Key questions this article answers:
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Unilever Nigeria announced plans to cut down its operations in Nigeria due to the tough operating environment. How bad is it for Unilever Nigeria, and what are the implications?
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Global fast-moving consumer goods (FMCG) companies have recently been cutting down on producing key products. Why has this been happening?
On the 17th of March 2023—the eve of the Nigerian gubernatorial elections, Unilever Nigeria Plc shocked most Nigerians as it announced it was winding down some of its production in Nigeria.
In its statement, Unilever stated that it was “exiting the Home Care and Skin Cleansing categories to concentrate on higher growth opportunities”, citing Nigeria’s macroeconomic woes as its reasons.
In simpler terms, Unilever Nigeria said it was stopping production of three key products—Omo, Sunlight, and Lux (due to the impact of the persistent dollar scarcity, weak and, most recently, scarce naira) to remain profitable.
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