Facebook has unveiled a new marketplace in Nigeria, a buying and selling point where people can search, buy and sell items in their local communities.

According to a statement released Wednesday by the social media platform, Nigeria has become the latest African nation to join the market where South Africa, Ethiopia and Kenya are already trading.

To access the platform, users can simply tap on the Marketplace icon or visit www.facebook.com/marketplace to browse and search for items, sort based on distance or category.

Head of Public Policy for Anglophone West Africa, Adaora Ikenze said the move further underscores Facebook’s commitment to boost local trading and help create local communities of buyers and sellers.

“The launch of Marketplace in Nigeria further highlights our ongoing efforts in helping to boost buying and selling in Nigeria and connecting communities.

“This comes at a crucial time as the effects of the COVID-19 pandemic continue to impact people and businesses, and with many people buying and selling on Facebook, this will provide people with a convenient destination where they can discover new products, shop for things they want or find buyers for the things they are ready to part with.”

Shedding more light on how the Facebook marketplace works, it stated that when a seller lists an item on it, they create a public listing that could be seen by anyone on the social media platform.

This includes people on Marketplace, News Feed, Facebook search, Facebook Groups or search engines.

“Sellers can simply take a photo of an item, enter a product name, description and price, confirm their location, select a category, and post,” she stated.

Providing tips for buying and selling on the platform, she explained: “Items, products or services sold on Facebook must comply with our community standards, as well as the commerce policies.

“Sellers and merchants are responsible for complying with all applicable laws and regulations. For high-value items (example: watches, luxury bags), consider requesting a certificate of authenticity or proof of purchase.

“If you’re not satisfied with an item’s condition or have doubts about its authenticity, you can decline to complete the purchase. If the seller offers to ship the item rather than exchanging it in person, keep in mind that you may not have the opportunity to verify the item before completing your purchase.

“If you are meeting, ensure this is in a public place. Don’t invite buyers or sellers into your home. Before going to the agreed location, tell a family member or a friend the exact location where you will meet, bring your cell phone, and consider asking another adult to come with you.

“If the value of the item you intend to buy or sell requires a significant amount of cash, you might consider using a person-to-person payment method.”

Facebook’s push into online market business play has been gaining ground in developing countries. With the Marketplace, the social media giant is giving people more enticement to get on board its platform, thereby expanding its ad-revenue strength.

Before now, OLX and Jiji were popularly known for this marketplace business model, where people can showcase items, sell and buy from each other. In April 2019, Jiji acquired OLX in Nigeria and other African countries to consolidate its market strength.

Facebook’s launch of Marketplace means the Nigerian space of online community retail market will once again, get competitive. But with its massive number of users, the social media giant has an edge.

On the eve of Sunday, after the details of Lionel Messi’s contract with FC Barcelona was published by Spanish news outlet El Mundo, it generated mixed reactions, with many saying that the Argentine has ruined Barcelona financially and others that he deserves what he’s got.

The contract details put Messi’s earnings from 2017 at $672 million, making him the highest paid athlete in sports history.

The financial turbulence that the Spanish club is currently going through lent credence to the uproar. COVID-19 pandemic ushered in a new era in the world of football that left every club in a briskly financial status as ticket sales is no longer part of football business. Barcelona, depleted of players, needs money to reinforce the team that has been struggling both in European and domestic competitions. The situation appears to have justified the outcry.

No other player in the world has come close to amassing such wealth in such a short period. Messi’s contract which was signed in November 2017 runs till June 30 this year, saw him earning about $167 million a season. The contract includes bonuses, media rights, a renewal fee of $139 million for accepting the contract and a $94 million loyalty bonus.

It was huge, but the question many are not asking is: does Messi deserve the pay?

Apart from his genius in the field of play that has single handedly placed Barcelona in top flight football, with crazy individual records such as 650 club goals, 260 assists in 755 matches, Messi has contributed more financially to the Catalan side than many know.

Marc Menchen, the director and creator of 2playbook and Ivan Cabeza, an economist and the founding partner of Laudem Partners, spoke to Spanish sports news outlet Marca, on the economic impact of Messi on Barcelona, and it’s revealing.

Cabeza categorized Messi’s impact on the club into three: economic, sporting and emotional, while Menchen asserted that the left-footed wonder boy made between 130 to 200 million euros for Barcelona annually before the pandemic.

“There are things that we cannot quantify exactly but that show us the importance of Messi,” Cabeza explained.

“For example, 36 percent of the trophies won by Barcelona have been won with him. Most commercial or sponsorship contracts have a clause that is determined according to this player. And on an emotional level, the Barcelona-Messi brand is known all over the world; there are tourists who come to the city to see the player, followers on social media…”

The economist believes Messi generates more money for Barcelona than he takes, and therefore deserves what he received in the leaked contract.

“Annually he must generate between 130 million [euros], minimum, and 200 million, maximum.

“Therefore, if you take the proportional part of his salary, bonuses and everything for a season, it doesn’t exceed the amount he receives,” he said.

Menchen noted that apart from the direct revenue, Messi is also generating indirect money that impacts Barcelona’s finances positively, but it is difficult to quantify.

For instance, the club will not receive the same amount if Messi plays in a friendly game or if he doesn’t travel. There is however, a penalty clause if the Argentine astro doesn’t travel for a supposed game or sponsorship events because his presence is largely what people want.

Apart from sponsored games and events, Messi generates money for Barcelona through shirt sales. An estimated eight out of nine shirts sold in the club have Messi’s name on the back, and they account for around 20 million euros yearly.

There is also revenue from ticket sales. Before the pandemic, interest in Barcelona’s match is hugely at Camp Nou. About five to 10 percent of tourists who come to Barcelona are largely interested in watching their home games, mainly because of Messi.

Menchen also pointed out his social media impact. The name “Messi” in the content guarantees maximum traffic.

“The videos of Messi celebrating a goal or anything else ensure great media visibility, whether he plays well or not. It is a difference, for example, with Real Madrid,” he said, adding that he compensated what was paid with what the club generated.

Messi’s impact on Barcelona’s sponsorship deals is also notable. His stay at Barcelona has been largely responsible for the lucrative partnerships, such as with Rakuten and Beko. Even in the face of the pandemic that has drastically plummeted many clubs sponsorship earnings, Barcelona has remained on top. Rakuten renewed for one more season although with a substantial reduction in the emoluments, and Beko is expected to do the same.

Barcelona was declared the richest club in the world, according to Deloitte’s latest Football Money League, despite the club’s revenue falling by 125 million euros to 715.1 million in the 2019-20 season, beating Spanish rivals Real Madrid, largely due to Messi’s impact.

Granted, the club has suffered financial woes, but it has been attributed to mismanagement by the board.

“The problem has been the mistakes in economic management made in recent years, the millions spent on signings and some renewals,” Victor Font, Barcelona presidential candidate said.

However, Barcelona has responded to the leak by saying it will take legal action against El Mundo, as it is against ethics to make a player’s contract public.