Professor Ade Adefuye, Nigeria’s Ambassador to the United States, last week in Washington, disclosed that representatives from Walmart, the famous retail store and the world’s 18th largest public corporation according to the Forbes Global 2000 list, and the largest public corporation when ranked by revenue, is already making enquiries on the possibility of opening its outlet in Nigeria any moment from now.
Adefuye confirmed that representatives of the comapny visited him at the Nigerian Embassy in Washington DC as regards the plan to open the retail store in Nigeria.
“It is an indication of the growing confidence in Nigeria’s economy,” Adefuye stated, adding that he was currently engaging with the leading US store on the conditions and requirements that would have to be met to do business in Nigeria.
WalMart currently employs about 2.1million employees and the CNN ranked it as the biggest global company last year, saying that, despite the global recession, the discount retailer’s bargain prices continued to lure consumers worldwide.
The company’s plan to open stores in Nigeria is part of the strategies of its leadership team, led by its new president/chief executive officer, Mr. Michael Duke. At the company’s AGM last year, Duke was reported as saying that global markets were “becoming an even bigger and more important part of our company.”
Walmart has 8,500 stores in 15 countries, under 55 different names.