Shoprite Set to Open Neighbourhood Stores After Shutdown
Shoprite Nigeria plans to open standalone neighbourhood stores as part of efforts to revive its business after a temporary shutdown, according to an investor in the chain. ThisDay reports that three stores have reopened, and that the retailer has not yet said how many new outlets it will open, where they will be, or when.
What the investor said
Economy Post reports that Adekunle Adebiyi, executive director of investments at MBO Capital Management Limited, said three Shoprite stores resumed operations after the company shut its stores to negotiate with suppliers and settle financial obligations. He said, “We’re going to be opening standalone neighbourhood stores, which was always the plan.”
According to Economy Post, Adebiyi said the approach would let Shoprite focus on its core retail business rather than tie up large funds in property development. ThisDay adds that the retailer typically leases its premises and invests mainly in equipment such as refrigeration.
Why the business struggled
ThisDay reports that Adebiyi named foreign exchange volatility as a major cause of the financial difficulties. He said about 17 of the 28 stores had dollar-denominated rent when the acquisition took place, which became far costlier as the naira weakened.
He said rent should ordinarily be between eight and 10 per cent of a supermarket’s revenue, but some Shoprite locations faced much higher rental costs, according to ThisDay.
Background and ownership
BusinessDay, citing Nairametrics, reports that a consortium led by Persianas Investment Limited completed the acquisition of Shoprite Nigeria in June 2021, after South African retailer Shoprite Holdings chose to exit direct ownership. Nigerian Eye says Shoprite Holdings announced plans to leave the market in August 2020 after a sustained decline in sales.
Legit.ng reports that Shoprite Holdings also agreed to dispose of its remaining property interests in Nigeria during its 2026 financial year. ThisDay says the business has since continued under Retail Supermarkets Nigeria Limited through a franchise arrangement.
In March 2026, the company dismissed reports of a nationwide shutdown and announced plans to reopen outlets at The Palms Shopping Mall in Oniru and Circle Mall in Jakande, Lagos, according to Nigerian Eye. BusinessDay says the company described a phased restructuring that began in August 2025, and that it was exploring smaller store formats to cut rent, electricity and diesel costs.
Quick timeline:
- August 2020: Shoprite Holdings announces plan to exit Nigeria, per Nigerian Eye.
- June 2021: Persianas-led consortium completes acquisition.
- August 2025: Phased restructuring begins, per BusinessDay.
- March 2026: Company denies nationwide shutdown and plans mall reopenings.
- October 2026: Investor says three stores are back and neighbourhood stores are planned.
What happens next
Economy Post says the plan’s success is likely to depend on controlling rent and other costs, better inventory management and sustainable financing. The company has not disclosed the number or locations of new stores, or a timeline, according to ThisDay. The company had not issued a separate statement in the sources reviewed. Readers should watch Shoprite Nigeria’s official channels for confirmed announcements.
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