Few hours after Shoprite announced its plans to stop operations in Nigeria, twitter has gone haywire with reactions from Nigerians.
The South Africa retail giant formally announced the commencement of the process to discontinue its operation in Nigeria Monday via its operational and voluntary trading update for the year which ended on June 28, 2020.
Shoprite said the decision it because it’s“following approaches from various potential investors, and in line with our re-evaluation of the group’s operating model in Nigeria.”
PlatinumPost recalls that the popular shopping mall opened its first Nigeria store in December 2005, with currently 26 stores across eight states in the country.
This move has stared reaction from Nigerians on twitter who have made the hashtag #Shoprite trending number one.
See tweets below:
If Shoprite wants to stay,they can stay;if they want to go,they can go;it will help local supermarkets to grow.
— Senator Shehu Sani (@ShehuSani) August 3, 2020
when etisalat left and 9mobile took over.
Shoprite can leave, ebeano will take over.
It doesn’t really affect anything, the staffs can be retained.
— Mr Alan (@Alan_yournextbf) August 3, 2020
My only problem with shoprite leaving nigeria is where will our Kaduna people that normally come to kano to snap pictures go again, it’s sad you know. But I don’t mind them leaving sha bc it’ll help small market grow, I’m just worried about our Kaduna💔🤦♂️😂
— BOSSMAN (@Capt_Aliyu) August 3, 2020
Asides the political bottlenecks & chaotic business strains associated with doing business in Nigeria, one other silent contributing factor why Shoprite is closing down, is staff theft. In 2017 alone, a sales girl stole N553M, one month after securing the job. There are many.
— Samuel Otigba: Blvck Apron (@SamuelOtigba) August 3, 2020
The exit of Shoprite from Nigeria should tell you what you need to know about the “size of the Nigerian consumer market” and the economic incompetence of the present administration.
Anyway, Leventis & Kingsway Stores suffered the same fate under a previous Buhari Administration.
— Onye Nkuzi (@cchukudebelu) August 3, 2020
Mr Price has closed shop and left Nigeria. Apparently Shoprite too is closing its operations and leaving Nigeria after selling its stakes.
Very soon multichoice and MTN might also leave. Buhari is really doing a great job and Nigerians are lucky to have him as President.
— Kelvin Odanz (@MrOdanz) August 3, 2020
So Shoprite is discontinuing operations in Nigeria and selling a majority stake to other investors.
As you can see, they had a bad year 12 months to June 2020. Even SA that has been struggling to grow has a better consumer market. Rest of Africa wasn’t as bad as Naija too. pic.twitter.com/CiTX8oSfo8
— banker emeritus (@Adheydayor) August 3, 2020
In South Africa and Nigeria, Shoprite caters to a lower middle class population. This means Nigeria’s lower middle class population has reduced so much that even they can no longer cover Shoprite’s cost of doing business. Sigh. https://t.co/0O6GqVGfcm
— Ayo Sogunro – #Transformist (@ayosogunro) August 3, 2020
Cost of doing business is so high in Nigeria. You provide your own power, your own water etc…
Costs just keeps getting higher and higher.
The unfortunate thing about this Shoprite debacle is the huge loss to staff, contractors and supplier.
An unfortunate domino effect.
— the Morris Monye factor (@Morris_Monye) August 3, 2020
Shoprite is leaving Nigeria because Nigerians now have less disposable income to spend at their outlets than before. Poverty is creeping on us all while our Supreme Leader idles and his minions demand we “live within our means”
— EDWARD Israel-Ayide (@wildeyeq) August 3, 2020