Japa! Unilever Halts Production, Sale Of Omo, Lux In Nigeria

Big news on the consumer front! Unilever Nigeria has made it official—they’ve bid adieu to the production and sale of their home care and skin cleansing products, waving goodbye to beloved brands like Omo, Sunlight, and Lux.

The decision to bow out of the production of Omo in Nigeria was actually flagged back on March 17, 2023, and it’s now all come to fruition with the halt in production and sales kicking in last December, as detailed in Unilever Nigeria’s earnings report. What’s intriguing is that the factory, once bustling with the making of these products, is now under new management, leased out to a third party.

Unilever Nigeria sealed the deal with a 10-year leasing agreement, involving annual rental payments. A significant move, especially considering this leasing arrangement followed their exit from the home care and skin cleansing segments.

But fret not, loyal customers of Unilever Nigeria as despite the stop of production of Omo, the company is not closing shop; just shifting their focus. The company will now be channeling its efforts into its remaining product lines, namely foods, beauty and wellbeing, and personal care products.

However, it seems this strategic move wasn’t without its challenges. Unilever Nigeria witnessed a sharp decline in revenue, a whopping 45.1 percent year-on-year drop, clocking in at N16.48 billion in 2023, down from N23.92 billion the previous year. As if that wasn’t enough, losses also took a leap, hitting N3.72 billion compared to the previous year’s N1.49 billion.

And to add a twist to the tale, Unilever Nigeria has brought in a new captain to steer the ship. Meet Mr. Michael Ikpoki, the interim Board Chairman, stepping into the role until a permanent chairman is appointed. He takes over from His Majesty, Nnaemeka A. Achebe, Obi of Onitsha, who gracefully retired from the Board on December 31, 2023. Exciting times ahead for Unilever Nigeria!

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