Procter & Gamble is reportedly in the process of shuttering its multi-billion dollar Nigerian diaper plant just one year after the company decided to enter the market there. In June, P&G started teh facility which makes diaeprs and feminine hygiene items. The company has not yet made a statement reagding the closure but sources say taht about 120 employees are being ladi off, according to a report in Nigerian business journal Nairametrics.
The Nigerian diaper market has been characterized by stiff competition. There are currently more than a dozen brands on the market including Pampers, Molfi, Always Nice Baby, Angle, Dry Love, Huggies and more. Other challenges include government regulations and inadequate access to raw materials.
Currently, Molfix, a brand owned by Hayat Kimya Group, is leading the market with a 44% marketshare whiile P&G has a 36.3% share. The remaining brands share a 18.4% piece of the market.
