News
Pick n Pay” to exit Nigeria after selling 51% its stake
South African retail giant Pick n Pay has announced its exit from the Nigerian market after selling a 51% stake in its Nigerian operations. The decision to withdraw comes as the company reassesses its African investment strategy amid various challenges faced in Nigeria, including logistical and economic hurdles that have affected its growth and profitability in the region.
Pick n Pay initially entered the Nigerian market with high hopes, seeing it as a strategic expansion opportunity in West Africa. However, the complex business environment, coupled with supply chain constraints, inflation, and changing consumer preferences, made it difficult for the brand to establish a strong foothold.
The retailer’s departure underscores the difficulty international brands often face in Nigeria’s dynamic retail sector, where factors like infrastructure limitations and fluctuating currency values complicate operations.
Despite its challenges, Pick n Pay expressed gratitude for the partnership and customer support it received in Nigeria, with hopes that its former stake will continue to operate under new ownership, potentially with a focus better aligned to the local market demands.
In conclusion, Pick n Pay’s exit from Nigeria, marked by the sale of its 51% stake, reflects the retailer’s strategic shift to consolidate its resources and optimize profitability elsewhere, shedding light on the complexities of operating in one of Africa’s most challenging but promising markets.
The federal government reacted to claims stating that the new tax rules will be imposed on telecommunications and petroleum products for Nigerians.
The FG released a statement to explain the process and stated that there is no intention to place taxes on telecom and petroleum products and services.
“Those recommendations do not amount to government policy and are not binding on Nigeria. Decisions on tax matters are taken through established constitutional and legislative processes and are guided by national priorities and prevailing economic realities.”
Nigerian politician Peter Obi speaks on the increase in the cost of living in Nigeria and shared how more Nigerians are now hungry and the hunger crisis is increasing in the country.
He stated, “Despite three years of Tinubu’s food emergency, Nigeria’s hunger ranking index declined to among the worst nations globally.”
“Yet the outcome of this has been the opposite. Nigeria’s hunger index has worsened significantly. Nigeria’s hunger index ranking was 103rd out of 123 countries surveyed in 2022/2023, and this figure has since worsened to 115th out of 123 countries surveyed in 2025/2026.”
The U.S. government has released a warning to social media influencers who will be coming to watch the 2026 FIFA World Cup.
The government placed a rule on creating content to make money while using a tourist visa and stated that it could lead to deportation back to their country.
It can be noted that the World Cup will be hosted in the United States, Canada, and Mexico.
“People who enter the United States under a visitor program and receive income from a U.S. source would be violating the conditions of their admission status.”
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