South Africa owned retail giant, Shoprite has dismissed reports that it is planning to exit Nigeria, describing them as false.
The Country Director for Chastex Consult, Ini Archibong who debunked the rumour a chat with Vanguard, said the retail outlets could not leave its $30billion investment in the country and close shops.
“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 $30billion investment and close shop? It doesn’t sound right,” he told Vanguard.
“We only just given this opportunity to Nigeria 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.”