₦airaland Forum

anyilalaz:
The government of Buhari initiated the erosion of the middle class. Then the icing was Tinubu policies exacerbated the situation. Middle class is gone.

The upper class don't go to such place much. Any economy that has up to 70% of the middle class shows a booming economy.

VinnyBaba:
Lols
This OP funny Sha.

Says everywhere was Empty and he was Pissed.

Truth is Tinibu KILLED this Country.

He took away the Purchasing Power and Free Spending spirit of average Nigerians.
Now, Pple are VERY careful when spending their Money.

Sirianese:
Na Statistic you go chop na...shebi y'all voted for the Lagos Bandit

Twist4u:
in early 2024, public Media reported that 7.2 million Small & Medium scale businesses collapsed in Nigeria with 0ver 10 conglomerate company closed down under less than 2 years of Balabluuuu tragedy.

What the APC regime : Buhari & Tpain did to the entity called Nigeria is irreversible, they murdered hope & patriotism.

LagosOrigin:
Nigerian government bad policies happened to shoprite

So, why are other supermarkets opening up and spreading fast in the same country?

Grand Square, Addide, Bokku, Jendol, Just rite, etc

Why are open markets not shutting down?

Osebanjo:
LOL. Una and politics sha. I think the problem is actually more than politics. Shoprite was busy shutting down in every country but Amusan decided to try his luck by acquiring the Nigeria franchise. Guess he’s just getting to know why they were shutting down in the first place everywhere except SA. I can bet it’s competition if you ask me.

Lies
It's as a result of Tinubu's bad economy. It has affected most companies and businesses. Not only ShopRite.

Typing:
Lies
It's as a result of Tinubu's bad economy. It has affected most companies and businesses. Not only ShopRite.

What of other supermarkets that are springing up within the same period?

What of other countries where ShopRite shut down?

Penguin2:
Shoprite is dead and waiting to be buried.

What you are seeing is just a carcass.

They owed my company for a long time that we almost sued them.

But I heard some Lebanese guys are trying to buy it now.

Better .. Lebanese will handle it better

Your wailing just de start. I will be voting for Tinubu n whoever APC present after Tinubu so get ready to wail till eternity.

youngsahito:
Shebi the gbajue Tinubu that built Lagos is building Nigeria now. This doesn't stop the gullible followers from not voting him in 2027.

Nigeria's trajectory has changed because the mindset and focus of Nigerians changed.

Money is carefully planned now, and priorities are carefully considered albeit with a lot of suffering.

It's a completely different country in terms of cumulative Nigerian thoughts and emotions, compared to the period before MR T.

It may be good, and it may be bad. Only time will tell.

The purchasing power of the Naira is done! Bad economic policies, terrible leadership, propaganda and ethnic profiling finally buried it.

A terrible leadership will burn his country to the ground and rule over its ashes!

Walai:
Due to the nature of my business, I can confirm at least 50 upper middle class families with huge purchasing power I did business with that left Port Harcourt alone. The ones in Lagos is countless.
ShopRite is an upper middle class business. They left and there's no one to buy. The iPhone girls and broke boys only go there to snap pictures and look for clients to hook up with.

What makes Shop rite an upper middle class biz?
It's either you don't know what an upper middle class biz is or you are one of those that read textbooks and want to apply it to anything you come across.
A shop that all cadres of people visited because of it's considerate prices and it's uniqueness and ambience.
The truth is that cost of transportation and drastically curtailed purchasing power across board has dealth a blow on super stores like that.
Now you must either have a car to go shopping there or your biz or work path is along any of the locations,so you can easily branch to get some stuff.
Previously people of lower class could just take a cheap bus fare just to go to Shoprite to buy even just bread or hang around for the fun of it.
They can't now because it doesn't make any sense to spend 2-3k on transportation just to buy a 1900 bread.

Globad:
What of other supermarkets that are springing up within the same period?

What of other countries where ShopRite shut down?

Those ones will also shut down any moment. Tinubu's policies is responsible for everything

So you mean to tell me that the 1900 naira bread the poor can only offer is what drives a multimillion dollar business? Like seriously?
The upper middle class are mostly the Industrialists, Business men, Civil Servants in Managerial positions in govt offices and staff of MNC's in the oil, finance and services sectors.
The lower Middle class are mid level civil servants, Artisans and SME's entrepreneurs.
For a large scale FMCG business to survive in any area, the upper middle class is highly needed. They buy things in bulk because of their purchasing power.
The lower middle class hardly buy things in bulk and they mostly patronize local markets that are much cheaper.
Can a school principal or staff of Ministry of Agriculture for example spend 800k in one sitting just to stock up on food and groceries?

I understand this is a faceless forum but some of us are seasoned professionals in our fields and speak from experience.

seborrhic:
What makes Shop rite an upper middle class biz?
It's either you don't know what an upper middle class biz is or you are one of those that read textbooks and want to apply it to anything you come across.
A shop that all cadres of people visited because of it's considerate prices and it's uniqueness and ambience.
The truth is that cost of transportation and drastically curtailed purchasing power across board has dealth a blow on super stores like that.
Now you must either have a car to go shopping there or your biz or work path is along any of the locations,so you can easily branch to get some stuff.
Previously people of lower class could just take a cheap bus fare just to go to Shoprite to buy even just bread or hang around for the fun of it.
They can't now because it doesn't make any sense to spend 2-3k on transportation just to buy a 1900 bread.

Walai:
Due to the nature of my business, I can confirm at least 50 upper middle class families with huge purchasing power I did business with that left Port Harcourt alone. The ones in Lagos is countless.
ShopRite is an upper middle class business. They left and there's no one to buy. The iPhone girls and broke boys only go there to snap pictures and look for clients to hook up with.

I'm genuinely curious, these people that left Port Harcourt, where did the majority flee to? Those that left Lagos, to where please?

Why are they running?

franchasofficia:
Even online vendors are struggling to stay in business now, only few are making it big compared to 8 years ago. Only content creators making people to laugh away their sorrows are the ones making good money online through Facebook, X, etc ad revenue sharing.

Jumia, Konga, etc are all struggling to make sales now compared with 8 to 9 years ago.
The issue is that the purchasing power of Nigerians have been reduced to the barest minimum. People are barely surviving in Nigeria. Inflation have wiped off Nigeria's Middleclass population, couple with mass unemployment, japa wave, etc

Wahala dey o.

But Nna, people are flexing on Instagram and TikTok! Parties are being held weekly. Where are they seeing this money?

P.S. Jumia should cease to exist. The model doesn't work in Nigeria.

You see oyinbo..., Fear them... If they sell you something, even if it's still looking healthy, trust me there is something going down about that thing u haven't seen yet...

When the owners of shop right announce it for sale, you will wonder what is wrong with them... Because as at then, it's malls were all very busy and bubbling with large crowd... But economics from their stables have advice them to sell off... They were told from them on, it will be decline... As good as they were, they followed advice and sold off...

The Nigerian man thought he knew more than ppl who established, manages and saw its peak are seeing... He gave them billions and changed ownership...

Since then, steadily there was gradual decline... and now very visible ones...


Next is DStv which has been sold off... Sensing fast decline spending for leisure as poverty grips Nigeria, again with the growing popularity of internet channels subscriptions t. V ...

Let's watch as canal + is not a walk over also

franchasofficia:
This is the just the summary of the issue and there is no end in sight.


It's going to get worse next year as Tinubu the tax master refuses to have pity on Nigerians he impoverished with his thoughtless policies by further rolling out demonic tax law that will further throw more Nigerians into poverty from January 2026.


Honestly it seems the man is demon possessed because I am struggling to understand why this man is so bent on taxing already poor and struggling Nigerians to oblivion in the name of widening Nigeria's tax net for the future, which future?

It has nothing to do with government policies ,it 8s poor management system and as for your jumia bit please read below

Jumia Technologies, the parent company of Jumia Nigeria, has experienced a decline in its overall revenue in recent years, though there are signs of a turnaround in 2025, especially in key markets like Nigeria. It is important to note that Jumia's financial reports are for the entire Jumia Group, not broken down by specific country. However, the reports often highlight the performance of their major markets, including Nigeria.
Here is a breakdown of Jumia's revenue and growth from 2023 to June 2025, based on the company's financial reports:
2023
* Full Year 2023 Revenue: Jumia reported a total revenue of $186 million for the full year 2023. This represented an 8% year-over-year decline from 2022.
2024
* Full Year 2024 Revenue: Revenue for the full year 2024 was reported as $167.5 million, a decline of 10% year-over-year compared to 2023.
* The decline in revenue in 2024 was primarily attributed to currency devaluations, particularly in Nigeria and Egypt, as well as a decrease in marketplace revenue and first-party sales.
2025
* Q1 2025 Revenue: Jumia's revenue in the first quarter of 2025 was $36.3 million, a 26% drop from Q1 2024. This was largely due to a slump in corporate sales in Egypt and ongoing currency challenges.
* Q2 2025 Revenue: In a significant positive shift, Jumia's revenue for the second quarter of 2025 increased by 25% year-over-year to $45.6 million. This growth was driven by an increase in orders and strong performance in core consumer-focused business. Nigeria, specifically, saw a 25% increase in orders and a 36% surge in Gross Merchandise Value (GMV) in Q2 2025.
In summary, Jumia's revenue experienced a downward trend in 2023 and 2024, continuing into the first quarter of 2025. However, there was a notable reversal in the second quarter of 2025, with strong revenue growth and a significant increase in orders and GMV in Nigeria.

Globad:
So, why are other supermarkets opening up and spreading fast in the same country?

Grand Square, Addide, Bokku, Jendol, Just rite, etc

Why are open markets not shutting down?

Check them after the Yuletide, perhaps by February 2026...

youngsahito:
Shebi the gbajue Tinubu that built Lagos is building Nigeria now. This doesn't stop the gullible followers from not voting him in 2027.

you are just gullible and a bitter soul. ShopRite now have alot of competitors. Justrite, jendor and boku are spreading like wildfire in every corner of Lagos. Those days, those living in abule egba, iyana ipaja, agege, egbeda, fagba and co, shop at the ikeja ShopRite but today, they just visit any available one closer to them. Jendor open their biggest supermarket in Lagos at Ajah early this year and nobody from various estate like Thomas, royal garden, Abraham adesanya estates will leave them and be driving to either lekki ShopRite or sangotedo ShopRite. Emeka always use your brain. Within a year, boku had open more than twenty branches.

They are our clients that relocated between 2015 - 2024. 50 is even a fair estimate for PH alone. Owerri, Warri and the baba of them all is Lagos.
They all Japa to Western countries majorly US, Canada, Australia, some to Germany and Switzerland for different reasons. Infact I know a US MIT trained Engr working in a major oil company then that was kidnapped twice in 6 months that left Nigeria with his family immediately.
If you have been in Nigeria, you should know what has been happening since 2015 and why they are leaving.

Gerrard59:
I'm genuinely curious, these people that left Port Harcourt, where did the majority flee to? Those that left Lagos, to where please?

Why are they running?

Well, it seems that the shoprite closures are not limited to nigeria.

Here is a detailed article from a Tanzanian website. Why is shoprite closing all its stores across Africa

Key takeaways

1. Shoprite has closed shop across many African countries

2. The key problem is the supermarket culture has not really taken off across Africa , many people prefer to go to shops near their homes to buy stuff (That's an advantage chains like Grand square have. )

3. In tanzania, shoprite sold its shops to a local investor, like in Nigeria. Unlike Nigeria, the local investor has taken off.

4.The company wants to focus on South Africa alone for now.

So, far more than just tinubulation economics.

Globad:
So, why are other supermarkets opening up and spreading fast in the same country?

Grand Square, Addide, Bokku, Jendol, Just rite, etc

Why are open markets not shutting down?

Politician can loot funds & go into private businesses
Can’t they ?

Typing:
Lies
It's as a result of Tinubu's bad economy. It has affected most companies and businesses. Not only ShopRite.

Shoprite is closing in many African countries to focus on South Africa. YES...tinubu is a bad leader. YES, APC is the architect of many of our economic issues, since 2015, but Shoprite leaving nigeria has nothing to do with tinubu.

Are other Shopping malls springing up?! The answer is yes! ShopRite should do a rebranding and change their strategy.

SouthSouth1914:
The purchasing power of the Naira is done! Bad economic policies, terrible leadership, propaganda and ethnic profiling finally buried it.

A terrible leadership will burn his country to the ground and rule over its ashes!

I hate to be the guy, but unless tinubu is the ruler of all of Africa excluding south Africa, we can't blame him for shoprite leaving not just nigeria but several african countries.

The company is clearing out of many African countries, to focus on south africa.

If we voted good leaders instead of apc, if we voted for your side, or their side, or even voted out pdpapclp, and voted in new people, the results would still be the same. Problem is from the company, not from Nigeria, although apc economy won't have helped.

By the way, you say Buhari was a bad leader. Shoprite nigeria thrived for most of his regime, so you are now implying he is a good leader.

seborrhic:
What makes Shop rite an upper middle class biz?
It's either you don't know what an upper middle class biz is or you are one of those that read textbooks and want to apply it to anything you come across.
A shop that all cadres of people visited because of it's considerate prices and it's uniqueness and ambience.
The truth is that cost of transportation and drastically curtailed purchasing power across board has dealth a blow on super stores like that.
Now you must either have a car to go shopping there or your biz or work path is along any of the locations,so you can easily branch to get some stuff.
Previously people of lower class could just take a cheap bus fare just to go to Shoprite to buy even just bread or hang around for the fun of it.
They can't now because it doesn't make any sense to spend 2-3k on transportation just to buy a 1900 bread.

The funny thing is that in south africa, shoprite is where the lower class, and some of the middle class go to shop. The upper class, especially the whites go to better supermarkets there.

youngsahito:
Shebi the gbajue Tinubu that built Lagos is building Nigeria now. This doesn't stop the gullible followers from not voting him in 2027.

Stop saying voting. Definitely people will vote tinubu, people are working with him in his governement so he must get some votes. However, he has never and will never get majority vote. He can only rig as he rigged before.

Jokerman:
Please who knows what's happening to ShopRite at Ikeja City Mall? Are they in debt??

That place is a shadow of itself... Could not get anything from there- was so pissed.

Please what happening to the Nigerian Buyer?? Or are they leaving Nigeria?

Shoprite is gradually closing shop in Nigeria

When dey tell dem d truth dey will say we are de-marketing Nigeria. At d moment, Nigeria is only growing on Paper, CBN , FOREX, STATISTICS etc, but not Nigerians dem self. APC, things are hard,listen!

KillahPriest:
Una must to chop this statistics by fire by force

Tinubu is happening to them.

no money to buy anything again!

statistics chop us!
😭

Jokerman:
Please who knows what's happening to ShopRite at Ikeja City Mall? Are they in debt??

That place is a shadow of itself... Could not get anything from there- was so pissed.

Please what happening to the Nigerian Buyer?? Or are they leaving Nigeria?

Na the situation at every ShopRite stores across Nigeria be this now .
One of the main reasons is that there are now numerous superstores giving ShopRite serious competition aside the fact that the South African owners divested some years ago and sold it to the owners of palms mall who couldn't continue running it as effectively as the south Africans

Eras come to an end

Jokerman:
Please who knows what's happening to ShopRite at Ikeja City Mall? Are they in debt??

That place is a shadow of itself... Could not get anything from there- was so pissed.

Please what happening to the Nigerian Buyer?? Or are they leaving Nigeria?

Bokku Mart is running all the retail chains out of business, including the market women. Their prices are so low and affordable to the point you think they are actually stealing the groceries. Bokku needs to take this business model beyond Lagos so that other Nigerians can enjoy what Lagos people are enjoying.

Nobody has the time to shop elsewhere since Bokku is spreading across Lagos like wildfire, disrupting the groceries supply chain with their high quality but extremely low prices and positively shaping lives. So, competition is happening to ShopRite and its ilk.