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Tag: Unilever Nigeria

  • Unilever Nigeria records revenue growth, N22bn PAT

    Unilever Nigeria records revenue growth, N22bn PAT

    Despite the economic headwinds, things are looking up for the one of the fast moving consumer goods giant Unilever Nigeria Plc, as indicated in its recently released interim unaudited financial results.

    According to the results for the nine months period ended September 30, 2025, the company reported a turnover of N155 billion in the period under review which represents 50% increase from N104 billion turnover recorded in the same period of 2024.

    Besides, its gross profit rose 49% to N64 billion, while Net Profit doubled to N22 billion, up from N11 billion in the corresponding period in 2024.

    Speaking on the results, the Managing Director, Tobi Adeniyi, said, “Our Q3 performance reflects the strength of our focus on our power brands, strategic product mix optimisation, and disciplined cost management. We are committed to sustaining brand investment, ensuring supply chain resilience, and delivering volume-led growth with our robust portfolio.”

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    Pressed further, Mr. Adeniyi further highlighted Unilever Nigeria’s long-standing commitment towards building and expanding its growth trajectory and plans.

    “As a cornerstone of Nigerian manufacturing for over 100 years, we continue to invest locally in expanding our operations, build equitable partnerships across our value chain, and nurturing deep trust with our Nigerian consumers. Our purpose continues to be built on brightening everyday life for Nigerians,” Adeniyi stressed.

  • IWD: Unilever seeks gender inclusion

    IWD: Unilever seeks gender inclusion

    Unilever Nigeria has hosted the 2025 International Women’s Day celebration at its Oregun, Lagos and Agbara, Ogun states sites.

    The event brought together professionals and advocates to discuss the importance of diverse and inclusive leadership.

    It reinforced the firm’s commitment to fostering a culture where women thrive and contribute  across all sectors.

     Managing Director of Unilever Nigeria, Tobi Adeniyi, reaffirmed the company’s dedication to championing gender equality and creating an inclusive workplace.

    He stated: “At Unilever, we walk the talk when it comes to inclusion and equity. There is no doubt that having women in leadership and key roles leads to a healthier and more productive workplace, therefore I am committed to taking necessary action that helps our organization continually shape an ecosystem where everyone has the opportunity to thrive.”

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    During the panel discussion themed: “Accelerating Action Through Empowering Experiences,” the National Finance Director of Unilever Nigeria, Folake Ogundipe, emphasised the need for businesses to actively champion diversity and inclusion and applauded Unilever’s dedication to policies that ensure equal opportunities and actions.

    Group CFO of Access Bank PLC, Ibukun Oyejide, underscored the importance of financial independence and leadership development for women.

    She encouraged women to be proactive and daring in pursuing leadership opportunities, while never doubting their abilities and drawing inspiration and strength from deep rooted values and a sense of purpose.

    On the significance of storytelling in shaping narratives around gender inclusion, Nigerian producer and co-founder of Inkblot Productions, Zulumoke Oyibo, stressed the role of media in amplifying women’s voices.

     “Representation matters. The more we see diverse women in leadership, the more we normalize inclusion and inspire the next generation of women leaders,” she said.

    Adding a creative perspective, singer, songwriter, and actor, Waje Iruobe,  called for intentional support systems that enable women to excel across industries, stating that empowerment comes from creating opportunities to support each other.

    The panel concluded with a call to action, urging organizations to accelerate efforts in promoting gender equity through mentorship, policymaking, and an inclusive work environment.

  • Unilever Nigeria records 44% growth

    Unilever Nigeria records 44% growth

    Despite the economic headwinds which dogged the performance of other players in the fast moving goods consumer segment, Unilever Nigeria Plc made good in the year-end results which ended December 31, 2024.

    According to its unaudited interim report for the twelve months period, the company recorded turnover of N149.8 billion in the period under review, which represents 44 per cent topline growth compared to N103.9 billion turnover recorded in the corresponding period in 2023.

    The company recorded a gross profit of N55.7 billion for the period ended 31st December 2024 which is 75 per cent increase versus N31.9 billion reported for same period 2023.

    The result for the total business shows a net profit of N15.9 billion for the period ended 31st December 2024 compared to a net profit for the corresponding period in 2023 of N8.4bn which is 88% improvement in current year versus 2023.

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    Speaking on the results, the Managing Director, Tobi Adeniyi, said, “our year-on-year sustained growth trajectory is a testament to our commitment of serving consumers with our best brands to meet their daily needs of improved health and hygiene.

    “While we are pleased with our performance progress riding on the pillars of operational efficiency, cost optimisation, purposeful brands and increasing market share across key categories, we are committed to growing our business to enhance our socioeconomic impact in the country,” he added.

    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 makes case for transporters’ safety

    Unilever Nigeria makes case for transporters’ safety

    To reinforce its commitment to road safety and operational excellence, Unilever Nigeria Plchas concluded a two-day transporters safety week, with the theme: “Pressure Dey, No Panic – Safety First”.

    The company took the opportunity to reward some of its outstanding drivers.

    Held at Unilever Nigeria  facility in Agbara, the event brought together stakeholders from the logistics and supply chain sector to celebrate exceptional performance and foster a strong safety culture among drivers and transporters.

    The programme featured training sessions on defensive driving, cargo security and accident prevention, facilitated by Nigerian Institute of Industrial Security and Federal Road Safety Corps (FRSC).

    Drivers also underwent free medical screenings and consultations, ensuring they were equipped with the knowledge and tools to stay safe on the road.

    Besides, the drivers were also engaged with games that reinforced Unilever’s safety protocols in a relaxed and collaborative atmosphere.

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    Logistics Manager, Unilever Nigeria Plc, Ayokunle Ajijola, emphasised the company’s zero-tolerance approach to road fatalities.

    He said: “This year, we are proud to announce that there were no road fatalities across our transporter network. This milestone underscores the impact of our collaborative efforts with transporters in fostering a culture of safety and accountability.”

    One of the highlights of the event was the presentation of awards in outstanding performances in 2024. The Best Performing Driver award (Pan Nigeria) was presented to Sulaimon Mohammed, a driver from Oristetimeyin Logistics Limited, by the Customer Operations Excellence Manager WA, Bukola Olaiya. Sulaiman was celebrated as the Best Performing Driver (Pan Nigeria) for his exceptional safety compliance, punctuality, integrity and dedication to excellence.

  • Unilever Nigeria grows turnover by 41% in first half

    Unilever Nigeria grows turnover by 41% in first half

    Unilever Nigeria Plc recorded a turnover of N63.9 billion in first half of 2024, a 41 per cent growth compared to N45.3 billion recorded in the corresponding period in 2023.

    The company recorded a gross profit of N26.2 billion for the period ended 30th June 2024 which is 100 per cent increase on N13.1 billion reported for same period last year.

    The result for the total business shows a net profit of N4.4 billion for the period ended 30th June 2024, compared to a net profit for the corresponding period in 2023 of N2.8bn which is 61% increase versus 2023.

    Speaking on the results, the Managing Director, Tim Kleinebenne, said, “We are pleased with our commitment to stay in Nigeria as the longest serving manufacturing company in the country.

    As a company that has stayed over a centenary in Nigeria, we are not just here to stay, but we are very convinced that the opportunities in Nigeria are more than the challenges.

    “Our H1, 2024 unaudited results with a topline growth at 41%, is a testament that with our Growth Action Plan (GAP) we are committed to serving consumers with our best brands to meet their daily needs of improved health and hygiene.

    Unilever Nigeria is pleased with its performance progress riding on the pillars of operational efficiency, cost optimization, purposeful brands and increasing market share across key categories,” Kleinebenne, said.

    Expatiating, Kleinebenne stressed that as a centenary old company and the longest serving manufacturing company in Nigeria, Unilever Nigeria is committed to ensuring continuous socioeconomic impact and investment in Nigeria through its brands and operations.

    Unilever is one of the world’s leading suppliers of Beauty & Wellbeing, Personal Care, Home Care, Nutrition, and Ice Cream products, with sales in over 190 countries and products used by 3.4 billion people every day. Unilever Nigeria is a locally listed business that has been operating for 100 years selling brands such as Knorr, Royco, Vaseline, Pepsodent and Closeup.

    Fed Govt promises to address travel trade concerns (brief)

    The Federal Government, through the Ministry of Aviation and Aerospace Development, has promised to address all travel trade concerns and ensure stability in the aviation industry.

    This is contained in a statement signed by the Media Consultant to the National Association of Nigeria Travel Agents (NANTA), Mr Frank Meke, on Thursday in Lagos.

    According to the statement, the Aviation Minister, Mr Festus Keyamo (SAN), made the disclosure in Abuja, when NANTA officials went to discuss travel trade concerns with him.

    It said that Keyamo noted that there were various issues plaguing the industry, particularly the capacity of Nigerian airline operators to compete profitably and satisfy the demands of the Nigerian travelling public.

    It said that Keyamo’s mission was to restore the glory of the Nigerian aviation industry.

    “That is why I have embarked on visits to aircraft manufacturing companies to help our local investors acquire aircraft.

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    “We need to open up the market for dry leasing to Nigerian operators. Wet leasing is killing our capacity to grow the sector sustainably. It is my major concern to empower Nigerians.

    “We must work together to clean up the system. I must commend NANTA for the support during the most difficult periods in our industry.

    “We need you to continue to keep faith with us as we need all the help we can get to create jobs and empower our people,” the statement quoted Keyamo as saying.

    The statement also quoted the President of NANTA, Mr Olayinka Folami, as assuring Kayamo of NANTA’s support and collaboration.

    It quoted Folami as saying  that the minister deserved accolades from Nigerians and NANTA in particular.

    It said that Folami lauded the minister’s courage in cleaning up the sector and  requested for the minister’s intervention in  ensuring equity and fairness in Nigeria’s  travel trade market.

    “The market has shrunk by about 40 per cent in recent times due to unmitigated cross border trading by foreign merchants and their local collaborators.

    “We have no problem with global players in our market, but they should play fairly and stop encroachment of global fares with its attendant depressing effect on the Nigerian economy and Nigerian travellers.

    “Our market is eroded by this development and jobs threatened; so, we want the government to initiate policies to check these unethical practices,” the statement also quoted Folami as saying.

  • Unilever Nigeria donates relief materials to victims of Bodija incident

    Unilever Nigeria donates relief materials to victims of Bodija incident

    As part of efforts to make sustainable living commonplace, Unilever Nigeria has donated a range of its products to the Oyo State Government in connection to the incident in the Bodija area of Ibadan, the state capital.

    The donation included body creams, toothpaste, seasoning, and other health and hygiene products to support the State Government.

    The Head, Corporate Affairs and Sustainable Business, Unilever Nigeria, Mr. Godfrey Adejumoh, who led the team conveyed Unilever’s message of care and comfort to the State Government and offered its support through the product donations that will be useful to the people impacted by the incident.

     “We understand the immense discomfort caused by this event, and we are committed to complementing the state government’s efforts for immediate relief and support to those affected. Our thoughts are with them, and we extend our heartfelt message of care and comfort to them,” he said.

    Adejumoh, stressing the company’s role, added, “We are deeply connected to the communities where we operate and believe in standing by them always. We are confident that through collective efforts, Ibadan and the entire people of Oyo State will emerge stronger and better from this incident.”

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    The donation was well-received on behalf of the state government by the Head of the Emergency Medical Team and Special Adviser to the state Governor, Prof. Temitope Alonge. He expressed the state’s gratitude for the timely gesture.

    “We appreciate Unilever’s timely and much-needed support during this crucial period. The donation will go a long way in providing comfort to the affected individuals and families when they are finally resettled.”

    Also present at the donation were Adegboyega Adesanya, Regional Sales Manager, Unilever Nigeria; Afomre Ubogu, Corporate Communications Specialist, Unilever Nigeria; Mrs. Ojuola Busari, Admin Secretary, Oyo State Emergency Management Agency (OYSEMA); and Goodluck Ehis, CD Unilever Sustainable Living Plan Manager (South), among others.

    As the longest-serving manufacturing company in the country, Unilever Nigeria emphasises its commitment to making sustainable living commonplace through its brands and operations.

    The company believes in standing by the communities where it operates. Unilever Nigeria is here to continue investing in the country and creating opportunities for Nigerians.

  • Unilever Nigeria declares N2.87b dividend

    The Board of Directors of Unilever Nigeria Plc has recommended payment of N2.87 billion to shareholders as cash dividend for the 2017 business year.

    A breakdown of the dividend recommendation indicated that shareholders will receive a dividend per share of 50 kobo for every share held as at the close of business on Friday April 13, 2018. The dividend will become payable on Friday May 11, 2018.

    Key extracts of the audited report and accounts of Unilever Nigeria for the year ended December 31, 2017 showed impressive growths across key indicators. Turnover rose from N69.78 billion in 2016 to N90.77 billion in 2017. Operating profit doubled from N5.81 billion to N12.95 billion. Profit before tax rose by 172.7 per cent from N4.11 billion in 2016 to N11.21 billion in 2017. After taxes, net profit also leapt by 142.7 per cent to N7.45 billion in 2017 as against N3.07 billion in 2016. Earnings per share doubled from 81 kobo in 2016 to N1.78 in 2017.

    Unilever Plc, United Kingdom, the majority core investor in Unilever Nigeria, recently provided more than N35 billion in the new equity capital to the Nigerian subsidiary under a N59 billion new equity raising.

    Unilever Nigeria had floated a supplementary offer to raise N58.9 billion in new equity funds by selling 1.962 billion ordinary shares of 50 kobo each to existing shareholders at a price of N30 per share. The rights issue was pre-allotted to shareholders in the register of the company as at the close of business on June 28, 2017 on the basis of 14 new ordinary shares for every 27 ordinary shares held.

    Following the full subscription, a total of 1.96 billion ordinary shares of 50 kobo each were added to the outstanding shares in the name of Unilever Nigeria on the Daily Official List of the Nigerian Stock Exchange (NSE). With the new listing of 1.96 billion ordinary shares, the total issued and fully paid up shares of Unilever Nigeria has now increased from 3.78 billion ordinary shares to 5.745 billion ordinary shares of 50 kobo each.

     

  • Unilever charges Nigerians on oral hygiene

    Unilever charges Nigerians on oral hygiene

    Unilever Nigeria’s Pepsodent toothpaste has charged Nigerians to adopt good oral care practices by brushing twice daily to improve general health and quality of life.

    This was during the ministerial press briefing at the National Oral Health Week which started November 27 and ends today.

    Speaking at the event, the Regional Sales Manager for Middle Belt, David Ebah, reaffirmed Unilever’s commitment to improving oral healthcare among Nigerians. In 2016, Unilever signed a Memorandum of Understanding (MoU) with the Federal Ministry of Health to improve the oral health of children in Nigeria and educate them on the importance of brushing day and night via the Unilever Brush Day and Night Schools Programme.

    The Category Manager, Oral Care, Toluwaleke Salu stated that since 2014, through the Pepsodent Brush Day and Night Schools Programme, Unilever has directly educated over 3.5 million Nigerian children to imbibe the culture of brushing twice daily by using a fluoride toothpaste such as Pepsodent, in order to prevent oral diseases.

    “Unilever Brush Day & Night School Program is a 21 days behavioural change campaign aimed at educating children on the importance of adopting good oral care habits and maintaining good oral hygiene, and to prevent the causes of ill oral health that affect children’s ability to learn,” she added.

    Minister of Health, Professor Isaac Folorunsho Adewole, represented by the Head, Hospital Services department, Wapada Balami noted that great progress has been made in reducing the extent and severity of common oral diseases.

    “Unilever has been of great support to the Federal Ministry of Health especially during the National Oral Health Week over the years and we are immensely grateful for this,” he added.

    Unilever was recognised and awarded as ‘outstanding oral health development partner of the year’ during the event.

  • Unilever Nigeria raises N59b from foreign investors, others

    Unilever Plc, United Kingdom, the majority core investor in Unilever Nigeria, provided more than N35 billion in the new equity capital to Unilever Nigeria Plc as the Nigerian subsidiary successfully raised N59 billion new equity funds to bolster its operations.

    Listing document at the weekend showed that Unilever Nigeria recorded full subscription to its recent rights issue, raising N58.9 billion from both the majority core investors and other minority shareholders.

    Unilever Nigeria had floated a supplementary offer to raise N58.9 billion in new equity funds by selling 1.962 billion ordinary shares of 50 kobo each to existing shareholders at a price of N30 per share. The rights issue was pre-allotted to shareholders in the register of the company as at the close of business on June 28, 2017 on the basis of 14 new ordinary shares for every 27 ordinary shares held.

    Following the full subscription, a total of 1.96 billion ordinary shares of 50 kobo each were added to the outstanding shares in the name of Unilever Nigeria on the Daily Official List of the Nigerian Stock Exchange (NSE). With the new listing of 1.96 billion ordinary shares, the total issued and fully paid up shares of Unilever Nigeria has now increased from 3.78 billion ordinary shares to 5.745 billion ordinary shares of 50 kobo each.

    Prior to the rights issue, Unilever UK held 60.06 per cent majority equity stake in Unilever Nigeria through its Unilever Overseas Holdings BV. Stanbic Nominees Nigeria Limited held the second largest equity stake of 10.43 per cent in Unilever Nigeria.

    Unilever UK, which had shown sustained interest in increasing its majority shareholding in the Nigerian subsidiary, fully picked up its rights. It had earlier mopped up additional shares through open market purchases at the Exchange to increase its majority stake by 1.53 per cent from 58.53 per cent in 2015 to 60.06 per cent in 2016. It had also made open market purchases in 2015.

    Unilever UK had earlier indicated its intention to acquire up to 75 per cent controlling equity stake in the Nigerian subsidiary. It had in first half of 2015 sought to increase its majority equity stake in the Nigerian subsidiary from 50 per cent to 75 per cent, citing long-term strategic importance of Unilever Nigeria to its global business.

    In a transaction initially valued at about N43 billion or £144.5 million, Unilever Overseas Holdings sought to increase its equity stake in the Nigerian company from 50.04 per cent up to a maximum of 75 per cent by buying additional shares from minority shareholders. The tender offer sought to acquire about 942.42 million ordinary shares in Unilever Nigeria at a price of N45.50 per share in cash.

  • Unilever Nigeria reduces share sale figures

    Unilever Nigeria reduces share sale figures

    Unilever Nigeria has scaled back the amount it planned to raise from shareholders via a rights issue to N1.96 billion ($5.39 million).

    The household products maker, majority owned by Unilever, had planned to raise N63 billion through a rights issue and said in April it would ask shareholders to approve the share sale.

    The company said yesterday it would issue 14 new shares to existing shareholders for every 27 held at N30 each, a 25.2 per cent discount to yesterday’s market price of N40.13.

    It said the rights offer, which opened on Monday, would close on Sept. 8.

    Unilever Nigeria was not immediately available to comment.

    In July, the company reported a 238 percent rise in half-year pretax profit to 5.04 billion naira.

    Unilever Nigeria shares, which have gained 13.3 percent so far this year, rose 0.86 per cent on the Lagos bourse yesterday. The stock fell 19.1 per cent last year.

    Nigeria, Africa’s top oil producer, last year entered its first recession in 25 years, brought on by low oil prices, which have slashed government revenues and crippled dollar supplies in the country.