Shoprite Reassures Nigerians: We’re Staying, Not Shutting Down

Retail Supermarkets Nigeria Limited (RSNL), the operator of the Shoprite franchise in Nigeria, has assured Nigerians that it is not shutting down and remains committed to continuing operations in the country.

Recent reports suggested that some Shoprite outlets were becoming nearly empty, raising concerns about a possible exit from the Nigerian market. However, the company clarified that it is currently undergoing a comprehensive business model reset to align with the country’s economic realities.

In a statement, RSNL explained that the previous business model, inherited after the company’s acquisition, relied heavily on large store formats, imports, and high overhead costs. The firm noted that this approach is no longer sustainable amid exchange rate volatility, rising inflation, and constrained liquidity.

The new model focuses on strengthening local supply chains, with over 80 percent of products now sourced within Nigeria. According to the company, this shift is designed to stabilize operations and position Shoprite for long-term growth.

Chief Strategy Officer Bunmi Adeleye described the current phase as a period of rebuilding. She emphasized that the company is not collapsing but resetting its strategy to become more local, culturally relevant, affordable, and resilient. “With new investors behind us, we are rebuilding Shoprite to serve Nigerian customers better than ever before,” Adeleye said.