Leading Fast-Moving Consumer Goods (FMCG) company, Unilever Nigeria Plc has call it quit with their home care and skin cleansing products in the market.
The firm however emphasised that the decision is to affect three products namely OMO, Sunlight and Lux.
A press statement from the company said that the decision to stop the production of these products was to accelerate the growth of the organisation and sustain profitability.
Unilever Nigeria’s decision was said to restructure the business model and focus “more on business continuity measures that reduce exposure to devaluation and currency liquidity in our business model.”
The company’s Managing Director, Mr Carl Cruz was quoted as saying:
“We are a truly Nigerian business and the oldest serving manufacturer in the country. By making these changes, we will unleash the sustained and profitable growth we need to be here for the next 100 years as well,”
It is pertinent to note that Nigeria’s business environment has been very tough lately leading to many organisations and Nigerians finding it difficult to access cash because of a Naira redesign policy of the Central Bank of Nigeria (CBN).