Nigeria is presently experiencing consumer revolution with large shopping malls opening up in various parts of the country with positive implications on job creations and taxes, especially in Lagos where the state government emphasises tax payment.
In Lagos alone, there are several shopping malls located in strategic corners with more expected. Analysts say some of the factors driving opening of shopping centres include one-stop shop experience, shopping convenience, Nigerian consumers are becoming brand conscious and the need for ever busy Nigerians who want to shop after close of work.
On the increase in the number of shopping malls in the country in recent times, Manager of the Lagos City Mall, Ibukun Efuntayo & Co has said the increase was good for the Nigerian economy.
He said more than five upscale shopping malls have opened shops in the country while some existing ones are expanding their outlets across the length and breadth of the country.
For instance, Shoprite, a leading South Africa mass retail supermarket, has been opening more outlets in the country, following its successful debut in Lekki, Lagos in 2005 while Spar, another hypermarket, which also begun operations in the country in the 2000s has expanded to enhance shopping experience of Nigerians among others.
Mr. Emmanuel Efuntayo, Chief Executive Officer, Ibukun Efuntayo & Co said the coming of the new malls signposts positive investor confidence in Nigeria’s economy. He stated that as much as the malls provided convenient shopping experience to shoppers, it will also provide job opportunities for Nigerians and boost government tax revenues.
He attributed the rise in number of shopping malls in the country to changing lifestyle as more people find it more convenient to purchase all their needs in one shop than go from shop to shop.
“The coming of these malls is good for our economy. It goes on to show that our economy is developing and that we have the population that can support these malls. Shopping malls provide that convenience where shoppers can buy all that they want under the same roof while being entertained at the same time, so it’s good especially for those upwardly mobile people.
Beside all these benefits, the malls provide direct employment to thousands of Nigerians and that is a good development,” Mr. Efuntayo said.