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Tuesday, 29 March 2016

We are committed to Nigeria’s economic growth – Unilever

Unilever Africa has stressed its commitments towards further investment and growth in Nigeria. This was on Wednesday disclosed by Unilever Africa President, Bruno Witvoet, while at a CEO Forum in Abidjan. It would be recalled that earlier this year, the Africa CEO visited Nigeria where he met with key government officials like the Senate President, Dr. Bukola Saraki and the Minister of Trade and Investment, Dr. Oky Enelamah and he expressed Unilever’s intention to strengthen its investments, as well as commitment to growing business sustainably in Nigeria. At the same meeting, the Unilever Boss, stated that the company was working on its backward integration plans, driving towards 100% local sourcing over time. “We are pleased and very confident to state that we are a Nigerian company and we are here to stay. “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.” When asked about the prevailing economic circumstances in Nigeria at the CEO forum, the Unilever Boss said he believes the situation in Nigeria is improving and that the company will continue to invest in the country. He noted that as well as a number of expansion programmes already underway, approval has also being given to invest more in capital expansion. Mr Wivoet, while stating that it was not the job of companies to comment on currency policies, stated, that he is hopeful, that the current Foreign Exchange situation across the continent where black market rates are allowed to play parallel to official rates will be addressed to help support rapid economic progress.

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