Retail

With the largest population in Africa and one of the continent’s fastest-growing economies, Nigeria has emerged as a prime market. According to the Central Bank of Nigeria, retail and wholesale trade totalled $45.55bn in 2012, or 17% of GDP. Retailers have found it expensive to operate locally given the need to generate power independently, which necessitates the purchase of both generators and diesel fuel. Online shopping sites offer international retailers the opportunity to outsource the challenges of operating in Nigeria to local companies while still accessing the market. As such changes take root and the middle class continues to grow, the marketplace offers significant opportunities.