Indigenous Companies Can Build Institutions That Compete With The Very Best – Marketsquare Ceo

By Nkiruka Nnorom

Ten years after opening its first store, Marketsquare has established itself as one of Nigeria’s leading indigenous supermarket chains, demonstrating the growing strength and resilience of local enterprise. In this interview with The Vanguard, Founder and Chief Executive Officer of Sundry Markets Limited, Mr. Ebele Enunwa, shares insights into the company’s decade-long journey, its contribution to Nigeria’s economic development, the values that have shaped its growth, and his vision for the future of organised retail in the country. The Excerpt

Ten years is a significant milestone for any Nigerian business. What inspired the original vision behind Marketsquare?

The vision was born from a simple observation: that Nigerians deserved a better retail experience.
For many years, grocery shopping in many parts of the country was often characterised by inconsistent standards, limited product availability, and environments that did not place the customer at the centre. I believed there was an opportunity to create something different – a retail business that combined international standards with a deep understanding of Nigerian consumers.

Our ambition was never simply to build supermarkets. It was to build an institution that would improve everyday life by making quality products accessible in clean, organised, and welcoming environments.
When we opened our first store in Yenagoa in 2015, the vision was larger than that single location. We wanted to demonstrate that excellence in retail should not be confined to a few major cities.
Every Nigerian community deserves quality, convenience, and respect. That conviction continues to guide us today.

Looking back over the past decade, what have been the biggest lessons from building an indigenous retail brand in Nigeria?

The biggest lesson is that resilience is not optional; it is a core business capability.

Nigeria presents enormous opportunities, but it also demands patience, adaptability, and discipline. Over the last decade, we have experienced economic recessions, foreign exchange volatility, inflation, supply chain disruptions, and the COVID-19 pandemic. Every one of those events tested our resolve.

What has sustained us is remaining focused on our purpose. We have never allowed short-term challenges to distract us from long-term value creation.

Another lesson is that people make businesses successful. Buildings and technology matter, but, ultimately, it is committed employees, trusted suppliers, and loyal customers that determine whether a company succeeds.

Finally, I have learnt that indigenous businesses should never underestimate their own potential. Nigerian companies are capable of building institutions that compete with the very best when they combine vision with disciplined execution.

How would you describe Marketsquare’s contribution to Nigeria’s economic development over the last ten years?

We see ourselves as participants in Nigeria’s economic development, not merely beneficiaries of it.
Today, Marketsquare directly employs more than 4,000 Nigerians, supports hundreds of local suppliers, and serves over two million customers every month. Behind each of those numbers are families whose livelihoods depend on the success of indigenous enterprise.

Beyond employment, we have invested in communities through education initiatives, medical outreaches, women empowerment programmes, and other social interventions. These initiatives reflect our belief that businesses should create shared value, not just shareholder value.

Beyond providing shopping destinations, what role do you believe organised retail plays in national development?

Organised retail plays a far more strategic role than many people appreciate.

It provides a reliable route to market for manufacturers, supports agriculture by creating demand for local produce, encourages formalisation of businesses, improves food safety standards, and contributes significantly to government revenues through taxation.

It also raises consumer expectations. Once people experience consistent quality, transparency, and professionalism, those expectations spread across the wider economy. Retail, therefore, becomes an engine for productivity, investment, and national competitiveness.

Marketsquare has become one of Nigeria’s largest indigenous supermarket chains. What does this achievement mean personally and institutionally?

Personally, it is deeply humbling. No entrepreneur builds a business of this scale alone. Every achievement reflects the commitment of thousands of employees, the confidence of our customers, and the support of numerous business partners.

Institutionally, it sends a powerful message about Nigerian enterprise. It demonstrates that indigenous companies can build nationally recognised brands that create employment, operate at scale and compete successfully over the long term.

I hope our story encourages more entrepreneurs to pursue ambitious ideas that contribute meaningfully to national development.

Marketsquare has consistently emphasised partnerships with Nigerian suppliers. Why is supporting local enterprise important to your growth strategy?

A successful retailer cannot thrive in isolation. The stronger Nigerian manufacturers become, the stronger our shelves become. The stronger Nigerian farmers become, the stronger our fresh produce offering becomes.

Supporting local suppliers, therefore, makes economic sense while also strengthening national competitiveness. We view supplier relationships as partnerships built on shared growth rather than simple commercial transactions.

Corporate citizenship has become increasingly important. How is Marketsquare contributing to the communities where it operates?

Community engagement is fundamental to our identity. Our stores are not isolated commercial centres; they are part of local communities.

That is why we continue to support education initiatives, healthcare programmes, women empowerment, youth development, and other community-based interventions wherever we operate. We also believe that creating safe, clean shopping environments is itself a contribution to community wellbeing.

Leadership often involves navigating uncertainty. What has been your greatest leadership lesson over the past decade?

Never allow circumstances to determine your vision. Markets change. Economic conditions fluctuate. Competition evolves. But leadership requires clarity of purpose. If you remain committed to your mission while remaining flexible in execution, you can navigate almost any challenge.

What values continue to guide Marketsquare’s leadership philosophy?

Integrity. Respect for people. Continuous improvement. Professionalism. Teamwork. And above all, an unwavering commitment to our customers. These values have shaped every important decision we have made over the past decade and remain the foundation for our future growth.

How would you like Marketsquare to be remembered when people reflect on the evolution of modern retail in Nigeria?

I hope people will say that Marketsquare helped redefine what Nigerian retail could become. Not because we were the biggest, but because we raised standards. Because we created opportunities. Because we invested in people. And because we proved that indigenous businesses can build institutions that endure.

What message would you like to share with Nigerian entrepreneurs?

Nigeria still offers extraordinary opportunities for those prepared to solve real problems.

Do not be discouraged by today’s challenges. Focus on creating value. Build strong teams. Think long term.

If your purpose is clear and your execution is disciplined, success becomes a matter of persistence rather than luck.

Vanguard News

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