Nigeria’s economic circumstances seem to be causing many business firms to operate at a slower pace after the contentious election. This comes as ShopRite, another international corporation, prepares to close its doors in the Northwest, Kano location, following the exits of GKS and P & G.
Meanwhile, the decision was made public after a circular signed by the Retail Supermarket Nigeria Limited (RSNL) on Thursday, December 14, 2023, to lay off its workers, as discontinuation is the best option for the company due to the business climate condition in Nigeria.
The circular in parts reads:
- “I regret that our store in Ado Bayero Mall, Kano, will be closing its doors on January 14, 2024. This decision was not made lightly, as we understand the impact it may have on our employees and the community. However, after careful evaluation of the financial situation of the store and the current business climate, we believe that it is the best cause of action for the long-term growth of our organization.
- “We understand that this news may be difficult to digest. We want to assure you that we are here to support you during this transitional period, your well-being is our top priority, and we will do everything we can to assist you in finding new opportunities within our company, we encourage you to apply for any vacant position in existing our store across the country through the Human Resources department”
This news follows Jumia Food’s recent declaration that it will stop operating in Nigeria by the end of the month, citing the country’s high operating costs and growing economic concerns.
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