Unilever is reportedly set to spend US$200m to increase its presence in Nigeria

Unilever is reportedly set to spend US$200m to increase its presence in Nigeria

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".

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."