🇳🇬NigeriaWest Africa
Unilever Nigeria reports N59.2 billion revenue in Q1 2026, sustaining double-digit growth
via Punch Nigeria2 min read
Unilever Nigeria Plc has reported a 26 percent increase in revenue for the first quarter ended March 31, 2026, reaching N59.2 billion, up from N46.9 billion in the same period of 2025. The company also saw its operating profit rise by 39 percent to N11.5 billion and net profit grow by 26 percent to N7.0 billion. Managing Director Tobi Adeniyi stated that these results represent a strong start to the year, driven by increased volume, innovation, and marketplace execution. He emphasized the company's commitment to a consumer-centric strategy and maintaining market leadership by strengthening brand propositions and executing with speed and excellence. Market analysts note that Unilever's focus on volume growth, rather than just price increases, indicates strong brand loyalty among Nigerian households. The company, which serves over 3.4 billion people globally through its parent organization, reiterated its dedication to the Nigerian market.
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Senate President Godswill Akpabio called on Nigerians to continue praying for the exposure of those sponsoring terrorism, speaking at an Inter-Denominational Church Service for Democracy Day in Abuja. Akpabio reflected on his time as Akwa Ibom State governor, where he initiated monthly prayer sessions to combat kidnapping, militancy, and killings. He emphasized that Nigeria has overcome past crises, including political upheavals, economic turbulence, pandemics like Ebola and COVID-19, and insurgencies, highlighting 27 years of uninterrupted democratic governance. Akpabio acknowledged the widespread pain caused by insecurity, including kidnappings and violent attacks, and called for national resilience. He shared his personal anguish from the Nigerian civil war, relating it to the trauma faced by families affected by current insecurity. Akpabio assured Nigerians of President Bola Tinubu's administration's commitment to ending insecurity, restoring peace, and securing the release of all captives. Secretary to the Government of the Federation, George Akume, also stated the federal government's efforts to ease economic hardship and enhance security measures.
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Must ReadExperts are advocating for immediate reforms to Nigeria's Safe School initiative following a significant increase in school abductions. Since the initiative's establishment in 2014 and implementation in 2015, over 2,000 students and teachers have been kidnapped, according to a media tally. While isolated cases occurred between 2015 and 2017, mass kidnappings targeting schools in northern and central Nigeria escalated after the 2018 abduction of 110 schoolgirls from Government Girls’ Science and Technical College, Dapchi, Yobe State. Notable incidents include the abduction of 303 students in Kankara in December 2020, 279 girls in Jangebe in February 2021, and 287 students in Kuriga in March 2024, among many others. A national plan for Safe Schools financing from 2023 to 2026 allocates N82,909,728,970 to security agencies for arms, equipment, training, and operations. The Federal Government is expected to contribute N119.83bn, with states providing N24.93bn. Former Assistant Inspector General of Police, Wilson Inalegwu, called for an overhaul of the security coordination framework, emphasizing intelligence-driven policing and strengthened state-level security structures. He also highlighted the need for integrated intelligence centers and collaboration between security agencies and communities. Retired Commissioner of Police, Lawrence Alobi, echoed calls for a review of the security architecture, stressing that all security services must actively protect educational institution