‘’We Are Only Providing Opportunity Investors To Help Drive Expansion Plan’’ Shoprite Shutdown Reports Of Leaving Nigeria

Shoprite Nigeria says there is no truth in alleged report of plan to exit the Nigerian market.

The Country Director for Castex Consult, Ini Archibong in a telephone chat with Vanguard on the news of a planned pullout the retail giant from Nigeria over an alleged drop in revenue occasioned by the challenges of Covid-19 aseerted ‘’Shoprite is not leaving Nigeria. We have only just opened to Nigerian investors which we have been talking to just before now. We are not leaving, who leaves over a $30Billion investment and close shop? It doesn’t sound right

‘’We only just just given this opportunity to Nigeria investors to come in and also help drive our expansion plan in Nigeria, We are not leaving

‘’I have tried to say this to as many people as I can. There should be no panic at all and all of that. There is no truth in that report.’’

This clarification comes in the face of widespread reports that Shoprite is pulling out of Nigeria premised on a leaked internal memo that was misinterpreted.