Reckitt Benckiser Group Plc, the maker of household goods including Dettol cleaner and Durex condoms, sees Nigeria as a potential high-growth market to rival Brazil in the long term even as Africa’s biggest economy struggles to cope with sliding oil prices and currency restrictions.
“Businesses that have a long-term outlook will become very successful in Nigeria because the potential of this country is immense,” Chief Executive Officer Rakesh Kapoor said in an interview on Wednesday in Lagos, Nigeria’s commercial capital. “If you want to invest in Nigeria, do not do that with the promise of immediate return in the next quarter or in the next 12 months.”
RB sales have declined in Nigeria as the economy weakens, Kapoor said.
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