Nigeria: Unilever plans to up its stake

UNILEVER, whose detergents and deodorants are used by 2 billion consumers daily, plans to raise its stake in its Nigerian unit to as much as 75 percent to benefit from expected economic growth in Africa’s most populous nation. The move “demonstrates our commitment to the Unilever Nigeria business and confidence in the long-term growth prospects of the company and consumer goods sector in Nigeria”, Bruno Witvoet, the executive vice-president of Unilever Africa, said yesterday. – Bloomberg