Retail Supermarkets Nigeria Limited (RSNL), the operator of the Shoprite franchise in Nigeria, has debunked reports suggesting that it is exiting the country.
In a statement on Friday, the company clarified that the recent sight of empty shelves and temporary closures at some outlets is part of a “reset” of its business model, not a withdrawal from the Nigerian market.
The retailer explained that it is undergoing a turnaround programme backed by new investors, aimed at stabilising operations and adapting to Nigeria’s current economic realities, including exchange rate volatility, high inflation, and liquidity challenges.
According to RSNL, the old model of operating large-format stores heavily reliant on imports and high overhead costs had become unsustainable. The new strategy will focus on smaller, more efficient outlets, stronger local supply chains—sourcing over 80 per cent of products within Nigeria—and private-label affordable options.
The plan will also include better liquidity management, energy optimisation, and cost-saving measures across all stores.
Chief Strategy Officer of RSNL, Bunmi Cynthia Adeleye, noted:
“Yes, it has been a tough period, but this is not a collapse; it is a reset. The old model did not work for Nigeria. With new investors behind us, we are rebuilding Shoprite to be more local, culturally relevant, more affordable, and more resilient. We are coming back bigger and stronger to serve Nigerian customers better than ever before.”
RSNL reaffirmed its long-term commitment to Nigeria, stressing that it remains dedicated to serving millions of customers and supporting local suppliers as part of its growth strategy.
