The Nation Newspaper

Tag: Unilever Nigeria Plc

  • Firm restates commitment to road safety

    Firm restates commitment to road safety

    Unilever Nigeria Plc has wrapped up its fifth Transporters’ Safety Week: “No Rush! Na Safety Sure Pass”. The week-long event, at the company’s Mega Distribution Centre (MDC) in Agbara, reaffirmed Unilever’s commitment to safety, operational excellence, and well-being of its logistics partners. 

    Unilever leaders, key transporters, and drivers gathered to celebrate achievements and promote a culture of safety across the supply chain.

    The safety week included hands-on training covering defensive driving, cargo security, and accident prevention, facilitated by Federal Road Safety Corps and Nigerian Institute for Industrial Security.

    Drivers also received free medical screenings, ensuring they remain fit and equipped for safe operations.

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    Managing Director, Tobi Adeniyi, highlighted the responsibility of everyone involved in maintaining a transport network without fatalities.

    He congratulated those recognised and stressed Unilever’s zero-tolerance policy for road accidents. Logistics Manager, Ayokunle Ajijola added: “Safety and quality are priorities at Unilever. This year was accident-free, highlighting the positive impact of our programme on drivers. Now, in its fifth year, the initiative reaffirms our commitment to these standards and our transporter partnerships.” 

    A standout moment was the awards, where Mr. Jimoh Kazeem of Oritsetimeyin Logistics Limited received Best Performing Driver (Pan Nigeria), African Truckers Limited was named Most Security and Safety-Compliant Transporter, and Kabiru Sani of LORI Systems Technology was honoured for Integrity.

    Unilever’s Transporters’ Safety Week is as an initiative to advance road safety, improve operational efficiency, and reward the company’s logistics partners, enhancing Nigeria’s logistics industry.

  • Unilever appoints executive director

    Unilever appoints executive director

    The board of directors of Unilever Nigeria Plc has appointed Mr. Uchenna Nwakanma as an Executive Director of the company with effect from November 13, 2025.

    This was contained in a statement by company secretary, Peter Dada.

    It noted that Nwakanma is an accomplished research and development (R&D) business leader with over 20 years of experience driving innovation, product excellence, and strategic growth across Africa’s fast-moving consumer goods industry.

    “His expertise spans across Home Care, Personal Care, Baby Care, Pesticides, Lavatory Care, and Over-the-Counter Pharmaceuticals, with a consistent track record of leading cross-functional teams to deliver high-impact innovations that balance technical rigor, consumer insight, and regulatory compliance.

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    “Prior to this role, he was Head of R&D at PZ Cussons and Reckitt Benkiser , at various times, where he led the end-to-end innovation pipeline and capability development programs that strengthened the company’s footprint and competitiveness across Africa.

    “A strong advocate for sustainable manufacturing and local value creation, Nwakanma has worked closely with key industry bodies such as SON (Standard Organization of Nigeria as Technical Review Member of standards and the Manufacturers Association of Nigeria (MAN) to champion initiatives that promote local sourcing, quality excellence, and talent development in Nigeria’s manufacturing ecosystem.

    “He has contributed his expertise in different Forum across Africa Cosmetic bodies/Associations, Medical Association and the Federal Ministry of Science, Nigeria as public Speaker on topic bothering Innovation as a panacea for country development,” the statement said.

  • Unilever records N98.1b turnover, declares dividend

    Unilever records N98.1b turnover, declares dividend

    Unilever Nigeria Plc has recorded a turnover of N98.1 billion during the six-month period that ended June 30, 2025, representing a 54 per cent increase from N63.9 billion it made in the corresponding period of last year.

    Its operating profit hit N18.8 billion, from N3.5 billion in the same period last year, reflecting a 444 per cent increase with net profit at N14.4 billion, while last year’s was N4.4 billion, a 225 per cent improvement.

    Expectedly, the company’s board has announced an Interim Dividend of N0.50 per 50 kobo ordinary share, subject to applicable withholding tax and would be paid to shareholders.

    The total interim dividend payable amounts to N2.87 billion. This is the first time in over two decades that the company has declared an interim dividend, underscoring its strong financial position and renewed growth momentum.

    These results mark a continuation of Unilever Nigeria’s upward trajectory over the past few quarters, underpinned by the company’s strategic focus on operational excellence, brand superiority, and market agility.

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    Justifying the results, Managing Director, Tobi Adeniyi, said: “Our second quarter and cumulative half-year performance reflect the strength of our foundations and the disciplined execution of our growth Action Plan framework. By staying focused on our core categories and power brands, we are delivering consistent value to our consumers and stakeholders. This performance is a testament to the resilience of our workforce, the strength of our partnerships, and our belief in the potential of Nigeria.”

    He added, “We are committed to ensuring our brands remain superior through continued investment, accelerating our route-to-market capabilities, and driving innovative cost optimisation initiatives across our operations. We will continue to invest in capacity expansion to ensure we are well positioned to meet the evolving needs of our consumers.

    “As one of Nigeria’s longest-serving manufacturing companies, we remain deeply committed to enriching lives and contributing meaningfully to Nigeria’s growth story. We are here for the long term, building a future where our brands continue to brighten everyday life for all Nigerians.”

  • Unilever Nigeria appoints Sodipe Executive Director

    Unilever Nigeria appoints Sodipe Executive Director

    Unilever Nigeria Plc has appointed Mr Ibrahim Sodipe as an Executive Director.

    The board of the company stated that Sodipe has over 13 years of varied experience across financial reporting, financial controls, supply chain finance, forecast  and planning, commercial finance and global audit.

    “Within the last 5 years, he has served as the Financial Controller for Unilever Maghreb (Morocco, Algeria and Tunisia), Commercial Finance Business Partner for West Africa and recently seconded to Unilever Ethiopia as Head of Finance.”

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     “Ibrahim has been pivotal in driving business profitability and has helped enshrined this winning mentality in the business. In time past, he has also demonstrated transformational capabilities in turning around business process across West and North Africa.

     “As a member of Unilever Investor Board (East and West Africa), he helps to shape business strategy as well as portfolio expansion.

     “He is very passionate about serving the consumer needs with the best brands while driving profitable business growth underpinned with strong controls and talent development,” the board stated.

    The appointment, which took effect on July 1, 2025.

    Prior to joining Unilever, Sodipe worked with Afrinvest (West Africa) Limited and SIAO.

    Sodipe is a graduate of Industrial Relations and Personnel Management (B.Sc.) from University of Lagos and a member of the Association of Chartered Certified Accountants (ACCA).

  • Shareholders hail Unilever Nigeria’s sustained revenue growth

    Shareholders hail Unilever Nigeria’s sustained revenue growth

    Unilever Nigeria Plc has declared a dividend of N7,181,256,771.25 in the year ended 2024.

    This follows an impressive growth of N149.5 billion in 2024, which is 44 per cent topline growth compared to N103.9 billion turnover in the corresponding period in 2023.

    At its 100th Annual General Meeting (AGM), shareholders approved the dividend at 1.25 kobo per share, a 66 per cent increase from the 75 kobo declared in 2023.

    Shareholders hailed this increase and reaffirmed their belief in the leadership of the company to grow the business.

    The result for the total business shows a net profit of N15.1 billion for the period ended December 31, 2024 compared to a net profit for the corresponding period in 2023 of N8.4 billion, which is 79 per cent improvement in the current year.

    Speaking at the AGM, Chairman, Mr. Bolaji Balogun, applauded shareholders for their support, despite the volatility of the operating environment in the preceding year. 

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    He affirmed that the board and management is committed to advancing the company’s strategic growth agenda and navigating prevailing and emergent challenges, as they steer the organisation toward success and accomplishments.

    “Our resolve is to take strategic decisions to improve our operational efficiencies to meet the needs of Nigerians through our brands, people, and operations,” he said.

    In similar vein, Managing Director, Tobi Adeniyi said: “We are pleased with our growth trajectory, which rides on operational efficiency, cost optimisation, purposeful brands and increasing market share in key categories. We are committed to building relationships with our partners and growing our business to enhance our socioeconomic impact.”

    The AGM described as one of the best yet for the shareholders, saw many of them commending the consistent performance of the business in the last three years and the appointment of a Nigerian Managing Director after a long time.

     President, Shareholders Solidarity Association of Nigeria, Chief Timothy Adesiyan, said: “I am grateful and happy to attend the 100th Annual General Meeting of Unilever Nigeria PLC. The performance of the business has been very good and improving in the last three years. This is reflected in the increased dividends of N1.25 kobo being paid to us the shareholders. Above all, I am proud and happy that the Company listened to us and have now appointed a Nigerian as the Managing Director.

    ”As the longest serving manufacturing company in Nigeria at over a hundred years, Unilever Nigeria is committed to ensuring continuous investment in Nigeria through its brands and operations. Unilever Nigeria is here to stay for the long haul.”

  • CBN tasks investors on job, wealth creation

    CBN tasks investors on job, wealth creation

    The Governor of Central Bank of Nigeria (CBN), Mr Godwin Emefiele, has urged the private sector to support the Federal Government’s efforts at increating jobs and stimulating growth of the Nigerian economy.

    The CBN’s Acting Director, Corporate Communications, Mr Isaac Okorafor, in a statement on Wednesday in Abuja, said that Emefiele made the call at the Blueband Factory launch organised by the Unilever in Agbara, Ogun.

    Emefiele also pledged the CBN’s continued support for companies committed to the objective of job-creation.

    He said that there were many Nigerian youths whose potential could be harnessed to strengthen the industrial base of the country.

    The CBN governor recalled the practice in time past when companies tested and offered jobs to the brightest among fresh graduates of different disciplines before they proceeded for their national youth service.

    He said that a vast number of Nigerian youths was hardworking and willing to contribute their quota to the development of the country.

    The CBN governor also commended the management of Unilever Nigeria Plc for heeding the bank’s call to return to Nigeria and build a world class plant after the foreign exchange restrictions on some 41 items, including margarine.

    Emefiele said the policies of the apex bank and its aggressive intervention in the inter-bank foreign exchange market management had ensured transparency in the foreign exchange market.

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    With a population estimated at about 180 million people, the CBN governor said Nigeria was a ready market for investors and was indeed ready and open for business.

    He, therefore, reiterated his call to investors to take advantage of the opportunities in Nigeria by bringing more investments  into the country.

    Emefiele, however, cautioned that Nigeria, with the population growing at an average of three per cent per annum, had to focus on growth and prosperity if it would transform its population into assets.

    “We must plan to feed our growing population so it does not become a disadvantage,” he said.

    Earlier, the Executive Vice President of Unilever Ghana and Nigeria, Mr Yaw Nsarkoh, lauded the CBN for supporting the company to achieve its goal of setting up the plant in Nigeria and boosting capacity in Africa.

    While urging investors to disregard negative stories about Nigeria, Nsarkoh noted that businesses must be part of the solution to thriving communities.

    According to Okorafor, the high point of the event was an inspection of the new Blueband factory by the CBN governor and other guests.

    NAN

  • Unilever Nigeria declares N378 million dividend at 92nd AGM

    Unilever Nigeria declares N378 million dividend at 92nd AGM

    • Rewards shareholders with a dividend payout of 10k per share

    Unilever Nigeria Plc., has declared a dividend of N378 million following the approval of the company’s shareholders at the 92nd Annual General Meeting of the Company held in Lagos on Thursday, May 11 in Lagos. The dividend declared amidst a challenging operating year and environment translates to a dividend payout of 10 kobo gross per share to the shareholders.

    In the year ended 2016, the Company increased its revenue by 17.8 percent from N59 billion recorded in 2015 to N69 billion as Profit After Tax (PAT) for the year ended 31st December 2016 increased significantly by 157% to N3.07bn from N1.19bn reported for the year ended 31st December 2015.

    Addressing shareholders at the 92nd AGM, the Chairman of the Board of Directors, His Majesty Nnaemeka Achebe, the Obi of Onitsha said that Unilever Nigeria Plc. has once again demonstrated business resilience under very difficult circumstances. He asserted that the company’s performance shows its commitment to grant shareholders returns on their investments.

    According to him, “The Company’s performance for the year ended 31 December 2016 shows sustained growth and resilience even under depressed economic conditions. Although Unilever Nigeria has not been insulated from the tough economic environment, we have remained focused on our short and long-term growth ambitions with a strong emphasis on operational intensity, cost efficiencies, growing market share across key categories as well as reinvesting behind our iconic brands”.

    Speaking further, Achebe said: “even in this period of economic downturn, Unilever Plc. is dogged about ensuring sustained and steady growth in the company’s operations to achieve improved returns on investments. We are more resolute than ever to continue to forge ahead despite the business operating environment.

    “As a company, we will continue to appreciate the resilience and unwavering commitment of all our stakeholders; shareholders, dynamic employees, loyal consumers, dedicated suppliers and other business partners for their unflinching support through these challenging times. We look forward to a better 2017 for our brands and our great company which you are all an important part of.

    “In line with the company’s priority, Unilever remains committed to driving returns on investments to shareholders. However, our company recognises that these are unusual times and prudence demands that we should continue to plough back into the business in the short term in order to secure a sustainable future.”

    Unilever is a company that cares about humanity and value the environment, through our business practices, we continually demonstrate a deep commitment to delivering products that meet the needs and aspirations of our consumers and align with the global goals of making our planet safe, beautiful and sustainable, he concluded.

  • Unilever quarter one results show impressive performance

    Unilever quarter one results show impressive performance

    Unilever Nigeria Plc results for the quarter ended 31st March 2017 shows continued strong growth.

    The company posted a turnover and Profit after Tax of N22.2billion and N1.6 billion respectively with improvements across board.

    The growth in turnover has a strong volume component with a 32% growth in turnover from N16.8 billion in Q1 2016 to N22.2 billion in Q1 2017, while the operating costs increased by 31% to N19.4billion for the period ended March 2017 from N14.9 billion recorded in the corresponding period in 2016.

    Unilever remains a consumer and customer centric business, as it continues to meet varying needs of Nigerians.

    According to Unilever Nigeria, “the company will not relent in its efforts to satisfy its consumers. As a company, we will continue to deploy best practice marketing strategies, with a high level of operational intensity in our continued investment in commercial and factory operations to expand our capacity and grow our market share.”

  • How Lagos reflated economy to overcome recession – Ambode

    How Lagos reflated economy to overcome recession – Ambode

    Lagos State Governor, Mr. Akinwunmi Ambode on Wednesday said that his administration took decisive steps, deployed workable strategies and judiciously utilised resources to cushion the effects of the economic recession witnessed across the nation in 2016.

    Ambode, who spoke at Lagos House in Ikeja when he received the management team of Unilever Nigeria plc led by its Managing Director, Mr Yaw Nsakor, explained that the State Government reflated the economy by embarking on more capital projects and also created a conducive environment for small and medium scale businesses to thrive during the period of recession.

    The Governor said: “We are aware that as at the time we are speaking the situation was deplorable and inflow from the Federal Government to the states were just not there with internally generated revenue dropping and a lot of companies were plugging down and taking people out of employment. Our government also applied judicious use of resources with our ability to appropriate as to where needs are”.

    “Technically our IGR was going down and nose diving and nothing was coming in. The only thing the government did was to reflate the economy and push more capital expenditure out and allow those at the fringe of low income level to earn something on a daily basis. That is what we have been doing.

    “That’s why you see people asking whether there was a recession in Lagos and where are they are getting money to do all those construction? You need to apply judicious use of resources and be able to appropriate as to where the needs are. Lagos stands on a threshold of history as the biggest economy in the country right now. The State has been able to create some level of happiness for the market to be able to buy products from Unilever and other companies doing business in the State”.

    Governor Ambode who also received the President and Chairman of Council, Prince Dapo Adelegan and Executives of the Nigerian-British Chamber of Commerce also on a courtesy visit said his administration among other things would continue to focus more on building the GDP of the State to serve as a role model to other states in the country to boost the economy.

    He said: “Like you mentioned this a year of celebration, you know Lagos is marking 50th anniversary but what matters is the future of Lagos in another 50 years. That’s something we should look at from your perspective and the perspective on investment; we should focus on how to grow the GDP of the state and create a vision where some years later we will be able to comment that our partnership today established an example of what a typical state should be for the rest of the country in terms of development and economy.

    “In the last two years we have tried as much as possible to increase our indices on the ease of doing businesses and make sure that we address the challenge of security. We have been working on that aspect and we started seeing results. Before you came in, I received the MD of Unilever and I was happy to know that in the last twelve month the numbers that they have got in terms of growth and profit has improved even in this present economy recession where people are not suppose to be buying.

    “We have created some infrastructure that have some convergence with their marketing potential. The city is safe, there is a 24/7 economy and the little money that goes around from our own capital expenditure, people are able to buy those basic things and it turns out to be a greater number that grows their GDP.

    “We are very excited about the things we have done in the last two years, it has inspired us also to continue to partner with structured platforms like yours so that we can take Nigeria out of the recession because the bottom line is we should continually reflate the economy in a way that everybody feels so comfortable to spend that little disposable income in their hands without actually feeling the pain, we are tired of suicide attempt”.

    Governor Ambode, who reiterated the government’s partnership with the NBCC, applauded their contribution to the growth and development of the state and the Nigeria economy also disclosed that investments in the state will no longer be centralized like before.

    Earlier, the Managing Director of Unilever, Mr. Yaw Nsarkoh said they were at the Lagos House to thank the Governor on the State’s 50 years anniversary as well as the developmental strides his administration has recorded since he assumed office.

    Nsarkoh specifically said his company recorded immense success in the previous year owning to the friendly business climate in the State.

    “I will like to thank you very much because without any doubt, you contributed immensely to our growth. Lagos is a big contributor to Unilever success story in 2016.  Without going further, let me congratulate all of you for the Golden Jubilee anniversary of the creation Lagos. Let me also commend Lagos for qualitative progress in public service, decongestion of roads, security, road rehabilitation, Light up Lagos etc,” he said.

     

  • Unilever 2016 results show sustained growth, resilience

    Unilever 2016 results show sustained growth, resilience

    Unilever Nigeria Plc. recently released its audited results for the year ended 31st December 2016 posting N69bn turnover. The Company recorded a significant leap in PAT from its 2015 position of N1.19bn to close the year with PAT of N3.07bn.

    The Company’s results for the year ended 31st December 2016 shows sustained growth and resilience even under depressed economic conditions. The result shows a 17.8% increase in turnover from N59bn in December 2015 to N69bn in December 2016. A significant portion of this growth is from volume increase.

    Cost of sales increased by 29.6% from N38bn for the period ended December 31 2015, to N49bn for the year ended December 31 2016, reflecting rising costs particularly raw material costs that are significantly exposed to foreign currency volatility. The cost of sales reflects an exchange revaluation loss of N1.7bn in 2016.  Marketing and administrative expenses reduced by 16% from N13.1bn for year ended December 31 2015, to N11.6bn for the year ended December 31 2016, while other income grew by 60% to N124m from N77.5m in 2015   

    Net finance costs reduced by 40% to N1.7bn for the year ended December 31 2016, compared to N2.8bn reported for the corresponding period in 2015.  The results show that net finance cost as a function of operating profit improved significantly to 29% (2015: 62%), reflecting improvements in cash management.

    Profit after tax for the year ended 31st December 2016 increased significantly by 157% to N3.07bn from N1.19bn reported for the year ended 31st December 2015.

    In a statement released by the company, Unilever Nigeria assured shareholders of its efforts to ensure a sustained and steady growth in the company’s operations to achieve better returns on their investments.

    “Although Unilever Nigeria has not been insulated from the tough economic environment, we have remained focused on our short and long-term growth ambitions with a clear emphasis on operational intensity, cost efficiencies and growing market share across key categories”.