After more than a decade in Nigeria, Shoprite plans to exit Nigeria

After more than a decade, precisely 15 years in Nigeria market, grocery retailer ShopRite from SouthAfrica have decided to leave Nigeria. 

 If you could recall a few months ago, a South African brand in the person of Mr.Price exited the Nigerian market. Right from 2018, international supermarkets in which Nigeria was not among contributed about 11.6 percent to group sales, and in sales from that same year (2018), they reported 1.4 percent decline in sales. 

What this indicates that the overall sales from 2018 was about 78 percent which led to a 8.7 percent increase since 2018. 

According to reports, potential investors have approached the company to continue from where Nigeria stopped.

According to the statement made by ShopRite on Monday;

“As such, Retail Supermarkets Nigeria Limited may be classified as a discontinued operation,”