₦airaland Forum

Gerrard59:
I'm genuinely curious, these people that left Port Harcourt, where did the majority flee to? Those that left Lagos, to where please?

Why are they running?

Tinubu is chasing them away.Many people can no longer afford city life in Nigeria. Some too,have gone abroad.

Gerrard59:
I'm genuinely curious, these people that left Port Harcourt, where did the majority flee to? Those that left Lagos, to where please?

Why are they running?

Left the country for the most part

You just said same thing I have been saying albeit from another perspective. The upper middle class have levels. They will rather patronize ShopRite than the smaller malls because it offers more class.
If you have been to SA like someone pointed out here, the upper middle class hardly patronize the smaller malls, they prefer the big top echelon malls. Same thing here but our situation is that most of the upper middle class have left.
Infact, before we tailored our services where I worked which I won't disclose here to target only the upper middle class that have the purchasing power but currently we have watered down things to serve even mama Ebuka that can only offer 20k. That's how bad it is.

theredaddy:
Ordinarily its convenient to think shoprite is going down becos of economic hardship/ eroded purchasin power .... Nah

The problem shoprite had is " Positioning" and "failure to evolve" what do i mean

Positioning : shoprite are only situated in highbrow areas and non residential areas But gone are those days people can over look transport cost and stress to reach shoprite to buy bread when Bokku, jendol, justrite and various mini mall are spring up all around areas/neighborhood

The question is why do i have to leave abule egba n go to ikeja mall, when justrite and jendol are nearby and its like that for almost everybody now .... bokku is even crazy obasa just dey mount everywhere

No doubts, Competition is what hit shoprite, If they were strategic they would have evolve into smaller super markets across residential areas tew.

peak milk saw it was going down dey had to evolve into cube milk like hollandia 🤣 most companies now do smaller pack of there product just to survive competitions ...

We've outgrown going to shoprite to take pictures abi folake4u 🤣

Gerrard59:
Wahala dey o.

But Nna, people are flexing on Instagram and TikTok! Parties are being held weekly. Where are they seeing this money?

P.S. Jumia should cease to exist. The model doesn't work in Nigeria.

You dey believe social media...The harsh reality is out on the streets. Everybody na millionaire for social media na.

Shoprite is still kicking good and strong nah.
If it is Ikeja City Mall,that is how it has been.
One goes,another comes.It has always been like that but they have remain strong.
Businesses in Nigeria have been shutting down for decades before my mum was born especially because of the problem of power.

Justrite, Shoprite, Bokku done chase them comot.

Jokerman:
Please who knows what's happening to ShopRite at Ikeja City Mall? Are they in debt??

That place is a shadow of itself... Could not get anything from there- was so pissed.

Please what happening to the Nigerian Buyer?? Or are they leaving Nigeria?

APC happend to them

blacksam01:
You see oyinbo..., Fear them... If they sell you something, even if it's still looking healthy, trust me there is something going down about that thing u haven't seen yet...

When the owners of shop right announce it for sale, you will wonder what is wrong with them... Because as at then, it's malls were all very busy and bubbling with large crowd... But economics from their stables have advice them to sell off... They were told from them on, it will be decline... As good as they were, they followed advice and sold off...

The Nigerian man thought he knew more than ppl who established, manages and saw its peak are seeing... He gave them billions and changed ownership...

Since then, steadily there was gradual decline... and now very visible ones...


Next is DStv which has been sold off... Sensing fast decline spending for leisure as poverty grips Nigeria, again with the growing popularity of internet channels subscriptions t. V ...

Let's watch as canal + is not a walk over also

A good business has foresight... it's not only oyibos. A good business man is planning 10 years,20 years ahead. If he foresees that business will stop doing well in the next 10 years,he will sell of now.

Difrent:
That's why one of the best business to do today is logistics
Many businesses need delivery.

Saw a video where a lady was advising Lekki ladies to stop renting shops for millions cos most businesses have moved online, rent a shop if it's absolutely necessary For your business.

I tell you..

You don’t really need shops for many business today. People now use their bedroom, living room, compound for business..

All you need is a phone and that ring light or Wetin dem dey call ham..

Jokerman:
Please what happening to the Nigerian Buyer??

The Nigerian buyer has been impoverished by Corrupt Nigerian politicians and seeing that ShopRite represents a luxury they can no longer afford, the little money they manage to eke together after Tinubu's multiple taxation is used for their one time feeding per day and Shoprite luxury is no longer in the equation for MOST straightforward and honest Nigerians.

Globad:
So, why are other supermarkets opening up and spreading fast in the same country?

Grand Square, Addide, Bokku, Jendol, Just rite, etc

Why are open markets not shutting down?

Many Nigerians don't want to reason like this so I stopped trying to make them reason this way.
The fact is as some are leaving many others are moving in. Multinational companies due to market dynamics are prone to changes like this In some markets they are not doing well so that it won't drag the whole group down... which was what ShopRite did by shutting down in many countries to concentrate on SA fully.

Besides , as western Companies are moving out (they've eaten enough now) Oriental and far eastern companies are moving in for the kill, they see the potential that most Nigerians are not seeing

All the government needs do is provide safety nets for the poor..... Even at the risk of the thieves in government stealing lots of it.... Then it can sit back and watch it's reforms kick in and kickstart real economic growth,unlike the cosmetics and voodoo economies we've had In the past

PulaPower:
I tell you..

You don’t really need shops for many business. People now use their bedroom, living room, compound for business..

All you need is a phone and that ring light or Wetin dem dey call ham..

Ring light and a video editing app like inshot and you're in business.

E Commerce happened to malls all over the world.. Malls are getting empty and scanty globally

PulaPower:
The Era of shop rite don pass..

Nah Era of Online vendors dey reign like this..

People buy almost everything online..

dey play if u want to buy soft drink u order it online also right, or u want to buy biscuits u also order it online right, infact u think sey na everyone even trust online buying, d issue is nothing short Dan harsh economic and bad government policies

LagosOrigin:
Nigerian government bad policies happened to shoprite

.

That's a lie, Shoprite problem as nothing to do with the government. Other supermarkets are doing well. If one student fail in class and others are passing, it as nothing to do with the teacher or the school. People should learn to take responsibility for their failure and stop blaming the government.

Seun and your fellow moderator can remove my comment as usual. I no send Una.

okeke6969:
Votron, defender of the universe.

i wonder what in the universe this means though.

The hand writing on the wall is crystal clear

Jokerman:
Please who knows what's happening to ShopRite at Ikeja City Mall? Are they in debt??

That place is a shadow of itself... Could not get anything from there- was so pissed.

Please what happening to the Nigerian Buyer?? Or are they leaving Nigeria?

Ask what happened to Tiger Foods that bought Dangote Flour and ended up selling it back for N1 to Dangote before Dangote resold same company to Olam Foods for over N100 billion!

Business strategies gone wrong. It almost killed MTN too before they brought on Karl Toriola who saved MTN

Olat4421:
dey play if u want to buy soft drink u order it online also right, or u want to buy biscuits u also order it online right, infact u think sey na everyone even trust online buying, d issue is nothing short Dan harsh economic and bad government policies

Soft drinks
Biscuits
Bread
Akara
Moi-moi
Fish
Suya
Indomie
Anything you can imagine dey..

Go to TikTok, search any *item* vendors and see things yourself. You fit add your location join so you go fit see people near you..

People dey even buy cooked Indomie online..

Difrent:
Ring light and a video editing app like inshot and you're in business.

Sharp bro!

You’re in the game!

Jokerman:
Please who knows what's happening to ShopRite at Ikeja City Mall? Are they in debt??

That place is a shadow of itself... Could not get anything from there- was so pissed.

Please what happening to the Nigerian Buyer?? Or are they leaving Nigeria?

What's this? They have left Nigeria long ago or are you not aware? It's been controlled by a Nigerian organisation since 2021 na

PulaPower:
Soft drinks
Biscuits
Bread
Akara
Moi-moi
Fish
Suya
Indomie
Anything you can imagine dey..

Go to TikTok, search any *item* vendors and see things yourself. You fit add your location join so you go fit see people near you..

People dey even buy cooked Indomie online..

no be everybody get time for dat one it is harsh economy it is as simple as dat

Osebanjo:
i wonder what in the universe this means though.

Lol it only means you didn't grow up in the 80s else you should know

Well same as Umuahia........

franchasofficia:
it's all about politics.


Nigerian people's purchasing power is dying everyday. Nigerians now buy mostly what they need to survive like basic food, etc, and those that use to patronize ShopRite and other big shopping malls now go back to traditional markets due to harsh economy.


Nigeria's Middleclass population that made ShopRite and other big shopping malls and outlets to boom are almost gone; most lost their jobs, relocated to remote areas, some migrated abroad, many got kidnapped, so Nigeria currently have very insignificant Middleclass population all thanks to Bola Tinubu's thoughtless and insensitive economic policies that created more poor people than rich people in Nigeria.


So tell me how is not politics?

What thoughtless and insensitive policies of Tinubu are you complaining about?

When Buhari was destroying the economy from June 2015 was when you should have been screaming. Soludo, Lamido Sanusi and other economists had already seen the handwriting on the wall.

OBJ pleaded with Buhari not to seek re-election.in order to prevent where we are today.

When Buhari took office, 26% of government revenue was spent on debt servicing. By the time he left office, it was 97%. Imagine your salary is 100k, and you're left with 3k after servicing debt. Bubari had gone on an unsustainable borrowing spree in order to remain popular and because he was an stonewalled economicilliterate.

The net foreign reserves had only $4bn when Tinubu took office and the CBN was owing purchasers of forex $7bn. The net foreign reserves reserves refers to thecactual fx in the foreign reserves the central bank actually has access to and not the gross figure.

For context, $4bn isn't enough to cover 1 month worth of imports. A country is to have at least 4 months worth of imports cover. That's how bad it was, and to make it even worse, it was owing buyers $7bn. The severe fx scarcity led to the exit of Shoprite, GSK and other foreign companies out of Nigeria.

Soludo and Okonjo-Iweala have praised the reforms. Cardoso won the central bank award for Africa.

The net foreign reserves have grown $4bn to $40bn today, able to cover 8 months of imports.

Debt servicing now consumes less than 50% of government revenue and the sum keeps reducing. The economy is finally on the road to recovery after 8 disastrous years under Buhari.

It will take time to trickle down. It took Thailand 5 years to recover from the 1997 financial crisis. It took 6 Indonesia 6 years. The more debilitating an illness, the longer the recovery.

Globad:
So, why are other supermarkets opening up and spreading fast in the same country?

Grand Square, Addide, Bokku, Jendol, Just rite, etc

Why are open markets not shutting down?

Exactly what I wanted to say. All the Jendol and Bokku in my area in lagos are always packed to the max.

Duplex90:
if someone like me with over 500k shopping in 2018-20 is no more buying on jumia then yes they will be lol. At some point jumia gave ma loan of 100k via quickcheck and airtime of over 5k. When the country was actually doing great. Everything i used was jumia from washing machine to even a hard disk.

You dey mind am 🤣

esnbrutality:
This was Lagos in 1999 before TINUBU transformed it

This was the LIE fed to people and they believed. Anyway, in the SE they have mega supermarket chains still operating.

They are not shutting down "LIKE IN" the Last Vegas called Lagos, that TINUBU built.

Again..Lagos in 1999..before TINUBU
transformed it.
Jokers.

Oga, dey lie small small now. Which SE are you referring to. I hope that part is in Nigeria.

Gerrard59:
Wahala dey o.

But Nna, people are flexing on Instagram and TikTok! Parties are being held weekly. Where are they seeing this money?

P.S. Jumia should cease to exist. The model doesn't work in Nigeria.

Nigeria is big and populous.
There'll always be people "flexing".
In addition, the administration is favoring quite a number of people and their families.
If you're part of the political and civil service class, you're eating good this period.
Doubly so since the fx rate stabilized.

Most folks a few bodies separated from these evergreen sectors are in trouble.
This has had a noticeable effect on the structure of the economy.
Shoprite and co are department stores/super markets.
Large retail spaces that now require significant transportation outlay to visit for the vast majority of shoppers.

Folks still shop. Just not at department stores anymore.
They shop at glorified bodegas. The likes of Bokku in Lagos are booming and will continue to.
Outlets are small. Finely dispersed. Close to shoppers. Fairly priced.
For anything else you need, you go to a specialty store or open-air markets, as is tradition.

APC has been good at increasing revenue, but atrocious at putting that revenue to good use.
Give Obasanjo or GEJ this economy and they'll cook.
Two years on and two years from a re-election and there's no grand economic plan.
Just hike taxes, share money through contracts, and inshallah.
Our base economic growth rate after the removal of subsidies and with high inflation should be at least 2.5x what it is now.

-Lord

kiddaz:
Lol it only means you didn't grow up in the 80s else you should know

Ok