Author: user user

Nigeria’s retail sector is entering a high-intensity phase of hyper-local competition. Following Shoprite’s strategic pivot away from traditional mall-based expansions in favour of agile, standalone

Lagos’ population is projected to rise by more than 25% to 16.2 million by 2050, intensifying the need for infrastructure investment, affordable housing and productive job creation as Nigeria’s commercial hub grapples with rapid urban growth, according to the World Bank.

The Bank, in its new report, Sub-Saharan Africa’s Urban Awakening: Catalyzing Economic Growth and Job Creation, said sub-Saharan Africa would add 748 million urban residents between 2025 and 2050, presenting an opportunity to expand economic activity and create jobs if governments adopt policies that make cities more productive.

The report projects that Lagos, which had an estimated population of 12.8 million in 2025, will remain one of the region’s most populous cities by 2050, although Angola’s capital, Luanda, is expected to overtake it.

Luanda’s population is projected to increase by 78%, from 11.4 million in 2025 to 20.3 million in 2050, making it sub-Saharan Africa’s most populous city.

Lagos’ population, meanwhile, is expected to reach 16.2 million, representing an increase of more than 25 perc over the 25-year period.

The projections underscore the scale of the planning challenge facing Lagos, where expanding population numbers will require governments to ensure that infrastructure, housing and transport systems support economic activity and improve access to employment.

The World Bank said the region’s urban transition could become a powerful driver of economic growth and job creation if governments direct investment towards locations where businesses can cluster and workers can easily reach employment opportunities.

‘Sub-Saharan Africa’s urban transition can transform the region’s jobs market,’ said Paschal Donohoe, World Bank Group managing director and chief knowledge officer.

He said the right investments and reforms in infrastructure, land, connectivity and financing could attract private capital, increase productivity and create formal jobs for millions of young Africans.

The report noted that urban households already spend considerably more per adult than equally educated rural households, reflecting stronger employment and earning opportunities in cities.

However, it warned that realising the economic benefits of urbanisation would require targeted interventions to address the different challenges facing major cities, their expanding peripheries and smaller towns.

For major cities such as Lagos, the bank recommended investing in transport, infrastructure and affordable housing to develop accessible, job-rich economic clusters. It also called for regulatory improvements that would enable businesses and workers to locate closer to economic opportunities.

On the outskirts of rapidly expanding cities, governments should establish road networks and reserve land for essential infrastructure before unplanned development becomes entrenched, the report said.

Beyond Lagos, the report projects significant population increases in other African cities, including Onitsha in Nigeria, whose population is expected to rise from 5.6 million in 2025 to 8.7 million in 2050.

Kano’s population is also projected to increase by 31 percent, although the city is expected to fall out of sub-Saharan Africa’s 15 most populous cities by 2050.

The report also identified opportunities in the region’s more than 15,000 towns, recommending that governments prioritise investment in locations with strong economic and geographic potential, particularly those along transport corridors and near other economic opportunities.

In towns with weaker economic prospects, investment in education and healthcare could help residents connect with stronger labour markets.

The World Bank further called for stronger urban governance and more reliable financing mechanisms to help cities manage expansion and attract private investment.

It recommended using low-cost technology to modernise property tax systems, improve local revenue collection and strengthen city creditworthiness. Better municipal finances could help attract private capital, including through public-private partnerships for infrastructure development.

‘Africa’s urban transformation will deliver on its promise only if cities have the institutions and resources to manage growth effectively,’ said Mark Roberts, World Bank senior urban economist and co-author of the report.

He said stronger urban governance, more predictable financing and greater accountability were essential to translating rapid urbanisation into better infrastructure, increased investment and more productive jobs.

The report stressed that decisions taken now would shape the region’s urban economies for generations, making early investment in infrastructure, effective planning and stronger institutions critical to ensuring that population growth translates into wider economic opportunities.

For Lagos, the projected increase to 16.2 million residents by 2050 reinforces the importance of aligning urban expansion with infrastructure development, business investment and job creation to sustain the city’s role as a major economic centre.

Atiku Abubakar, former Vice President, has raised concerns about President Bola Tinubu’s announced Umrah pilgrimage to Saudi Arabia, demanding daily photos and videos showing the President in Makkah.

In a statement issued on Wednesday by Phrank Shaibu, Director of Strategic Communication for the African Democratic Congress (ADC) Presidential Campaign Council, Atiku alleged that the official announcement of the pilgrimage might be a cover. He claimed that information available to him suggests France could be the President’s true destination.

According to Atiku, the President might make a brief appearance in Makkah before proceeding to France. He further questioned whether the trip was linked to President Tinubu’s health or a reported $20 billion loan request involving a French business partner, urging the Presidency to address these concerns and release the President’s full itinerary.

To ensure transparency, the former Vice President called on the Presidency to publish clear, current, and date-stamped photographs and videos each day showing Tinubu at the Kaaba participating in Umrah rites. He emphasised that Nigerians deserve verifiable proof of the President’s whereabouts and a transparent accounting of his daily engagements.

While noting that he and other citizens would join the President in praying for the nation’s peace and progress, Atiku cautioned against using religious exercises as a cover. He stressed that a spiritual journey undertaken on behalf of the nation should be treated with utmost seriousness and integrity.

Reiterating that an official trip is a matter of public interest, Atiku maintained that citizens have a right to know the President’s daily schedule and how public funds are being used. He urged the Presidency to address these questions directly and provide the transparency Nigerians deserve.

The Edo State Internal Revenue Service (EIRS) has sealed off nine companies, including Rongtai Plastic Company Limited, over alleged outstanding tax liabilities of N8.982 billion.

The affected companies are located in Utesi Community, Ikpoba-Okha Local Government Area of Edo State.

Courage Eboigbe, Head of Corporate Communications and Taxpayers Enlightenment Service of the EIRS, stated this in a statement made available to newsmen on Friday in Benin City.

Eboigbe listed the affected companies, which are predominantly owned by Chinese nationals, such as Rongtai Hardware Limited, Rongtai Energy Technology Company Limited, Rongtai Building Materials Company Limited and Rongtai Food Company Limited.

Others are Five Star Wire and Cable Company, Xin Guo Technology Nigeria Limited, Changrong Wood Nigeria Limited and Shunda Nigeria Enterprise.

He said the N8.982 billion tax liabilities arose from the companies’ failure to comply with mandatory tax obligations.

According to him, the violations include failure to register employees for Pay-As-You-Earn (PAYE) tax, failure to file annual employers’ tax returns, and failure to deduct and remit PAYE taxes.

Eboigbe said the sealing of the companies was carried out pursuant to orders of an Edo State High Court.

He explained that before the enforcement action, formal notices detailing the established tax liabilities had been individually served on the companies.

According to him, despite repeated reminders and demands for compliance, the companies failed to settle their outstanding obligations, compelling the EIRS to exercise its legal powers to seal their operational sites pursuant to valid court orders.

‘The enforcement orders will remain in effect, while the seals will only be removed upon settlement of all outstanding tax liabilities by the defaulting companies,’ he said.