Unilever plans new investments in Nigeria

Unilever Nigeria plc has pledged to make new, long-term investments in Nigeria.

The personal care maker is also working on its backward integration plans to ensure it sources all raw materials locally.

Bruno Witvoet, president for Africa, Unilever, made these remarks during a courtesy visit of the company’s management to Bukola Saraki, Nigeria’s senate president, and Okechukwu Enelamah, minister of industry, trade and Investment.

According to Witvoet, Unilever plans to set up new plants within the country to further enhance the local manufacturing sector.

“We are pleased and very confident to state that we are a Nigerian company and we are here to stay,” he said.

“We have been in the country for 92 years and will be here for another 92 years and more. Our plans for increased investment will also bring about employment opportunities in the country as workers will be recruited for the new production line, and in the farms for the production and sourcing of local raw materials,” he added.

Appreciating what he described as a good initiative from Unilever, Saraki assured that the present administration is serious with its policy on economic diversification, adding that the National Assembly is reviewing some extant laws to make the country a business-friendly destination.

The senate president said local sourcing of raw materials will help provide a ready market for some of the produce of local farmers and provide them with the needed encouragement and empowerment. He noted that the National Assembly is determined to give its support to ensure consistent policies and also provide all the incentives required to ensure that investors are encouraged to make the kind of investments promised by Unilever.

“What we are trying to do as much as possible is to see how we can diversify and increase the supply side for import substitution, and the demand is huge. One of the concerns being raised is whether these policies are going to be consistent. And I say, ‘yes, they will,” he noted.

At a separate meeting, Enalamah said the current administration prides itself high on integrity, good governance, provision of a secure environment, economic progress and a commitment to sound policies and is ready to provide a fertile environment for investors to do legitimate businesses in the country. Unilever.

ODINAKA ANUDU