Unilever Nigeria Plc is a publicly listed company with trading and manufacturing interest in the consumer goods market. In 2014, it was listed among the top 20 most valuable companies quoted on the
Nigerian Stock Exchange. Unilever Nigeria PLC is a subsidiary of
Unilever Overseas Holding B.V.
History
Lever Brothers
Unilever history in Nigeria dates back to 1923 when Robert Hesketh Leverhulme opened a trading post in
Nigeria under the business name, Lever Brothers (West Africa) Ltd. The firm was primarily engaged in trading of soap and in 1924, the name was changed to West African Soap Company.
Sensing opportunity in the country, the firm opened a soap factory in
Apapa in 1925. The company later expanded into the production of food products, it opened a new soap factory in
Aba
ABA may refer to:
Businesses and organizations
Broadcasting
* Alabama Broadcasters Association, United States
* Asahi Broadcasting Aomori, Japanese television station
* Australian Broadcasting Authority
Education
* Académie des Beaux- ...
in 1958 and changed its name to Lever Brothers Nigeria Limited in 1955. In 1960, Lever Brothers introduced Omo detergent into the market, the new product gained traction among buyers, prompting the firm to commission a factory to manufacture Omo detergents in 1964.
In compliance with the
indigenisation decree of 1972, Unilever became a publicly listed company in 1973, selling 60% of its shares to the
Nigerian public. The company became a
Nigerian owned firm. The change in equity ownership did not affect the firm's growth. In 1982, the firm began producing edible products such as Royco, Blue band and Tree top in Agbara,
Ogun State.
In addition, the company went through a period of mergers and acquisition; acquiring Lipton Nigeria in 1985 and later merging with Vaseline manufacturer, Chesebrough Products Industries in 1988. During this period, the company embarked on a
backward integration
Backward or Backwards is a relative direction.
Backwards or Sdrawkcab (the word "backwards" with its letters reversed) may also refer to:
* "Backwards" (''Red Dwarf''), episode of sci-fi TV sitcom ''Red Dwarf''
** ''Backwards'' (novel), a nov ...
scheme in order to source its raw materials locally. This business decision led the company to invest in crop production and oil palm milling. The company also invested in a tea plantation in
Mambilla to provide raw materials for Lipton.
Unilever
In 1995, Lever Brothers, 40% owned by Unilever merged with Unilever Nigeria Limited, a subsidiary of the Unilever U.K. The merger gave Unilever control of the newly merged entity, this was the first time since the indigenisation decree was scrapped that a multinational will have majority equity in a quoted
Nigerian company. Prior to the merger, in 1994, Unilever group acquired A.J. Seward, a personal care products manufacturer from
UAC Nigeria
The United Africa Company of Nigeria is a Nigerian publicly listed company based in Lagos.
Its areas of operation include manufacturing, services, logistics and warehousing, agricultural and real estate. UACN's food operations include UAC Fra ...
.
In 2001, the company changed its name to Unilever Nigeria Plc.
Products
Unilever Nigeria Plc is involved in the manufacturing and marketing of foods and food ingredients as well as home and personal care products. The company has manufacturing plants in Agbara,
Ogun State and Oregun,
Lagos State.
References
{{reflist
Manufacturing companies based in Lagos
Unilever companies
Nigerian subsidiaries of foreign companies