Vitafoam Nigeria Plc
Vitafoam Nigeria Plc. has unfolded a new measure involving one of its products’ applications to create massive job opportunities and boost the Federal Government’s policy on youths’ self-employment.
Besides, Vitafoam’s new job creation strategy, aimed at expanding the scope of the Small and Medium Scale Enterprises (SMEs), is consistent with the economic diversification programme of the Federal Government to grow the Gross Domestic Product (GDP) and other key indices of economic growth and development.
Addressing the participants at a one-day Entrepreneurship Seminar for Undergraduates, with the theme “Polyurethane Application for Small and Medium Enterprises” at the University of Lagos, the company’s Group Managing Director, Taiwo Adeniyi, explained that economic transformation and diversification must be rooted in the development of strong SMEs.
Adeniyi, who described polyurethane as materials such as woods, fibers, plastics, clothing, footwear and generally household and industrial products, explained that the raw material can be manufactured as furniture parts, cooler, boxes, mattresses, garage doors, water heaters, fridges and a host of others.
“Our core objective of this seminar is how to create sustainable jobs for our youths as a support for the Federal Government’s policy of youths empowerment. Let people see why they do not need to line up and be seeking for employment but rather create jobs for themselves.
“We have a good number of expert, season engineers and scientist in our system that have been trained and prepared for that purpose. If someone starts a small-scale polyurethane industry, we would be there to support. We will guide the person through so that the person can make success. If one needs to buy some of those small equipment, we can make the contact and help to get them at affordable prices”, Adeniyi said.He listed some of the challenges facing SMEs in Nigeria as funding, lack of technical support, difficulty in access to raw materials and relatively high stock holding.
In his presentation, the guest speaker, who runs the largest Polyurethane Company in Brazil and also a Non-Executive Director of Vitafoam, Gerson Silva, who spoke on “Discovery and historical progression of polyurethane’ stated that a wide range of products and services are derivable from polyurethane, hence, the economic benefits of the technology can only continue to grow.
Earlier in his welcome address, the Vice Chancellor, University of Lagos, Prof. T. Ogundipe represented by the Deputy Vice Chancellor, Academics and Research, Prof. Oluwole Familoni thanked Vitafoam Group for its continuous support for the institution especially the University’s annual conference
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