PZ Cussons denies pulling out of Nigeria

The PZ Cussons Plc logo sits on the exterior of their Agecroft factory near Manchester, U.K., on Tuesday, Sept. 13, 2016. Through its subsidiaries, PZ Cussons manufactures soaps, detergents, toiletries, pharmaceuticals, refrigerators, and air conditioners. Photographer: Matthew Lloyd/Bloomberg

Leading homecare product maker, PZ Cussons Nigeria Plc, has denied reports that it is pulling out of Nigeria.

A report had emerged on an online platform, Nairaland, on Wednesday, titled, “PZ pulls out from Nigeria.”

The story, however, lacked body and only one line saying, “details later…” followed the title.

In its response, PZ Cussons in a statement on Thursday, issued by the Chief Executive Officer, PZ Cussons Nigeria Plc, Christos Giannopoulos, described the story as false.

Giannopoulos also responded to another report circulating on the social media with the caption, “Nigeria PZ Cussons to withdraw amid tough conditions,” saying that the headline was misleading and creating the impression that PZ had decided to leave the country.

The PZ CEO explained that the trading statement issued to the London Stock Exchange was clear on PZ Cussons’ continued operations in Nigeria.

He stated, “While these conditions prevail, we will maintain our strong market shares in key product categories in Nigeria until growth returns to the market.

“This year, 2019, we shall be celebrating 120 years of making life better and adding value to Nigeria.

“In our 120 years of doing business in Nigeria, we have faced different conditions and come out stronger at the end of each phase.”