Retail Supermarkets Nigeria Limited (RSNL), the operator of the Shoprite franchise in Nigeria, has dismissed reports suggesting it is leaving the country.
In a statement on Friday, the company clarified that the recent empty shelves and temporary closures at some outlets were not signs of an exit but part of a “reset” of its business model designed to stabilise operations and adapt to current economic realities.
According to RSNL, the turnaround programme—backed by new investors—seeks to address challenges such as exchange rate volatility, rising inflation, and liquidity constraints.
The company noted that its previous model of running large-format stores with heavy reliance on imports and high overhead costs was unsustainable. The new strategy will focus on:
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Smaller, more efficient store formats.
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Stronger local supply chains, with over 80% of products sourced in Nigeria.
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Affordable private-label options.
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Improved liquidity management.
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Efficiency measures, including energy optimisation and cost savings across outlets.
Chief Strategy Officer, Bunmi Cynthia Adeleye, said:
“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 reiterated its commitment to Nigeria, assuring that it will continue to serve millions of customers and suppliers as part of its long-term growth plan.
