Unilever Nigeria Halts Production and Sale of Omo, Sunlight, Lux, Others

Unilever Nigeria Plc has officially halted the production and sale of its well-known home care and skin cleansing products, including popular brands such as Omo, Sunlight, Lux, and others. This decision comes approximately 10 months after the company initially announced its intention to exit both markets.

The revelation was made in Unilever Nigeria’s unaudited interim financial statements for the year ending December 31, 2023, which were submitted to the Nigerian Exchange Limited (NGX) over the weekend. The company stated that production and sales of these products ceased in December 2023.

Moreover, Unilever Nigeria disclosed the appointment of Mr. Michael Ikpoki as the interim Chairman of the Board, succeeding His Majesty, Nnaemeka A. Achebe, Obi of Onitsha, who retired from the Board effective December 31, 2023.

In a letter to the NGX, Mrs. Afolasade Olowe, Senior Counsel and Company Secretary at Unilever Nigeria, conveyed the information, stating that Mr. Ikpoki would serve as the interim chairman until the appointment of a substantive chairman.

The company mentioned that the factory previously used for the production of home care and skin cleansing products has been leased to a third party for a duration of 10 years, with annual rental payments.

Before Unilever Nigeria’s exit from these markets, the company experienced a decline in revenue and an increase in losses. In 2023, the revenue plummeted by 45.1 percent year-on-year to N16.48 billion, compared to N23.92 billion in the same period in 2022. The losses also escalated to N3.72 billion, a significant rise from the previous year’s N1.49 billion.

Unilever Nigeria’s strategic shift away from home care and skin-cleansing products leaves the company focusing on its remaining sectors, including foods, beauty and wellbeing, as well as personal care products.