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Nigeria, 4th goods purchasing economy — Obayuwana

Nigeria has been ranked as the 4th world leading purchasing luxury goods economies, Executive Director, Polo Limited, Ms Jennifer Obayuwana, has disclosed.

She stated this while discussing the growing trend of luxury goods in Africa’s retail market at the 2014 Women Inspiration and Enterprise, WIE held in Lagos.

According to her, the recent report (2013) from the Global Tax Company has positioned Nigeria as the 4th leading purchasing economy of luxury goods in the world, a position higher than that of 2012.

Obayuwana stressed that the spotlight which is now on Nigeria’s retail industry, presents a viable opportunity to rebrand the industry into the biggest business economy of fashion in Africa.

She explained that although there are crippling circumstances which hinder swift growth within the industry such as the high cost of retail infrastructure within the Nigerian environment, nonetheless, she stated that, Nigeria has a good story to tell about fashion.

Speaking alongside female technocrats which included Founder WIE Network Dee Poku, Philanthropist Folorunsho Alakija, renowned designer Folake Folarin Coker, Media personality Julie Gichuru, and talk show host/CEO Ebony life Mo Abudu, Lola Ogunaike, Remi Folawiyo, Omoyemi Akerele, Mako Osakwe amongst other distinguished women, Obayuwana concluded.

her discussion by admonishing young women to pursue their goals and imbibe the good practice of spending quality time in learning from achieving and accomplished women in our society.

Meanwhile, the 2014 WIE symposium has been a platform for women industry leaders and influencers to come together and inspire and empower the next generation of women.

Since its inauguration in 2010, the symposium has attracted the likes of Nancy Pelosi, Melinda Gates, Lauren Bush just to name a few.



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