Wednesday, 11 December 2019

Ikota Shopping Complex turns over N5.5 billion every month, flags off trade fair

Success Damian:


Latest revelation has indicated that Ikota Shopping Complex in Victoria Garden City (VGC), Lagos being the biggest shopping complex within Lekki/Ajah and Victoria Island axis turns around about N5.5 billion every month.

The complex has also kicked off her 2019 End of Year Trade Fair in grand style with a promise of huge discounts.

These revelations were made by the Public Relations Officer (PRO), Ikota Shopping Complex Owners and Operators Association (ISCOOA), Umezurike Austin Umezurike, while addressing a world press conference to mark the commencement of the ISCOOA 2019 End of the Year Trade Fair on Monday.

Speaking on the uniqueness of the Ikota Shopping Complex Umezurike said “In this place we have all kinds of businesses; all the banks and financial institutions are in this complex. We are guided by Standard Operation Procedure (SOP), there are thing you cannot do here, you don’t display your market outside; it will interest you to know that Ikota turns around about N5.5 billion every month. People park their cars and go into the shops to do their business. Everybody can buy here, just as I said every budget works here.”

Umezurike who spoke in company of the Treasurer of the association, Mrs. Paulette Iyorah, disclosed that ISCOOA 2019 Trade Fair is made popular with the slogan ‘Ikota Must Flourish.’
On discount rate giving to customers during the fair he said “Of course there is a price slash, some people give 30%, some 50%, some others give as high as 70% depending on the owner; we don’t compel anybody here. All the traders understand what to do. You see, when you do business from January to December you would like to sell off old stock so that new ones can be brought in.”

He said the trade fair is expected to run for 14 days starting from Monday, December 9, 2019.

While stating that the trade fair would bring about high volume of sales for the traders, Umezurike said ISCOOA is expecting a minimum of 1million customers within the 14 days duration of the trade fair. 

Umezurike said the trade fair is being organised by Ikota Shopping Complex Owners and Operators Association (ISCOOA), adding that this year’s trade fair is unique and unparalleled in many ways. “There is a new administration in place that signals and symbolises a complete and total new dawn, with the mantra: Ikota Must Flourish.”

Umezuruike maintained that the mantra of Ikota Must Flourish is a renaissance that is new ideological revolution which is a representation of a paradigm shift from the old order, “with new, effective security system, rehabilitation of otherwise dry bones, upgrading electricity and its tenets of operation, transformation of Ikota to an international market that it has always been, putting orderliness in place, and above all, ensuring that our operators /owners achieve their prime objective of business flourish. I will be compiling a compendium to outline our forthcoming active visions in their total perspectives.”

He went further to state “We have business/purchases available for all types of budgets. So I call on our esteemed customers to shop, shop and shop, for that is the spirit of Yuletide. I equally thank these esteemed customers and new ones for their massive patronage without which we will be out business.

“I wish to crave the indulgence of corporate Nigeria, business community, captains of industries, investors, to feel free to partner or form synergies with us to leverage their brands, corporate social responsibility (CSR) and greater return on Investment,” Umezurike stated.

Umezurike also used the opportunity of the press conference to wish stakeholders a merry Yuletide “On behalf of ISCOOA Exco, I wish all of us a healthier, bigger, merrier, and better season so that ISCOOA must flourish eternally.”

On the readiness of the complex to service the free trade zone and the emerging businesses around the Lekki Epe axis, Umezurike said “It may interest you to know that we have done that already because Ikota is servicing the zone. Let me tell you something, we have all the banks, and if you move from here to free trade zone you won’t find more than seven banks so what are you talking about. We are positioned already but that does not mean there is no room for improvement.”

Umezurike also stated some of the challenges being faced by the members of the Shopping Complex and appealed to relevant agencies to come to their assistance “Our Challenge here is the natural Nigerian Challenge. But there is one that is disturbing us so much outside the traffic problem within the Lekki/Ajah axis; we have a very serious issue and we have been trying to engage government to see how we can address it; we needed direct access to the complex. If you are coming from Lekki you have to go to Ajah to turn, I know how difficult it is, so we wanted a place to turn into VGC and see how we can negotiate it to the complex. He said he wanted the government to come and see what they can do to solve the problem.

The PRO used the opportunity to appeal to the Lagos State governor to assist the complex in repairing the pedestrian bridge in front of the complex to ameliorate sufferings of members of the community and customers who in an attempt to cross the road, most time, are knocked down by fast moving vehicles. He also said the abandoned pedestrian bridge has constituted a security threat to people of the shopping complex as hoodlums use it as their abode.
He also appealed for the construction of good drainage system within the area.

Umezurike also called on the Power authorities to provide the plaza with regular electricity supply as the complex is spending heavily on power, “You can see a couple of generators everywhere, we have requested for prepaid meter but they are not responding, so we are making special arrangement from approved vendor to get the meters.” 

When informed that there is advertisement for availability of prepaid meter in Nigeria, he said that advertisement is not working for the complex and challenged the power authorities that they should immediately supply the complex with 700 to 800 3-face and single-face of 1400 meters, making 2200 meters if they are serious.

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