Shoprite Nigeria plans standalone neighborhood stores as part of a smaller-format reset, but its scale and timing remain undisclosed, Adekunle Adebiyi, executive director of investments at MBO Capital Management Limited, told Nairametrics.
Nairametrics reported the comments Oct. 24. Adebiyi said three stores had reopened after a pause tied to supplier discussions and efforts to address financial obligations. He did not identify those outlets or give a count, locations or timetable for the planned expansion.
Adebiyi also pointed to currency exposure from property leases. He said about 17 of the retailer’s 28 stores had dollar-priced leases at acquisition, making rent more costly as the naira depreciated. In his view, rent should ordinarily account for 8% to 10% of a supermarket’s revenue, though some Shoprite locations were substantially higher.
Retail Supermarkets Nigeria Limited (RSNL), Shoprite’s Nigerian operator, framed its broader reset in a September 2025 statement as a response to currency volatility, inflation and constrained liquidity. The company said its earlier model depended on large stores and imports, and that its response included smaller, more efficient formats and sourcing more than 80% of products in Nigeria.
In March 2026, RSNL Chief Strategy Officer Bunmi Cynthia Adeleye told Nairametrics the company was reviewing neighborhood stores to reduce rent, electricity and diesel costs. RSNL has also cited outlet-level economics in explaining a past closure: it said consumer buying power, operating and rental costs, and negative financial performance led it to close the Ado Bayero store in Kano in January 2024. The company has not announced locations, an outlet count or an opening date for Adebiyi’s plan.
