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Unilever's €150 Million Investments Highlight FMCG Market's Growth Potential In Nigeria

September 22, 2014: 12:00 AM EST
Unilever’s €150 million investments in Nigeria highlighted the growth potential of the fast-moving consumer goods market in the country. CEO Paul Polman said the investments demonstrate his company’s confidence in Nigeria’s economic directions and of Unilever’s commitment to contributing to the economy “by creating jobs and wealth”. According to the Nigerian Bureau of Statistics, the manufacturing industries accounted for 9 percent, about $46 billion, of the country’s gross domestic product. Analysts said the growing middle class, an increase in disposable income, the country’s population of 170 million, and a high number of young people are driving growth in the FMCG segment, which contributed half of that amount, according to Real Sector Watch.
Odinaka Anudu, "Unilever’s €150m investments in 3 years underline FMCG potential", BusinessDay Online, September 22, 2014, © A BusinessDay Media Ltd.
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