough assessment of the Nigerian market, has resulted in the establishment of Woolworths biggest retail outlet in Ikeja, Lagos worth over N200 million ($1,270,000 approx US).

Woolworths now plans to open another 30 stores in various parts of the country.

Woolworths Executive, John Fraser said "there is strong market in Nigeria. We are starting in Lagos with plans for rapid expansion in the country. We are excited to come to Nigeria, though there are infrastructure issues but the market is here."

Source: www.businessdayonline.com

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