Shoprite Nigeria plans to open standalone neighbourhood stores as part of efforts to revive its business following financial difficulties and a restructuring of its operations.
Adekunle Adebiyi, Executive Director of Investments at MBO Capital Management Limited, an investor in the business, disclosed this during an interview on Nairametrics’ Drinks and Mics programme on Friday.
Adebiyi said three outlets had reopened after the company temporarily shut its operations to negotiate with suppliers and settle outstanding financial obligations.
He said the retailer would focus on smaller stores in residential areas rather than depend mainly on large shopping malls.
According to Adebiyi, the strategy is intended to reduce operating costs and allow the company to concentrate on its core retail business.
He identified foreign exchange volatility as a major factor behind Shoprite’s financial challenges, explaining that 17 of its 28 stores had dollar-denominated rent agreements when investors acquired the Nigerian business in 2021. The naira’s depreciation subsequently increased rental costs.
He also cited inventory management problems and the costly replacement of the company’s former parent’s enterprise resource planning system as additional challenges.
Shoprite Nigeria operates under Retail Supermarkets Nigeria Limited following the 2021 acquisition of its local operations by investors led by Persianas Investment Limited.
In March 2026, the company said it was restructuring its operations rather than exiting Nigeria, with plans to reopen outlets at The Palms Shopping Mall and Circle Mall in Lagos.
The company has yet to announce the number of neighbourhood stores planned, their locations or an opening date.
