The Board of Africa's biggest retailer, Shoprite, has announced plans to discontinue operations in Nigeria after 15 years in. While this may open up opportunities for local investors in that sector, it is a bad pointer to what Nigeria has become as an investment destination. 
It is also an indicator to how poorer Nigerians have become, as grocery retail is a direct beneficiary of a prosperous citizenry. A continuing exit of large retailers simply mean one thing - disposable income is reducing. Govt needs to fix poverty level and stop virtue signaling.
Again, I have always said most investors overestimate the Nigerian market. Even most analysis on Shoprite exit are emphasizing on Nigeria being the most populous African country. We often forget that over 70% of us live in poverty. And only Lagos holds a real economic promise.
But again, as I said in my first tweet, one man’s misfortune may be another’s opportunity. This is an opportunity for even more SMEs to plug in and fill the vacuum, especially in serving the bottom of the pyramid mass market.
