Shoprite Mall, a popular retail supermarket in Nigeria, has announced that it will be shutting down its Wuse Store in Abuja by June 30, 2024. According to the company’s CEO, Dr Folakemi Fadahunsi, the decision was taken after a thorough evaluation of the store’s financial situation and the current business climate.
The supermarket has notified its vendors of this closure, thereby terminating all existing service contracts.
A staff at the store who pleaded anonymity also confirmed the report, saying “Yes, it is true, we just heard it here too.”
This development follows a trend of multinationals scaling down or exiting the Nigerian market due to economic and business challenges, with Diageo selling its stake in Guinness Nigeria in June 2024.
