Vitafoam Nigeria Plc, a foam manufacturing company based in Lagos, announced it will be implementing a new measure that will help create massive job opportunities and boost the Nigerian Government’s policy on youths’ self-employment.
The company’s new job creation strategy, which is aimed at expanding the scope of the Small and Medium Scale Enterprises (SMEs), is consistent with the economic diversification programme of the Nigerian Government to grow the Gross Domestic Product (GDP) and other key indices of economic growth and development.
Vitafoam’s Group Managing Director, Taiwo Adeniyi, who addressed participants at a one-day Entrepreneurship Seminar for Undergraduates, with the theme “Polyurethane Application for Small and Medium Enterprises” at the University of Lagos, said economic transformation and diversification must be rooted in the development of strong SMEs.
The Managing Director described polyurethane as materials such as woods, fibers, plastics, clothing, footwear and generally household and industrial products. He noted that the raw material can be manufactured as furniture parts, cooler, boxes, mattresses, garage doors, water heaters, fridges and a host of others.
According to Adeniyi, “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”.
He added that “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 SMEs in Nigeria are plagued with challenges such as funding, lack of technical support, difficulty in access to raw materials and relatively high stock holding.
Guest speaker Gerson Silva, a Non-Executive Director of Vitafoam, who runs the largest Polyurethane Company in Brazil, spoke on the “discovery and historical progression of polyurethane” and noted that a wide range of products and services are derivable from polyurethane, hence, the economic benefits of the technology can only continue to grow.