Shoprite Nigeria reset efforts are underway as Retail Supermarkets Nigeria Limited (RSN) confirmed it will not exit the market. The operator, owned by Tayo Amusan’s Ketron Investment Limited, admitted its old model of running large stores with heavy imports and high costs failed in Nigeria.
Recent store closures and empty shelves highlight the difficulties. RSN explained the shift as part of a turnaround program to survive rising inflation, currency fluctuations, and tight liquidity.
The reset focuses on smaller stores, stronger local supply chains, and expanded private-label goods. RSN aims to source over 80 percent of products in Nigeria. It will also reduce costs through energy optimization and other efficiency measures.
Chief Strategy Officer Bunmi Cynthia Adeleye said: “This is not a collapse; it is a reset. The old model did not work. With new investors, we are rebuilding Shoprite to be local, affordable, and resilient.”
Amusan’s Ketron Investment, under Persianas Group, acquired RSN over four years ago. Financial strain existed before the deal, with $125 million in assets against $140 million in liabilities by mid-2020. The acquisition was part of Persianas’ push into retail, hospitality, and real estate.
Yet closures continue. Shoprite shut its Wuse store in Abuja last year after evaluating finances. This week, outlets in Ilorin and Ibadan also closed. RSN said the decisions ensure long-term stability.
Nigerian consumers see locked doors and empty shelves as proof of the challenges. Weak spending, high costs, and strong competition make large-format retail tough. Still, RSN insists the Shoprite Nigeria reset will deliver a leaner, more resilient chain tailored for the local market.
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