Unilever Nigeria Stops Omo Production And Sales, Among Other Products

According to Unilever Nigeria Plc, it is no longer making or selling products for skin care and cleaning at home. This comes around a year and a half after it declared its intention to leave both markets.

This was revealed by the corporation in its unaudited interim financial accounts for the year that ended on December 31, 2023, which were sent over the weekend to the Nigerian Exchange Limited (NGX).

The business revealed in a different statement that it has named an acting chairman of the board for Unilever Nigeria Plc.

This was stated in a letter that Mrs. Afolasade Olowe, Senior Counsel and Company Secretary, Unilever Nigeria, submitted to the NGX and that Vanguard was able to get.

It said: “Mr Michael Ikpoki has been appointed as interim chairman of the Board of Unilever Nigeria Plc, pending the appointment of the substantive chairman of the Board.

“Ikpoki replaces His Majesty, Nnaemeka A. Achebe, Obi of Onitsha, who retired from the Board effective 31st December 2023.”

Unilever Production

Meanwhile, recall that on March 17, 2023, Unilever Nigeria revealed its intention to discontinue production of its homecare and skin-cleansing brands. These include Omo, Sunlight, and Lux.

In a statement in the company’s earnings report released weekend, Unilever Nigeria said production and sales “ceased in December 2023”.

Unilever said: “The factory used to produce the home care and skin cleansing products has been leased out to a third party.

“After the company’s exit from the Home Care and Skin Cleansing categories, the factory buildings have been leased to a third party. This is for 10 years, with annual rental payments.

“Unilever Nigeria’s exit from the homecare and skin-cleansing markets leaves the company with just the foods, beauty and wellbeing, as well as personal care products.”

Before Unilever Nigeria’s withdrawal from both markets, the business revealed a drop in earnings.

In 2023, revenue dropped to N16,48 billion, a 45.1% annual decline. This is from the N23,92 billion that was made in 2022—January through December.

Additionally, the loss grew to N3.72 billion last year from N1.49 billion the year before.