Shoprite Denies Nigeria Exit Plans, Announces Business Restructuring

Retail Supermarkets Nigeria Limited (RSNL), the operator of Shoprite stores in Nigeria, has denied rumours of shutting down its operations across the country. The company confirmed it is undergoing a comprehensive business restructuring to adapt to Nigeria’s current economic challenges.

The retail giant acknowledged temporary closures of some stores, including outlets in Ilorin and Ibadan, and empty shelves in locations like Lagos and Abuja. However, it attributed these developments to a strategic reset rather than an impending exit. Chief Strategy Officer Bunmi Adeleye described the move as a shift from the previous business model, which relied heavily on large store formats, imports, and high overheads—an approach deemed no longer viable due to exchange rate volatility, rising inflation, and constrained liquidity.

As part of its new strategy, Shoprite is focusing on local supply chains, with over 80% of its products now sourced within Nigeria. The company is also transitioning to smaller, more efficient store formats, improving affordability through private labels, and implementing smarter liquidity management. Adeleye emphasized that the restructuring is intended to stabilize operations and position Shoprite for long-term growth, stating, “We are rebuilding Shoprite to be more local, culturally relevant, more affordable, and more resilient”.

The retailer faces significant challenges, including intense competition from local supermarkets, high operational costs, and unreliable infrastructure. Despite these hurdles, Shoprite remains committed to the Nigerian market and aims to restock its shelves and reopen closed stores by the end of September 2025, following the completion of its annual financial audit.

Shoprite entered Nigeria in 2005 and grew to 25 stores across the country, employing over 2,000 people directly and supporting local supply chains, particularly among farmers.