In an exclusive interview with Nairametrics, Bunmi Adeleye, Chief Strategy Officer at Retail Supermarkets Nigeria Limited (RSNL), the current owners of the ShopRite franchise, explained that the company is undergoing a restructuring program to strengthen operations rather than shut down.
“The program started in August 2025 when we received approval to begin,” Adeleye said. “We have successfully completed the first 90 days, reached the six-month milestone in February, and are now moving toward the 12-month milestone. The new stores opening later this month form part of this phased strategy to optimise our store formats and improve operational efficiency.”
She also highlighted that the company recently appointed a Chief Commercial Officer and currently operates around 23 stores across 14 states in Nigeria.
According to Adeleye, rumours of a shutdown may have stemmed from store closures at certain locations, often due to unsustainable rents, especially in large shopping malls where leases are denominated in dollars. In some cases, rent reportedly accounted for more than half of store revenue, prompting exits after negotiations failed.
As part of its ongoing turnaround, ShopRite is reviewing store formats, with plans to explore smaller neighborhood outlets that are more cost-efficient, reducing expenses for rent, electricity, and diesel while catering to changing consumer shopping habits.
Background:
ShopRite first entered Nigeria on December 16, 2005, under its former South African owner, Shoprite Holdings Limited (SHL), with a store at The Palms in Lagos. SHL later exited, citing challenging operating conditions, and RSNL acquired the franchise, continuing to expand the brand across Nigeria.
Despite operational challenges, including currency fluctuations, inflation, and high costs, the retailer has stressed that its phased turnaround program remains on track. The new openings at Circle Mall and The Palms reinforce ShopRite’s commitment to maintaining a strong presence in the Nigerian retail market.