Retail chain ShopRite has dismissed rumours that it has shut down operations in Nigeria, confirming plans to open two new stores in Lagos at The Palms Shopping Mall and Circle Mall this March.
In an exclusive conversation with Nairametrics, Bunmi Adeleye, Chief Strategy Officer at Retail Supermarkets Nigeria Limited, the new owners of the Shoprite franchise, said the company is undergoing a restructuring program aimed at strengthening operations rather than exiting the Nigerian market.
The statement followed speculation that the supermarket chain had ceased operations in the country after reports that some of its stores were closed.
According to the company, the planned openings form part of a phased turnaround strategy to optimise store formats and improve operational efficiency.
Bunmi Adeleye explained that the two new outlets will open in March 2026 as part of a structured turnaround plan that began in August 2025.
She also disclosed that the company recently hired a Chief Commercial Officer, adding that the retail chain currently operates about 23 stores across 14 states in Nigeria.
Adeleye said speculation about a potential shutdown may have been fueled by disgruntled employees or competitors, although no specific instances were identified.
Following those exits, some retail spaces remained vacant, while others were later leased at significantly lower rates.
As part of its restructuring plan, ShopRite is also reviewing store formats and considering smaller neighborhood outlets to reduce expenses related to rent, electricity, and diesel, while aligning with evolving consumer shopping habits.
There have been speculations that ShopRite has shut down its Nigerian outlets, largely stemming from reports that some of its stores were seen closed. However, the company says it is restructuring rather than shutting down.
Shoprite first entered Nigeria on December 16, 2005, under its former South African owner, Shoprite Holdings Limited (SHL), with a store at The Palms Shopping Mall in Lagos.
Despite challenges such as currency fluctuations, inflation, and high operating costs, ShopRite says the phased turnaround program is ongoing, and the new store openings in March 2026 at Circle Mall in Jakande and The Palms in Oniru confirm that it continues to operate across Nigeria.