Multi-channel retailer, FoodCo Nigeria Limited, has extended its footprints in south-west of Nigeria with the launch of its first shop in Abeokuta, the Ogun State capital.
The new store brings to 14, the total number of FoodCo brand outlets in the region. It also consolidates on the brand’s growing profile as operators of the largest supermarket chain brand in south-west Nigeria, outside Lagos.
Speaking at the launch, Ade Sun-Basorun, Chief Executive Officer, FoodCo Nigeria Limited, stated that the entry into Abeokuta was in fulfillment of the company’s commitment to make modern retail more accessible to underserved communities as well as position it as a lifestyle complements for the contemporary shopper. He said: “We are excited to announce the opening of FoodCo’s 14th brand outlet in the beautiful city of Abeokuta, the land of the famous Olumo Rock.
“The choice of Abeokuta was really easy for us given the rich history of the city as a place of gallantry, culture and great craftsmanship. The warmth and kindness we have also received during interactions with the local population make us feel welcome and we are especially humbled at the trust they have vested in us to add value to their lives by providing a top-quality retail experience that matches the needs of the increasingly cosmopolitan city.”
Ade-Basorun said: “From an industry standpoint, we are very optimistic about the opportunities in the Nigerian retail sector. Modern retail penetration in the country is currently estimated to be about 5 percent which is significantly sub-scale when you benchmark against peers in other African countries.”