ShopRite Nigeria has reacted to the story making the rounds that it intends to close shop in Nigeria.

 There were stories earlier today indicating that the company had concluded plans to exit the country.

 However, Country Director for Chastex Consult, Ini Archibong, in a telephone conversation with Vanguard said they are not leaving.

 He said:

“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.

“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.”