Less is more in Nigeria as Unilever and rivals look to cash in
Lagos — With Africa’s most populous country out of recession, and the wider region on the path to growth, the world’s consumer goods companies are looking to cash in. Last month, Unilever opened a $12m Blue Band margarine factory in Nigeria’s south-western state of Ogun so it does not have to import margarine from Ghana, as it has in recent years. It is also in talks with suppliers to switch to a locally sourced flavouring agent for its toothpaste. These are examples of how the Anglo-Dutch group, like its global rivals, has been forced to adapt its business to cope with a central bank decision to restrict access to foreign currency for the import of certain products since 2015 to boost the economy. Another way Unilever is tailoring its operations to the local market is by offering smaller pack sizes of a range of products, from tea to stock cubes, to appeal to more customers in a country and region plagued by poverty and inequality. Shops in Nigeria’s commercial capital Lagos sell p...
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