Xenophobia: Police Arrest Alleged Shoprite Looters In Lagos

 

Police authorities in Lagos have paraded suspected looters of Shoprite in the Lekki area of the State.

The police area commander of Shangotedo, Mr Gbolahan Olugbemi says between September the 3rd and 4th, a total of 125 suspects have been arrested in connection with the attack on Shoprite with 90% of the stolen goods recovered.

READ ALSO: Police Arrest 87 Suspects For Looting Outlets In Shoprite

According to the police, 112 of those arrested were found in possession of stolen items and have been charged to court.

Meanwhile, the Lagos state Governor, Mr Babajide Sanwo-Olu has also visited the looted shopping malls.

Police Arrest 87 Suspects For Looting Outlets In Shoprite

 

 The commander of the Police Rapid Response squad in Lagos has said that about 87 suspects have been arrested for looting various outlets of shoprite in the Lagos metropolis.

Mr Tunji Disu said 75 of the suspects are male while the remaining 12 are female.

He said they are currently being detained at the Lagos state taskforce office and will be transferred to the state criminal investigations department later on Wednesday.

According to him, the security situation in the affected areas are under control while officers from the Lagos state taskforce.

“The Rapid Response Squad, Anti Riot Mobile Police Unit, men drafted from operations department, the area command and all divisions around the area are working to ensure safety of lives and property in the area”.

Shoprite Showcases Made In Nigeria Goods

In line with the Federal Government’s push to buy, patronise and invest in locally made goods, Shoprite stores has opened an exhibition to showcase its goods which are now 80 per cent made in Nigeria.

Several entrepreneurs from across the country attended the exhibition which took place at the Ikeja City Mall.

Meanwhile, the management of Shoprite stated that they are committed to encouraging more production and patronage of indigenous products and booting SMSE’s in Nigeria.

Obiano Commissions Onitsha Shopping Mall In Anambra

Obiano Commissions Onitsha Shopping Mall In AnambraGovernor Willie Obiano, on Wednesday commissioned the Onitsha Shopping Mall in Anambra State, southeast Nigeria.

Commissioning the project amidst fanfare and celebration, Governor Obiano restated the major blueprint of his administration which includes trade and commerce.

He noted that his target was for the people of the state to begin to enjoy shopping activities in the best environment with quality and standard being the hallmark.

The Governor added that the mall, which already has heavy security presence, would have two additional Police patrol cars while the Ministry of Works would commence the construction of an exit route at the back of the mall for easy accessibility in and out.

Commissioning Shoprite Mall which is an anchor tenant, the Governor expressed hope that among other things, the mall would decongest the open market, break shopping traffic from Anambra to other states and attract more investors for increased revenue generation.

In his statement, the Development Manager of Capital Alliance, Osita Okonkwo, said that the project was a shining example of what could be achieved when a proper synergy exists between government and private investment partners.

Onitsha Mall is the largest retail shopping center in Onitsha and one of the most iconic malls in Anambra State and it was initiated by the immediate past administration.

Four Dead, 14 Injured As Tension Rises In Kano

JTF Raid kanoTwo explosions caused by two suicide bombers occurred in Kano on Monday.

The first attacker walked into a filling station in Hotoro, where people, most of whom were women cued for kerosene.

The Police Commissioner, Aderenle Shinaba, said that the bomber and two others died while eight sustained various degrees of injuries.

Shortly after, another female suicide bomber attempted to pass security check at Shoprite on Zoo road, killing herself and injuring six others including two policemen.

Kano State in recent days has been under tension after the discovery of explosives at Eid ground but the Police say it is still under high alert as few arrests have been made since recent attacks.

No group has claimed responsibility for the attacks.

However, the deputy governor of the state, Abdullahi Umar, who visited the scene of the blast, said the government was conscious and fully aware of the new techniques now used by the terrorists to attack innocent people.

Following the attacks, Sallah celebrations in Kano have suffered a setback as people are being cautious. Also, most recreational parks appeared empty as check-points have been set up within the metropolis.

 

MINT Countries: Nigerian Government Must Build Human Capacity – Economist

Financial Analyst, Pascal Odigbo, has called on the Nigerian Government to build its internal capacity in order to achieve its potential as one of the World’s emerging economies, tagged the ‘MINT’ countries.

The MINT countries, made up of Mexico, Indonesia, Nigeria and Turkey have been categorized as emerging economies that would become super powers by the year 2050.

Odigbo said that the World is always looking for the next big thing and the rationale for such projection was for investors to take position as the evaluation is based on the demographics in those countries.

He noted that this is a major pointer to the fact that other nations are showing attention to Nigeria. He said, “If you don’t have a I won’t call you.

“I think very strongly that there is absolute need for politicians to understand that this is not about personal gains but about our nation and our destiny” as this kind of declaration brings focus on what the country is doing and the world is watching.

He laid emphasis on ‘Potential’ using an analogy from the principles of Kinetic Energy in Physics. He explained that with the availability of power, one still needs to press a switch to light a bulb.

Therefore, with the world putting so much attention on Nigeria, “you need to know that you are doing something right, but now we need to be able to dimension it rightly.”

In analysing Nigeria’s potentials, he said that the strength of Nigeria is in its population, and this makes it a major ground for retail business, citing the successes of the many shopping malls that have sprung up in recent times in the country.

The ‘Sunrise Daily’ crew drew his attention to the dangers this may pose to the service and manufacturing sectors, and he agreed that things were wrong in those sectors but commended the Federal Government for its Automotive Policy which he sees as a step in the right direction towards improving the country’s manufacturing industry.

He however noted that the most important area was human development. He said, “We need to develop the people, we are putting so much into the assets rather than the people.”

He admitted that nothing was wrong with infrastructural development but it is counterproductive to build roads and other infrastructure without building the internal capacity of the people to work with these structures.

He pointed out that over a million students sit for the Joint Admission Matriculation Board (JAMB) examinations every year, but admission into the universities are available to about 500,000 people. He warned that Nigeria’s lack of human capacity would force foreign builders to bring their own people to man the country’s infrastructure, consequently leading to second slavery.

He added, “Most of the people in leadership, whether at state or local government level do not have a clue as to why they are there.”

“Government must begin to see this as a mission, developing a country is not in the mantra but in the things that you do. ”

Nigeria’s Economy Is A Reverse Of What Is Obtainable Globally- Economist

A lecturer from the Pan Atlantic University, Dr Austin Nweze today (Thursday) described Nigeria’s economy as the “reverse” of what is obtainable in other parts of the world.

Commenting on the increase of price on products and services during the Christmas period, Dr Nweze recounted his time as a student in Canada where “Christmas time is the best time to get things cheap; really really cheap”.

He said that there were usually so many discount, as “so many items are discounted just for the period” insisting that the end of the year should be “the best time to shop”.

He noted that in such climes, the Christmas period is regarded as “spending time” after saving from January to November period, which is regarded as “saving time”. He added that “even the stock exchanges feel the impact of the expenditures that go on during Christmas”.

He went on berating the discount tactic employed by retail and wholesale marketers in Nigeria.

“They will pretend to give discounts, but what they usually do is to increase the price first of all, and then (maybe) return it to a normal level or higher than the normal” maintaining that ‘’it is not supposed to be”.

Noting that a service economy is imperative, he berated the low impact manufacturing has made to the Nigerian economy which he pegged at 2.4 to 3 per cent compared to the United States of America’s 80 per cent.

Dr Nweze, quoting statistics from the International Trade Centre, said that by 2050, 80 per cent of the minimum global work force would be in services, which means “that you have to move from production to service” adding that “even when you are producing, you are also providing service; they work hand in hand”.

He further noted that Nigerians do not produce, he said “we consume too much” because “nobody is thinking of producing anything here,” a situation which he said also “extends to policy making”.

He advised policy makers to stop indulging in the habit of making policies that would not benefit the people because of the mode of operation used in implementing the policy. He said: “they make policies to encourage businesses, but they use the other hand to collect it back through interest rates”.

He said that if given the opportunity to run the economy, he would not “worry about inflation” but he would “make sure that the productive capacity of the nation; businesses are producing at the optimal level”.

He further said that he would look at other areas in the country and put in place a “factor-endowed based development strategy” to see what could be done to encourage production and manufacturing.

Shoprite Ramps Up Africa Expansion As Home Market Slows

Shoprite (SHPJ.J), Africa’s biggest grocer, is ramping up its expansion across the continent with 47 new supermarkets as its core South African consumer base grapples with high personal debt levels and growing fuel and transport costs.

Nearly half of South Africans failed to pay back their debts for three straight months this year, prompting banks to tighten their lending criteria, while a weaker rand currency fuelled inflation and higher petrol prices.

“It’s tough out there,” Shoprite deputy managing director Carel Goosen said at the presentation of the company’s full-year results.

Cape Town-based Shoprite, which reported an 11 percent rise in full-year profit that fell slightly short of market expectations, said it could double its stores outside of South Africa in the next four years.

Shoprite has 153 supermarkets in 16 countries outside South Africa. Those foreign outlets registered a 28 percent jump in sales in the 12 months to the end of June, nearly three times the rate of growth in its home market during the same period.

The bulk of the new stores would be in oil-rich Nigeria and Angola. The company sees scope for 44 new outlets in Nigeria and 21 in Angola in the next three to four years, Chief Executive Whitey Basson said.

After more than two years as an investor favorite, South African retailers are fast falling out favor due to concern that high personal debt levels and reluctance among banks to lend more will squeeze spending in Africa’s biggest economy.

South African retail sales grew by a smaller-than-expected 1.9 percent in June, data from the government statistics office showed last week. ZARET=ECI

Shares in Shoprite, which are down about 20 percent this year, gained 3.3 percent to 166.73 rand in what analysts said was a recovery from oversold levels and optimism that its Africa focus would help it ride a slowdown in consumer spending.

“In Shoprite, you have a company that’s still growing profits and paying dividends even in a tough environment and the results were not that far away from the consensus,” said Reuben Bleeders, an analyst at Cape Town-based Gryphon Asset Management.

The stock is trading close to its intrinsic value, according to Thomson Reuters StarMine valuation model, which takes into account the company’s most likely earnings trajectory over the next five years.

Shoprite posted an 11 percent rise in headline earnings per share to 675.4 cents in the year to the end of June, a touch below the 681 cents forecast in a Reuters poll of 11 analysts.

Headline EPS, South Africa’s primary profit gauge, excludes certain one-time items.

Sales rose 12 percent to 92.7 billion rand ($9.11 billion) and the company lifted its annual dividend by the same amount to 338 cents per share.

Police beefs up security in Lagos over bomb scare

Following a bomb scare on Tuesday night at the arrival wing of the Murtala Muhammed Airport, the police in Lagos have beefed up security in strategic locations in the metropolis.

A bag left unclaimed at the airport had raised suspision among travellers and airport staff that it contained explosives.

Eyewitnesses at the airport said that the suspision caused panic in the airport as people were seen rushing out of the building while others where seen making telephone calls to their friends and relative to ascertain their location.

The airport authority had then invited operatives from the police anti-bomb unit who later evacuated passengers and airport staff from where the unclaimed luggage was placed.

According to Premium Times,the operatives then began to use sophisticated bomb detectors on the bag.

Not convinced that the bag was harmless, the detectives brought out more equipment and tried to defuse the “bomb”, eliciting a loud bang which further sent passengers scampering for safety.

Akin Olukunle, head public affairs, Federal Airport Authority who confirmed the incident to Premium Times, said the airport security had to alert the bomb experts because they had instruction to be proactive by promptly reporting suspicious packages and luggages to relevant authorities.

“There is no cause for alarm,” Mr. Olukunle said. “We simply took precautions, and it turned out the bag was harmless.”

Rumours of impending attacks

Over the Weekend, there has been various rumors of impending bombings in Lagos by the dreaded Islamic sect, Boko Haram.

A message purportedly sent out by the Lagos State government had highligted plans  by the Boko Haram sect to attack some public places in Lagos.

In the message, the group had said that “the attacks can only be prevented if the presidency agrees to their terms by Monday the 7th of May.”

Some of the places listed as point of attack include the Murtala Mohammed Airport, fun spots- Silverbird Cinemas and some relaxation centers.

The message which went varil over the weekend via some social media platforms, like blackberry messenger, Facebook and Twitter has made Lagosians to be security conscious and report any suspicious movement to the nearest police station.

Lagos Economy on Upward Swing as Ikeja City Mall Opens

Yet another major shopping mall was added to landscape of Nigeria’s commercial hub. Governor Babatunde Fashola of Lagos State, yesterday, commissioned the N16 billion Ikeja City Mall located at Alausa, Ikeja.

Shoprite

Addressing a gathering of selected guests, investors, bankers and notables at the new 27,000 square meter shopping mall, Fashola said the new mall, which is stocked with 75percent locally sourced materials, represents an empowering of small businesses through a retail revolution.

According to the Vanguard, the mall has already recruited over 300 employees on its first day of operation.

Governor Fashola stressed that the Ikeja mall which represents a total investment of $97Million exposes the fallacy in the argument that the Lagos economy is losing business.

“The investment shows the inability of critics to critically analyse the increasing diversification of Lagos economy,” Fashola said

Lagos Economy on Upward Swing as Ikeja City Mall Opens December 15, 201182

Yet another major shopping mall was added to landscape of Nigeria’s commercial hub. Governor Babatunde Fashola of Lagos State, yesterday, commissioned the N16 billion Ikeja City Mall located at Alausa, Ikeja.

Addressing a gathering of selected guests, investors, bankers and notables at the new 27,000 square meter shopping mall, Fashola said the new mall, which is stocked with 75percent locally sourced materials, represents an empowering of small businesses through a retail revolution.

According to the Vanguard, the mall has already recruited over 300 employees on its first day of operation.

Governor Fashola stressed that the Ikeja mall which represents a total investment of $97Million exposes the fallacy in the argument that the Lagos economy is losing business.

“The investment shows the inability of critics to critically analyse the increasing diversification of Lagos economy,” Fashola said.

Shoprite Ikeja

“It speaks of an increasing demand for outlet spaces for small businesses like eateries, salons, grocery shops, cell phone and IT outlet stores, jewellers, ice cream, popcorn and entertainment outlets like cinemas which are the things we will see in this mall of 94 outlets”.

“The possibilities are seemingly endless. Investment and opportunities have converged; prosperity is imminent and a brighter and rewarding future is assured”, the Governor stated

He explained that as a Government, the commitment of the administration and support for the mall was informed by business and other life style considerations, stressing that: “First, it was our desire to use it to redistribute traffic away from the Lekki Mall and in that way re-energise the Ikeja Central Business District and its environs as a stand-alone and self- sufficient business districts for almost four million residents, that will ultimately reduce the uni-directional traffic we see on a daily basis between the Mainland and the Island”.

On choice of Alausa as its location, Fashola said it was to re-distribute traffic away from the Lekki Mall and re-energise the Ikeja Central Business District, CBD and its environs.

The governor added that “it will reduce unidirectional traffic flow Lagosians experience on daily basis.

He expressed delight with the investment, saying “during the construction of this mall, over 1000 people were employed directly. And very soon, new set of employees will also be absorbed in the mall as it commences its operation today.”

Speaking earlier, the Director Real Estate Actis, Michael Chu’di Ejekam, said the company decided to locate the mall in Ikeja because it was demographically and strategically good for the mall.

He added that the mall had 94 retail outlets and a parking lot that that could accommodate about 250 cars