Unilever is reportedly set to spend US$200m in a bid to expand its presence in Nigeria.

A local news report citing CEO Paul Polman said the consumer goods firm is to inaugurate a new facility in the country next month. Polman reportedly said Unilever “felt it was the right time to increase its presence in Nigeria since its growth potential was accelerating”.

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Unilever, which sells its Knorr, Royco and Blue Band food brands in Nigeria, refused to be drawn on whether the investment would be specifically in its food or non-food businesses.

A spokesperson for Unilever said the company “is not in a position to share specific details” but said: “This is a range of investments in our operation and supply chain that we are making in a growing and dynamic economy.”

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