₦airaland Forum

Bobloco:
Did you read the report from the respected international newsmagazine, The Economist of London

Just say you have been wired to believe everything that seems to portray the Tinubu administration in a bad light is caused by Peter Obi and the Obidients.

DMerciful:
Yet yoj support a confirmed drug lord, identify thief, certificate forger and Lagos govt looter

Bobloco:
This thread is not about Peter Obi. Not at all.

The thread is about what The Economist said concerning the worsening insecurity bedeviling the country under Tinubu's watch.

Larryndelaw:
I'm expecting Obi and his Obidients nonsense to focus more on Igbo killing igbo in the east instead of ranting online.

Honestey:
Obi shouldn't have said this, read between the lines you can't help but feel this man is actually happy that the country is in this bad situation and that's not a presidential material personality for me.

Blazebond:
Na hate and bitterness go kill una,your states are being crippled by violence everyday but you see nothing wrong in it but if it's other states outside of your region having problems you will be the first to comment nonsense,you (Igbo) people are the biggest hypocrites in Nigeria.

Bobloco:
If you say Peter Obi looted the country, how are you going to describe what the current president has done to the Lagos State Treasury? It's on record that for over two decades, Tinubu has been criminally siphoning state funds into his private pockets through a blueprint conduit pipe he built from the coffers of Lagos Treasury to his personal company.

Rantingpiglets:
Grow up.

Tinubu that built LAGOS according to you, has degraded NIGERIA. The fact that actual Governance is not Worthless and useless Propaganda, shows why Propaganda is OPIUM in the SW laced with mukti-level poverty.

RONU...

DamnnNiggarr:
How did he loot the country?

immortalcrown:
He is a liar.

Who ruled blacks before colonialism?

Who rose up against black leaders like Gaddafi, Goodluck Jonathan and Lumumba?

When they weaken or eliminate good leaders of the black origin and enthron bad black leaders, they turn around to say the blacks cannot rule themselves.

Shawl001:
Hmmn.
This is a very audacious statement.

Nothing of a truth here, just based on certain facts, which are tentative.
How did the blacks rule themselves before they brought Colonization?

Workch:
Well, we are yet to prove him wrong.

AustineE1:
This news will not make it to front page and this could have been a viral news with several pages on nairaland if a particular ethnic group was mentioned...Lagos-Ibadan parapo media will be silent on this,what an amazing nation we are！

According to Late Nabeeh s father, Those that kidnapped my family spoke in Hausa and Yoruba only.

I guess it was Chinaza Philip who taught the kidnappers how to speak yoruba and hausa.

Igbophobia is Real.... pic.twitter.com/QJCm9Ez4Sc

— EJIKEME🇳🇴🇳🇬 (@ejykmykel1) January 22, 2024

Arise TV had an exclusive interview with Nabeeha's father.

The father of six kidnapped girls recalled how their abductors (who spoke in Hausa & Yoruba), led them away (presumably on foot) after exchanging fire with the police; & how they occasionally rested for 30 or more mins… pic.twitter.com/PGvB0qnGRB

— Spotlight Abby (@Spotlight_Abby) January 21, 2024

updatechange:
Thanks ojare… the name sounds unusual and unique

Okoroawusa:
I Love Bola Ahmed Tinubu

iwaeda:
Unilever Nigeria Plc lost about N3.726bn from the discontinuation of its home care and skin cleansing products including Omo washing powder, Key soap, Pears baby care goods, Vaseline petroleum jelly, and Lux soap.

In its recently released unaudited interim financial statements for the year ended December 31, 2023, Unilever revealed that the loss for the period under review was higher than the N1.492bn in 2022.

In March 2023, Unilever Nigeria announced it would be exiting the home care and skin cleansing markets to reposition its business for sustained profitability. Production and Sales for Home care and Skin cleansing business categories ceased in December 2023.

The statement it released back then said that it was changing its business model to accelerate the growth of the company and meet the needs of consumers, shareholders, and employees better.

AFCON SPECIAL0:06 / 1:01


Part of the statement read, “This will involve repurposing the portfolio by exiting the home care and skin cleansing categories to concentrate on higher growth opportunities.

“Strengthening business operations with measures to digitise and simplify processes; and focusing more on business continuity measures that reduce exposure to devaluation and currency liquidity in our business model.”

On the figures from the discontinued operations, Unilever said, “The numbers reported reflect the results of the Home Care and Skin Cleansing business categories from the beginning of 2023 to its discontinuation in September and December respectively. The comparative figures represent the full-year results of the business categories in 2022.”



In the period under review, Unilever recorded N16.484bn in turnover for the discontinued products which was overwhelmed by the cost of sales which stood at N17.044bn. Also, the firm disclosed that it had entered into a Finance Lease contract for its Plants and Machinery previously used in the Home Care and Skin Cleansing business categories with a third party. The lease term is for a period of 10 years.

Meanwhile, Unilever Nigeria Plc enjoyed royalties, and service fees holidays in 2023.

Based on the agreement, Unilever Nigeria Plc has exclusive rights to the know-how, manufacture, distribution and marketing of international brands namely: Omo, Sunlight, Close-Up, Pepsodent, Vaseline, Lux, Knorr, Royco, and Lifebuoy in Nigeria, given to it by Unilever Plc, United Kingdom is expected to pay a royalty of 2 per cent of net sales value and 0.5 per cent of net sales value for Technology and Trade Mark licences respectively.

“Also, Unilever Nigeria has a central support and management services agreement with Unilever Europe Business Centre B.V (previously Unilever Plc) for the provision of corporate strategic direction, and expert advice/support on legal, tax, finance, human resources and information technology matters. In consideration of this, a fee of 2 per cent of profit before tax is payable as service fees.

“Unilever Nigeria Plc enjoyed royalties and service fees holiday in 2023. N106m reported in 2023 is a true-up from 2022 royalty and service fees due.”

At the end of 2023, the company’s revenue rose to N97.437bn from N64.642bn in 2022. The company’s profit for the period rose significantly to N8.543bn from N4.467bn.
https://punchng.com/unilever-records-n3-7bn-loss/

Penguin2:
So which company gained 🤔?

The ones that packed up and left Nigeria?🤔

LAGOS - Unilever (LON:ULVR) Nigeria Plc has announced a robust financial performance for the year 2023, with its revenue and profits after tax both showing substantial increases. The consumer goods company's revenue surged to ₦97.43 billion, a notable rise from ₦64.64 billion in the previous year. In line with this, profits after tax also climbed to ₦8.54 billion, up from ₦4.47 billion, reflecting a healthy growth trajectory for the firm.

Despite these positive developments, Unilever Nigeria faced some challenges, including a loss of ₦3.73 billion from discontinued operations. Additionally, the company's operating cash flow experienced a downturn, decreasing to ₦2.69 billion. However, these setbacks were offset by a significant increase in finance income, which reached ₦17.13 billion. This boost in finance income was largely due to earnings from interest on call deposits and bank accounts, as well as a promissory note discount connected to the Federal Government Export Expansion Grants, which contributed to the company's overall financial gains.

The earnings per share (EPS) for Unilever Nigeria also reflected the company's positive performance, indicating growth that aligns with the increases in revenue and profit.

LAGOS - Unilever (LON:ULVR) Nigeria Plc has announced a robust financial performance for the year 2023, with its revenue and profits after tax both showing substantial increases. The consumer goods company's revenue surged to ₦97.43 billion, a notable rise from ₦64.64 billion in the previous year. In line with this, profits after tax also climbed to ₦8.54 billion, up from ₦4.47 billion, reflecting a healthy growth trajectory for the firm.

Despite these positive developments, Unilever Nigeria faced some challenges, including a loss of ₦3.73 billion from discontinued operations. Additionally, the company's operating cash flow experienced a downturn, decreasing to ₦2.69 billion. However, these setbacks were offset by a significant increase in finance income, which reached ₦17.13 billion. This boost in finance income was largely due to earnings from interest on call deposits and bank accounts, as well as a promissory note discount connected to the Federal Government Export Expansion Grants, which contributed to the company's overall financial gains.

The earnings per share (EPS) for Unilever Nigeria also reflected the company's positive performance, indicating growth that aligns with the increases in revenue and profit.

RushManni:
Only u no one up your IQ

ednut1:
Buhari was pro gay

kettykin:
A journey that should not have taken igbos not more than 1 hour is now taking them more than 10 years ,let igbos not behave like the children of Israel that spent 40 years in the wilderness over a journey that is not supposed to take more than 1 hours because of lack of faith , initiatives, creativity and fear of the Egyptians of today.

PHIPEX:
It means you don't know African history.

When even Nigeria can remove presidents of small African countries ask Gambia,