Unilever Nigeria Profit Rises 20% to US$20M

Unilever Nigeria grew sales 18% and net profit 20% in the first nine months of 2026, and it declared another interim dividend. Its managing director said household demand weakened in the third quarter.

Unilever Nigeria reported nine month net profit of N26.4 billion (about US$19.9 million) on Friday, 23 October 2026. The local arm of a global consumer goods group also declared a N2.00 interim dividend.

The unaudited results cover the nine months to 30 September 2026, in a company statement carried by Nairametrics, Leadership and Brand Communicator. They show how a large, listed maker of household products is coping with tight Nigerian budgets.

Revenue rose 18% to N184.0 billion (about US$138.9 million) from N155.4 billion (about US$117.3 million) a year earlier. Leadership, Nairametrics and Brand Communicator give the same revenue and prior year figures.

Gross profit climbed 34% to N85.5 billion (about US$64.5 million) from N63.9 billion (about US$48.2 million). The gross margin widened to 46.4% from 41.2%, a gain of 5.2 percentage points.

Operating profit rose 27% to N38.5 billion (about US$29.1 million). The sources give no prior year figure for operating profit.

Net profit rose 20% to N26.4 billion (about US$19.9 million) from N21.9 billion (about US$16.5 million). The company states 20%, while the rounded figures give about 20.5%.

Rounded arithmetic puts net profit at about 14.3% of revenue, against about 14.1% a year earlier. Profit therefore grew slightly faster than sales.

Managing Director Tobi Adeniyi said consumer demand “came under increased pressure in the third quarter” as household incomes stayed constrained. The company says it responded with a focus on value, product availability and disciplined execution.

He said the firm will build a more balanced portfolio through sharper choices. It remains confident, he added, in the long term potential of Nigeria.

Half year figures published in July allow a rough look at the quarter. Nairametrics and Business Post gave half year revenue of N119.9 billion (about US$90.5 million).

They also gave half year net profit of N15.6 billion (about US$11.8 million). The same sources show a N2.00 dividend declared with those results.

Subtracting them from the nine month totals leaves about N64.1 billion (about US$48.4 million) of revenue. It also leaves about N10.8 billion (about US$8.2 million) of net profit.

That third quarter estimate is rounded arithmetic, not a number the company published. Treat it as a rough guide only.

The board approved an interim dividend of N2.00 (about US$0.0015) per ordinary share, subject to withholding tax. The total payout is N11.5 billion (about US$8.7 million).

Shareholders on the register at close of business on Friday, 30 October 2026 qualify. None of the outlets read gives a payment date.

This is the second N2.00 interim dividend of the year. The first was declared on Tuesday, 21 July 2026, with a register date of 31 July and payment set for 14 August.

A total of N11.5 billion (about US$8.7 million) at N2.00 a share implies roughly 5.75 billion shares in issue. That share count is a division of rounded figures, not one the sources print.

Unilever Nigeria Plc makes and sells household and personal products in Nigeria. Its shares are listed on the Nigerian Exchange, the country’s main stock market in Lagos.

Tobi Adeniyi is the managing director. He gave the results commentary quoted above.

The parent group is Unilever, which owns the Nigerian unit. The size of its stake is not confirmed here.

The results are in naira, so dollar values move with the exchange rate. At 1,324.60 naira per US$1 on 23 October, N184.0 billion is about US$138.9 million.

The Nigerian shares trade in naira in Lagos, so owners of the global group hold only an indirect stake. This article is not investment advice and gives no price view.

For US companies selling consumer goods in Africa, the quarter shows both sides of the market. Sales and margins held up, yet the managing director says household budgets are tight.

Travellers and US exporters see no direct effect. The dividend and profit figures say nothing about import rules, card limits or foreign exchange access.

The company’s own filing on the Nigerian Exchange could not be read, so the figures rest on three outlets that agree. Profit before tax, earnings per share and finance income for the nine months were not found.

Two outlets print the dividend as “2.00k”, but the total of N11.5 billion (about US$8.7 million) fits N2.00 a share. One other outlet printed different gross profit and operating profit figures and left a date blank, so its numbers are left out.

No payment date for the dividend has been confirmed. No dated share price was found, so nothing is said about how the stock reacted.

The register for the dividend closes on Friday, 30 October 2026, and the company should then announce when it will pay. Full year results for 2026 have not yet been scheduled.

The fourth quarter will show whether the third quarter pressure on household demand deepens. The company has not given a numerical forecast.

Net profit was N26.4 billion (about US$19.9 million) for the nine months to 30 September 2026, up 20%. Revenue was N184.0 billion (about US$138.9 million), up 18%.

The board approved N2.00 (about US$0.0015) per ordinary share, a total of N11.5 billion (about US$8.7 million). Shareholders on the register on Friday, 30 October 2026 qualify.

No, the company declared a N2.00 interim dividend with its half year results in July 2026, according to Nairametrics and Business Post. This one is a second payout of the same size.

Managing Director Tobi Adeniyi said household incomes stayed constrained and demand came under increased pressure in the third quarter. Sales and profit still grew over the nine months.

The shares trade in naira on the Nigerian Exchange in Lagos. US investors would need a broker with access to that market, and this article is not investment advice.

Sources: Nairametrics, 23 October 2026 ; Leadership, 23 October 2026 ; Brand Communicator, 23 October 2026 ; Nairametrics, 21 July 2026 ; Business Post, 21 July 2026 ; open.er-api.com exchange rates, 23 October 2026, 00:02 UTC (all accessed 23 October 2026).

Editorial responsibility: Matthias Camenzind , Editor-in-Chief · Editorial standards · Report an error

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