General
Corner Shops Faring Better than Big Box Stores, Online Retailers—Research
By Modupe Gbadeyanka
New research has shown that corner shops in emerging markets perform better than big-box stores and online retail competitors.
It had earlier been predicted that corner shops would have supply chain issues, but they seem to have overcome these problems and are faring well.
However, corner shop owners have been advised to accelerate digital technology adoption to remain relevant and competitive to avoid being pushed out of business.
In the report released by Flourish Ventures, it was discovered that 94 per cent of the consumers surveyed plan to shop as much or more at their corner shops in the future.
The 2022 Digitizing the Corner Shop research report, published by Flourish, a global fintech investor in partnership with Bain & Company and 60 Decibels, elevates the voices of more than 800 shopkeepers and 800 of their customers in Brazil, Egypt, India, and Indonesia.
These primary research findings, along with accompanying Flourish analysis, provide shopkeepers, technology providers, and investors with fresh insights into this often overlooked $900 billion industry, with informal retailing making up 67 per cent of total retail across Kenya, Nigeria and South Africa.
“Our research proves that, even during the pandemic, predictions of the corner store’s demise may have been premature,” said Flourish Managing Partner Arjuna Costa. “But while customer sentiment across the surveyed markets is enthusiastic, continued patronage will depend on further digitization of store operations and customer responsiveness. The findings of our research can be applied to other markets in Sub-Saharan Africa, with corner shops adopting some form of a digital solution with the diffusion of mobile technologies in Africa solving many of the challenges that shop owners face, making it easier to track inventory, record sales, monitor cash flow, and supervise customers’ credit.”
During the pandemic, shopkeepers accelerated the adoption of digital technologies to address supply chain inefficiencies, low online sales and limited access to finance and other banking services.
“As the digitized corner shop ecosystem matures, early technology platforms—such as ApnaKlub in India, MaxAB in Egypt, Mercê do Bairro in Brazil, and ShopUp in Bangladesh will develop into trusted service providers,” continued Costa. “However, to serve this market, entrepreneurs must determine what immediate pain point to solve, how to monetize and when to partner versus build technology. They must create a seamless and trust-worthy onboarding process, as merchants are reluctant to invest time and money into solutions until they see the tangible value.”
By Modupe Gbadeyanka
A hotline number, 0800 123 5264, for Nigerians to report any MRS Oil Nigeria Plc filling stations selling Premium Motor Spirit (PMS), commonly known as petrol, above the approved pump price of N739 per litre, has been released by Dangote Petroleum Refinery.
The private refiner said the number was now active nationwide, enabling consumers to promptly report violations and help maintain fair pricing across over 2,000 MRS stations.
This measure follows the refinery’s recent commencement of nationwide PMS sales at N739 per litre—a strategic intervention aimed at stabilising fuel prices and easing the financial burden on Nigerians during the festive season.
“We encourage Nigerians to avoid purchasing PMS at inflated prices when locally refined fuel is available at N739 per litre.
“Report any MRS station selling above this price by calling our hotline. Together, we can ensure that the benefits of this price reduction reach every consumer,” the company stated in a statement.
The organisation stressed its mission to deliver affordable, high-quality fuel while safeguarding national economic interests, reaffirming its commitment to steady supply, backed by a guaranteed daily output of 50 million litres, and warned against attempts to create artificial scarcity or manipulate supply.
Regulatory authorities have been urged to remain vigilant and take decisive action against unpatriotic practices.
By refining locally at scale, Dangote Refinery is reducing Nigeria’s dependence on imports, conserving foreign exchange, stabilising the Naira, and strengthening energy security. This initiative represents a significant milestone in the country’s journey toward sustainable energy solutions and economic recovery.
The refinery also issued a stern warning against attempts by unscrupulous operators to create artificial scarcity in response to the price reduction, calling on government agencies to act decisively.
“Any attempt to create artificial scarcity or manipulate supply to frustrate recent price reductions is unpatriotic and unacceptable. We urge regulatory authorities to remain vigilant and take firm action against such practices, especially during this critical festive period,” the statement added.
Consumers were advised to resist purchasing fuel at inflated prices when cheaper, high-quality alternatives are readily available.
By Bon Peters
The Airport Chapter of the Association of Nigerian Licensed Customs Agents (ANLCA) at Omagwa Rivers State has praised the Customs Area Controller for Customs Area 1 Command, Comptroller Salamatu Atuluku.
At the end-of-the-year party attended by stakeholders, including the leader of the association’s chapter, Mr Charles Onyema, said the customs officer has done well in stakeholder engagement and trade facilitation.
At the event held last Friday, he said his association has been enjoying a very cordial relationship with other organisation in the ecosystem.
“You can see what is happening today, everybody is working together and our operations here are seamless,” he noted.
He stated that apart from creating a very robust business environment for his members and other stakeholders to operate, he has taken a decision to build and commission a befitting ANLCA Secretariat which would be completed soon and be commissioned by the ANLCA national president, Mr Emenike Nwokeoji.
The ANLCA chapter chief said since “Comptroller Salamatu Atuluku assumed office at Customs Area 1, Port Harcourt Command, it has been a different ball game, facilitating trade and increasing Revenue generation.”
“I remember I told her she was a mother during her maiden visit to the airport.
“You know when you have a woman in charge of an affair, food will not lack, compassion will not lack and motherly love will not lack.
“She is very wonderful in stakeholder engagement, revenue generation and trade facilitation,” Mr Onyema enthused.
Projecting into the future, Mr. Onyema said the year 2026 would be better for his members, adding that he has advised them on financial discipline which he said would help them during the trying period.
By Adedapo Adesanya
The federal government has declared Thursday, December 25, and Friday, December 26, 2025, as public holidays to mark Christmas and Boxing Day respectively.
The government also declared Thursday, January 1, 2026, for the New Year celebration.
The declaration was contained in a statement issued on Monday by the Permanent Secretary of the Ministry of Interior, Mrs Magdalene Ajani, on behalf of the Minister of Interior, Mr Olubunmi Tunji-Ojo.
According to the statement, the Minister urged Nigerians to reflect on the values of love, peace, humility and sacrifice associated with the birth of Jesus Christ.
Mr Tunji-Ojo also called on citizens, irrespective of faith or ethnicity, to use the festive season to pray for peace, improved security and national progress.
He further advised Nigerians to remain law-abiding and security-conscious during the celebrations, while wishing them a Merry Christmas and a prosperous New Year.
Business Post reports that on these public holidays – the foreign exchange market, the Nigerian Exchange (NGX), as well as the NASD Over-the-Counter (OTC) Securities Exchange will not open to trade.
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