Unilever Nigeria Plc, a consumer goods company, has officially halted the production and sale of its home care brands within Nigeria. This decision aligns with Unilever's strategy to exit the home care and skin cleansing category in Nigeria, including well-known brands like OMO, Sunlight, and Lux. The company reported increased revenue, with its food products segment playing a more substantial role, and achieved profitability during the nine months ending on September 30, 2023. The discontinuation of home care production and sales aims to allow Unilever to focus on higher growth opportunities.
Unilever's decision to exit the home care and skin cleansing category reflects its strategic realignment, concentrating on more promising ventures in Nigeria. The company reported revenue of 81.57 billion Nigerian naira ($106.6 million) during the nine months ending on September 30, 2023, marking a 25.95 percent increase compared to the previous year. The company's financial reports for these segments are still being assessed and are expected to be fully accounted for by year-end reporting. Unilever's shift towards profitability is a positive development for the company, with increased revenue from both its food products and home care segments. The company's strong performance in its domestic market, where it generated $103.9 million in revenue, reflects its commitment to growth and resilience in the Nigerian market.