Weeks after Tinubu's election, Unilever Nigeria has announced its exit from the home care and skin cleansing markets in Nigeria to find a more sustainable and profitable business model, and people are wondering if they want to explore roasted corn market.

Nigerians may soon bid goodbye to popular brands such as Sunlight, Omo, Closeup, LifeBuoy, Vaseline, Dove, or Knorr as Unilever Nigeria is exiting home care and skin cleansing, to simply remain profitable. In 2021, these products earned the company, which has operated in the country for around a century, more than half its revenues.

This information was made known by Unilever Nigeria’s Secretary, Abidemi Ademola, who made the revelation in a corporate notice to the Nigerian Exchange Limited and signed.

QZ reported that cash crunch and an expensive dollar are squeezing Unilever out of Nigeria. Unilever has enjoyed success in Nigeria for a whole century, but things are now getting tough.

Unilever is cutting down production in Nigeria. The company has cited the country’s worsening economic condition for its move, which could now add to the woes of Africa’s biggest economy.

Established in 1923, Unilever Nigeria has, for decades, been banking on the west African nation’s young and vibrant population. However, things are not looking good for them now.

President-elect Bola Tinubu campaigned in February on promise of stabilizing the economy. Now, Unilever’s exit from the two production lines implies job losses—755 people worked for it in fiscal 2021—compounding Nigeria’s employment crisis.

Read on
https://dailypostngr.com/2023/03/heres-why-unilever-nigeria-is-exiting-from-nigerias-home-care-and-skin-cleansing-markets/

Na wa.....

.

Dey play

The affected workers will be recruited into the Army, what they will eat will not be a problem if the court allows Tinubu to be in charge!

Tinubu is responsible for your low sperm count. Ode buruku.

Lol how doz derr exit correlate with the President elect....



You people and always looking for ways to sell your news....

We all know most of the big companies av been relocating to Ghana due to electricity...

Last year Guinness or so left the country shey na Tinubu cause that one...

Even ShopRite av left I guess that's Tinubu also ..

Alot of company don leave the country under this present regime so how can you accuse who dem Neva even sworn in as the cause of one company failure...

What is our sin in this country......God I begi oooo

They should not go please,Tinubu will never rule Nigeria.

Legacy of apc, buhari and the fellow that made him president.
A whole countrys economy destroyed.

They can’t make a damn payment for a roasted corn….or fix the economy.
- Jagaban!!

See how APC and Tinubu have killed everything single industry left of Nigeria.

I know one man that was a staff there, doing well financially. What is going to happen to him now?

Another unemployment pipple in our mid again! Only GOD can save us 4 dis country! we fully ve it wrong!

Neverslumber:
I know one man that was a staff there, doing well financially. What is going to happen to him now?

It will be wise to start exploring other opportunities elsewhere. Although, I believe that some of them may be transferred to other departments when they figure out which way forward. For now, the company is in bad shape unfortunately. No profit like before

they have seen there is no light with the continuation of APC lead federal govt.

Open market for new investors doyin and other Nigeria company should step up

Make dem go togo or Cameroon na

Neverslumber:
I know one man that was a staff there, doing well financially. What is going to happen to him now?

Tinubu will recruit him in the army, feed himcassava and agbado

Tinubu won quench bokos and bandits by employing 50million youths into the army... I pity this man oo... he won turn Nigeria to North Korea where be say everyone na soldiers dem be.

This is the legacy of the apc.

And some brilliant people gave them another 4years.

You can't make this shitt up.

Neverslumber:
I know one man that was a staff there, doing well financially. What is going to happen to him now?

Some will get other places in Nigeria.
The ones who are very solid amongst them would get great places outside Nigeria
Some would eventually go into business or consulting

Very hard to operate a successful company in naija.



No fuel
No light
No security
No good road etc

Sundaland:
Weeks after Tinubu's election, Unilever Nigeria has announced its exit from the home care and skin cleansing markets in Nigeria to find a more sustainable and profitable business model, and people are wondering if they want to explore roasted corn market.

Nigerians may soon bid goodbye to popular brands such as Sunlight, Omo, Closeup, LifeBuoy, Vaseline, Dove, or Knorr as Unilever Nigeria is exiting home care and skin cleansing, to simply remain profitable. In 2021, these products earned the company, which has operated in the country for around a century, more than half its revenues.

This information was made known by Unilever Nigeria’s Secretary, Abidemi Ademola, who made the revelation in a corporate notice to the Nigerian Exchange Limited and signed.

QZ reported that cash crunch and an expensive dollar are squeezing Unilever out of Nigeria. Unilever has enjoyed success in Nigeria for a whole century, but things are now getting tough.

Unilever is cutting down production in Nigeria. The company has cited the country’s worsening economic condition for its move, which could now add to the woes of Africa’s biggest economy.

Established in 1923, Unilever Nigeria has, for decades, been banking on the west African nation’s young and vibrant population. However, things are not looking good for them now.

President-elect Bola Tinubu campaigned in February on promise of stabilizing the economy. Now, Unilever’s exit from the two production lines implies job losses—755 people worked for it in fiscal 2021—compounding Nigeria’s employment crisis.

Read on
https://dailypostngr.com/2023/03/heres-why-unilever-nigeria-is-exiting-from-nigerias-home-care-and-skin-cleansing-markets/

The OP is mischievous. For Unilever to leave now implies such plan would have been in the works for months before now. So linking their exit with Tinubu is nothing short of mischief.

Babinski:


The OP is mischievous. For Unilever to leave now implies such plan would have been in the works for months before now. So linking their exit with Tinubu is nothing short of mischief.

Haba! Wetin dey do you naa? Is it not true?? The announcement/exit came just weeks after Jagaban was declared president-elect