Nigeria Attracting Significant Foreign Investment

The Nigerian food and drink industry has managed to attract significant foreign investment this quarter, as discussed in BMI's recently published Nigeria Food & Drink Report for Q308. In March 2008 South African retailer Shoprite announced that it has secured the land for its second supermarket in Lagos, Nigeria, as well as two sites for development in the Democratic Republic of Congo (DRC). Shoprite has been present in the Nigerian MGR market for a number of years, and has helped give retail sales a significant boost. BMI is forecasting an impressive growth rate of 47.3% for Nigeria's grocery retail industry

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