Unilever attracts $80m value-chain investment to Nigeria

Apart from over €120 million investments Unilever plc has made in Nigeria in the past three years, the multinational company has also been able to attract about $80 million in investments to the country by bringing in many companies in the value chain.

Paul Polman, global CEO, Unilever plc, said this during a courtesy call to Akinwunmi Ambode, the newly sworn-in Lagos State governor, at his residence in Ikoyi, Lagos, last Wednesday.

According to Polman, these value-chain investors were Unilever’s suppliers who invested in the country, stressing the company’s commitment to growing business sustainably and delivering innovative brands for Nigerian consumers.

“As we grow our business, we also want to showcase the huge business opportunities in Nigeria by inviting foreign investors to set up businesses in the country,” he said.

Polman noted that Unilever made a laudable step in this regard with the ’Partner to Win’ Africa Investment Conference held last year, saying the conference brought together supplier representatives from across the world alongside Unilever senior executives to discuss investment opportunities and explore strategic partnerships.

“For us, we will keep investing in Nigeria. We will also sustain efforts that attract other investors because we understand that these will create value for the economy.

“Like many other countries, Nigeria isn’t without challenges. However, there is a need for greater drive to address the bottlenecks and bureaucracies that translate into lost time. These are discouraging factors for investors,” he said.

He stressed the need for a more competitive business environment, and asked the governor to help improve the ease of doing business in Lagos, so as to attract and encourage investors.

While highlighting the company’s re-investment to its operating community, Polman spoke extensively about the Unilever Sustainability Living Plan (USLP), with evidence in key priority areas such as Improving Health and Wellbeing, Reducing Environmental Impact and Enhancing livelihoods.

“Through brands like Pepsodent, Close Up and Lifebuoy, we are actively driving habit and behavioural change enlightenment sessions in schools, with focus on oral and personal hygiene,” he further said.

Yaw Nsarkoh, managing director, Unilever Nigeria plc, said Unilever was already working with Lagos State to reduce infant mortality by increasing mothers’ access to quality healthcare at the time of birth and in the immediate post-natal period.

According to Nsarkoh, the company is also looking at improving the food value chain and has engaged a number of women to help drive this initiative.

On his part, Akinwunmi Ambode promised to ensure an enabling business environment for investors, stating that his administration will position Lagos for greater business.

To him, the level of investments in Lagos reflects those of the country, adding that his party, having ruled the state in the last 16 years, has been able to attain huge level of investments seen so far.

“We know Unilever is a major job creator, and we hope that you will continue to create the jobs for Lagos citizens. We will continue to support you in this regard,” Ambode said.

His administration is particularly interested in increasing investments in Lagos, and he intends to create a one-stop shop in the Lagos State for investor relations issues, as a step in the right direction, he said.

Odinaka Anudu