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Shoprite Nigeria resets business model, denies exit rumours

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Shoprite Nigeria resets

Shoprite Nigeria reset business model to stay competitive, debunks exit claims, and announces new local-focused strategy backed by investors

Shoprite Nigeria reset business model plans are now underway, as Retail Supermarkets Nigeria Limited (RSNL) firmly dismissed speculation that it is exiting the country.

Also read: ECOWAS Energy Information System Workshop to strengthen regional energy data integration

The company, which operates the Shoprite franchise across Nigeria, clarified that recent store closures and empty shelves are part of a strategic business reset, not a shutdown.

In a statement issued on Friday, RSNL explained that it is undergoing a turnaround programme supported by new investors.

This effort, the company said, is designed to respond to Nigeria’s volatile exchange rates, rising inflation, and overall economic pressures, not a withdrawal from the market.

“The old model of operating large-format stores with high import dependency and heavy overheads is no longer sustainable,” said Bunmi Cynthia Adeleye, Chief Strategy Officer at RSNL. “

Yes, it has been a tough period, but this is not a collapse; it is a reset.”

The company revealed that its transformation plan includes a shift to smaller, more efficient store formats, an emphasis on sourcing over 80% of products locally, and increased focus on private-label affordability.

Key features of the reset also include:

  •  Strengthening local supply chains
  •  Improving liquidity management
  •  Cutting costs through energy optimisation
  •  Making the brand more culturally relevant and accessible to Nigerian consumers

“We are rebuilding Shoprite to be more local, more affordable, and more resilient,” Adeleye added.

“We are coming back bigger and stronger to serve Nigerian customers better than ever before.”

The company reaffirmed its long-term commitment to Nigeria, noting that it will continue to serve millions of customers and suppliers nationwide.

This announcement comes amid public concern over visible signs of distress in some outlets, which included temporary closures and low product availability.

Also read: Billionaire Businessman, Harry Akande, Battles Shoprite

However, the retail giant insists these are short-term adjustments during its transformation journey.

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Jubril Adewale Tinubu: The Global Ascent of An Energy Titan

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Wale TinubuUnarguably, Jubril Adewale Tinubu, Group Chief Executive Officer, GCEO, Oando Plc, is one of the few who command a great deal of reverence in Nigeria’s vast and ever-evolving energy landscape.

To keen watchers of developments in the nation’s energy sector, Tinubu’s pedigree transcends more than being the  head honcho of Oando; he is the rare alchemy of audacity and foresight.

Today, his name has become synonymous with resilience and brilliance; he is also a figure whose influence transcends sectors, borders, and generations.

Interestingly, his reputation built on entrepreneurial flair and ingenuity has always earned him  worthy mention among an elite class of business leaders whose legacies are not just written, but engraved.

However, unlike some others who view Africa’s economic horizon through a haze of uncertainty, Tinubu sees opportunity beckoning to him always.

With this perspective, one easily understands Oando’s rise from a modest downstream operator to one of Africa’s most formidable integrated energy companies.

Oando, under the exemplary leadership and management style of Tinubu, has expanded across exploration, production, power, and renewables.

At every given opportunity, Tinubu hammers on the need for Africa to harness its own vast resources to define its destiny.

Given his trademark philosophy to act, tarry or strike with precision, he has been able to navigate Oando through global market shifts, regulatory waves, and economic downturns without so much noise.

Perhaps,this is the secret to his dazzling recognition and honour since the break of the outgoing year 2025. In January, he bagged the Investor / Transaction of the Year 2024 at the New Telegraph Awards in  Lagos.

The recognition followed Oando’s landmark $783 million acquisition of Agip Oil Company, a transaction completed in August 2024 and hailed as one of the year’s most significant moves in Nigeria’s economy.

But that was only a precursor to several other accolades for Tinubu, as he was again honoured with the prestigious Lifetime Awards at the Africa Energy Week, AEW, 2025.

Like the compass with which Oando navigates the nation’s unpredictable energy terrain, Tinubu is perpetually in quest of the opportunity to position the company as both a continental powerhouse and a symbol of African ingenuity.

Again, evidence that Tinubu’s influence has become global came to the fore when Oando emerged as the preferred bidder for the Trinidad refinery.

Despite a dip in revenue, Oando posted a $145 million profit in the first nine months of its 2025 fiscal year—a testament to disciplined strategy and Tinubu’s steady hand at the helm.

Meanwhile, the most significant signal of Oando’s next chapter came recently with an announcement that underscores Tinubu’s instinct for the future: Oando is diversifying into mining, with a sharp focus on lithium and other minerals critical to the clean-energy transition.

The company has already assembled a strong team of seasoned geologists and launched exploration activities across Nigeria, including a major program in Kebbi State. By the end of 2025, Oando aims to complete its field evaluations and identify a prime location for pilot lithium production.

With the global demand for rechargeable batteries—driven by tech and electric vehicles—skyrocketing, Tinubu is positioning Oando at the heart of the next energy revolution.

It is not for fun that his admirers fondly describe him as the man who sees tomorrow. He is a strategist sculpted by foresight, a leader driven by conviction, and a relentless believer in Africa’s potential.

In an age craving visionaries, Tinubu stands out- he is clear -eyed, bold, and prepared for the future he already sees taking shape.

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Energia launches graduate trainee programme to develop young professionals

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 Energia Limited launches a graduate trainee programme to accelerate career growth of young Nigerian professionals in the energy sector.

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Nigeria launches $10bn petroleum licensing round to boost production

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Nigeria launches 2025 petroleum licensing round to attract $10bn investment and unlock up to two billion barrels of oil.

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