ShopRite Nigeria has debunked the story making the rounds that it plans to close shop and leave the country.
The company said it has not intentions of leaving Nigeria but expanding its business.
This was disclosed by the Country Director for Chastex Consult, Ini Archibong.
“ShopRite is not leaving Nigeria. We have only just opened to Nigerian investors which we have also been talking to just before now. We are not leaving, who leaves over a $30 billion investment and close shop? It doesn’t sound right.
“We only just give this opportunity to Nigerian investors to come in and also help drive our expansion plan in Nigeria. So we are not leaving.
“I have tried to say this as too many people as I can. There should be no panic at all and all of that. There is no truth in that report”, Mr Archibong said.
According to the company, the move became important so as to “unlock” the potentials in the West African nation’s retail business, explaining that the best way to do such is by involving local investors.