Unilever Nigeria Q1 2026 revenue rises to US$43.7M on strong volume growth, innovation
Unilever Nigeria posts strong Q1 2026 growth, driven by volume expansion and innovation, while maintaining focus on consumer-centric strategies and evaluating global merger implications.
NIGERIA – Unilever Nigeria Plc has reported a 26% increase in revenue to N59.2 billion (US$43.72M) for the first quarter ended 31 March 2026, compared to N46.9 billion (US$34.63M) recorded in the same period last year, according to its unaudited financial results.
The company also posted strong growth in profitability, with operating profit rising by 39% to N11.5 billion (US$8.49M) from N8.3 billion (US$6.13M), while net profit increased by 26% to N7 billion (US$5.17M). The performance was supported by increased volumes, innovation, and execution across its product categories.
Unilever Nigeria said the results reflect resilience in a competitive operating environment, driven by its strategic focus on strengthening brand positioning and improving marketplace execution.
Commenting on the results, Managing Director Tobi Adeniyi said: “Our Q1 2026 results represent a strong start to the year and a clear signal that the momentum we delivered in 2025 is being sustained.”
He added: “Growth in the quarter was driven primarily by increased volume, underpinned by innovation and strong marketplace execution. This performance reflects our continued operational discipline and commitment to delivering sustainable value.”
The company noted that it will continue to focus on its consumer-centric strategy to maintain its market leadership and drive further growth across its portfolio.
“We will continue to elevate the consumer experience while reinforcing a ‘play-to-win’ culture where we focus on winning with Nigerians. We are strengthening the proposition and desirability of our brands and executing with speed and excellence across all categories,” Adeniyi said.
Unilever Nigeria, which has operated in the country for over a century, stated that its performance continues to reflect strong brand equity and consumer trust.
The company said it remains focused on leveraging its diverse portfolio to deliver sustainable growth and long-term value.
In its full-year 2025 results, the company reported a 43% increase in revenue to N214 billion (US$158.03M), up from N150 billion (US$110.77M) in 2024.
Domestic sales accounted for 98.8% of total revenue, while exports contributed a smaller share. The Foods segment generated N127.8 billion (US$94.38M), highlighting strong demand within the local market.
Meanwhile, Unilever Nigeria is assessing the potential impact of the planned merger between its parent company, Unilever Plc, and McCormick & Company on its operations.
“At this stage, the Company is evaluating the specific implications of this global transaction on its local operations and corporate structure,” the company said.
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