Business
Sacked Unilever Workers Slam N1.5bn Suit Against Management
Unilever Nigeria Plc has been dragged before a National Industrial Court of Nigeria in the Lagos judicial division over the disengagement of about 61 workers.
In a suit No.NICN/LA/423/2012 slammed against Unilever Plc before a National industrial court in Lagos, on behalf of the aggrieved ex-workers plaintiffs by a Lagos lawyer, Barrister Prince Adekunle Ajara is asking the court for a declaration that the dismissal of the 61 claimants from their employment without paying them their entitlements or benefits amounted to wrongful termination of employment and oppressive conduct.
Ajara in a writ of summons also sought a declaration that the conduct of the Defendant by inviting armed soldiers and police to torture and brutalise the claimants was unlawful, oppressive and that the defendant is legally liable and responsible for the injury that arose out of and in the course of employment of the claimants and that the claimants are entitled to monetary compensation of N100, 000.000.
An order compelling the defendant to pay the claimants the sum of N900, 000.000 as outstanding entitlements due to the 61 complainants.
The counsel is also seeking from the Industrial court an order compelling Unilever plc to pay the claimants the sum of N500, 000.000 as exemplary and aggravated damages in reparation for the unlawful acts occasioned by the defendants against the 61 claimants.
In view of this scenario, the plaintiff while claiming the sum of N1.5billion for the benefits of the aggrieved sacked workers by reason of the unlawful disengagement urged the court to restrain the defendant, its agents, servants from harassing, intimidating and unlawfully terminating the employment of the 61 claimants and also asking for their reinstatement by the defendant.
The presiding judge, Justice Benedict Bakwaph Kanyip, has adjourned the case to May 6, 2013 for hearing.
It would be recalled that after being disengaged in 2008 the sacked workers mounted pressure on the Unilever Plc to reinstate them, by calling for various intervention. One of such interventions was handled by the National Union of Chemical Footwear or Rubber, Leather and Non-metallic products Employees, Public Defender, Lagos Ministry of Justice.
Edun made the call while speaking at the 2025 Fellowship Investiture of the Chartered Institute of Bankers of Nigeria (CIBN) in Lagos, where he reaffirmed the federal government’s commitment to sustaining ongoing reforms and expanding access to finance as key drivers of economic growth beyond four per cent.
“We all know that monetary policy under Cardoso has stabilised the financial system in a most commendable way. Of course, it is a team effort, and those eye-watering interest rates have to be paid by the fiscal side. But the fight against inflation is one we all have to participate in,” he said.
The minister stressed the need for banks to broaden credit access and finance innovation-driven enterprises that can create jobs for young Nigerians.
“The finance and banking industry has more work to do because we must finance their ideas, deepen the capital and credit markets down to SMEs. They should not have to go to Silicon Valley,” he said.
The minister who described the private sector as the engine of growth, said the government’s reform agenda aims to create an enabling environment where businesses can thrive, access funding, and contribute meaningfully to job creation.
The facility, known as the Nigeria Actions for Investment and Jobs Acceleration (P512892), is a Development Policy Financing (DPF) operation scheduled for World Bank Board consideration on December 16, 2025.
According to the Bank’s concept note , the financing would comprise $500m in International Development Association (IDA) credit and $500m in International Bank for Reconstruction and Development (IBRD) loan.
If approved, it would be the second-largest single loan Nigeria has received from the World Bank under President Bola Tinubu’s administration, following the $1.5 billion facility granted in June 2024 under the Reforms for Economic Stabilisation to Enable Transformation (RESET) initiative.
The World Bank said the new programme aims to support Nigeria’s shift from short-term macroeconomic stabilisation to sustainable, private sector–led growth.
“The proposed Development Policy Financing (DPF) supports Nigeria’s pivot from stabilization to inclusive growth and job creation. Structured as a two-tranche standalone operation of US$1.0 billion (US$500 million IDA credit and US$500 million IBRD loan), it seeks to catalyse private sector–led investment by expanding access to credit, deepening capital markets and digital services, easing inflationary pressures, and promoting export diversification,” the document read.
The document further stated that Nigeria’s private sector credit-to-GDP ratio stood at only 21.3 per cent in 2024, significantly below that of emerging-market peers, while capital markets remain shallow, with sovereign securities dominating the bond market.
To address these weaknesses, the DPF will support the implementation of the Investment and Securities Act 2025, operationalisation of credit-enhancement facilities, and introduction of a comprehensive Central Bank of Nigeria rulebook to strengthen risk-based regulation and consumer protection.
The operation also includes measures to deepen digital inclusion through the passage of the National Digital Economy and E-Governance Bill 2025, which will establish a legal framework for electronic transactions, authentication services, and digital records.
Beyond the financial and digital sectors, the programme targets reforms to lower production and living costs by tackling Nigeria’s restrictive trade regime. High tariffs and import bans have long driven up consumer prices and constrained competitiveness, particularly for manufacturers and farmers.
Under the proposed reforms, Nigeria would adopt AfCFTA tariff concessions, rationalise import restrictions, and simplify agricultural seed certification to increase the supply of high-quality varieties for maize, rice, and soybeans. The World Bank projects that these measures will help reduce food inflation, attract private investment, and enhance export potential.
The operation is part of a broader World Bank FY26 package that includes three complementary projects—Fostering Inclusive Finance for MSMEs (FINCLUDE), Building Resilient Digital Infrastructure for Growth (BRIDGE), and Nigeria Sustainable Agricultural Value-Chains for Growth (AGROW)—all focused on expanding access to finance, strengthening institutions, and mobilising private capital.