Shoprite controls 22% of Nigeria’s formal retail, future to be driven by indigenous retailers
Retail Supermarket Nigeria Limited (RSNL), owners of Shoprite in Nigeria, is set to reopen its Circle Mall Store, as it ceases operations at the Maryland Mall.
The Circle Mall store which is located in Jakande, Lagos was closed down following the vandalization that erupted after the #EndSARS protests late 2020.
This was disclosed by the company via a statement, which was shared with Nairametrics, issued by its Chairman, Tayo Amusan, on Sunday.
According to Amusan, the reopening serves as an opportunity to show customers that the dogged Nigerian spirit runs deep, even as the team works to optimize its operations for continued productivity.
What Shoprite is saying about reopening
It stated, “We’re excited to be reopening after a long hiatus. We have had tremendous support and we are looking forward to once again opening our doors to our customers in the Jakande, Lekki area and its environs.
“We remain steadfast in our commitment to support the growth of the Nigerian economy even as we explore opportunities to expand our network of outlets thereby providing employment opportunities for Nigerians. We are also exploring opportunities to partner with more local farmers and small business owners to optimize agribusiness across Nigeria to considerably increase agricultural yield in the country.
“We have made the difficult, but necessary, decision to discontinue business operations from Maryland, for now. We thank the surrounding community for years of patronage and loyalty. Our commitment to Lagos state is unwavering and we look forward to providing area shoppers with enhanced shopping experiences in the future.”
What you should know
Shoprite Nigeria’s supply chain includes more than 300 leading Nigerian suppliers and boasts small businesses and farmers among its partners and suppliers.
The retail giant has also announced plans to open new stores in Kaduna, Port Harcourt, Benin and Jos as part of its expansion plans, increasing the company’s presence to almost 30 stores in the country.
“RSNL is looking to achieve faster growth, have greater impact, and allocate resources, including its workforce (comprising 2,000 workers, 99 percent of whom are Nigerian citizens) to more profitable investments. Since acquiring the business in June 2021, we have achieved very impressive, above inflation, growth in sales and are looking to build on that success while continuing our investment in different parts of Nigeria, with the support of our stakeholders,” Amusan added.
With the new store openings, Shoprite will be building on its existing store locations across 11 states and the Federal Capital Territory. The management plans on expanding to other states, creating employment opportunities, partnering with more local businesses and playing a major role in growing the Nigerian economy.