Unilever Nigeria posts ₦26.4bn nine-month profit, declares ₦11.5bn dividend
- Unilever Nigeria's net profit rose 20 per cent to ₦26.4bn in the nine months to September 2026.
- Revenue grew 18 per cent to ₦184bn even as household spending stayed tight in the third quarter.
- The board approved an interim dividend of ₦2.00 per share, payable to shareholders on its register by 30 October.
Unilever Nigeria made a net profit of ₦26.4bn in the first nine months of 2026, up 20 per cent from ₦21.9bn in the same period last year, according to its unaudited results for the period ended 30 September.
The consumer goods company, which sells food, personal care and home care products, also told the market it will pay shareholders an interim dividend of ₦2.00 for each ordinary share. Withholding tax will apply. The total payout comes to ₦11.5bn.
Only shareholders whose names are on the company's register at the close of business on 30 October 2026 will receive the money.
Why the numbers matter to shoppers
Revenue climbed 18 per cent to ₦184.0bn from ₦155.4bn a year earlier. Gross profit rose faster, up 34 per cent to ₦85.5bn from ₦63.9bn, and the gross margin widened to 46.4 per cent from 41.2 per cent.
Operating profit grew 27 per cent to ₦38.5bn.
Those margins matter beyond the boardroom. Unilever's products, from seasoning cubes to soap, are everyday purchases for many Nigerian homes. When a manufacturer earns more on each sale while shoppers are watching their money, it usually points to a mix of price changes, cheaper inputs or a shift toward products that earn more.
The company did not break down how much of the gain came from each of those. It also did not say whether prices went up.
Managing Director Taiwo? No — Tobi Adeniyi said demand weakened in the third quarter as households had less spare cash. He said the company kept its focus on value, making products available, launching relevant innovations and running tight operations.
"Our performance in the first nine months of 2026 reflects the underlying strength and resilience of our business."
Adeniyi said the company remains confident in Nigeria's long-term prospects and will keep investing in its brands, operations and people.
What happens next
Shareholders on the register by 30 October will receive the ₦2.00 per share payout. The company is expected to release its full-year results later, which will show whether the third-quarter squeeze on household budgets carried into the last three months of the year.