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Vitafoam Partners FG On Youth Employment



Vitafoam Nigeria Plc has unfolded a new measure, involving one of its products’ application to create massive job opportunities to boost the Federal Government’s policy of youths’ self employment.

According to its group managing director and chief executive officer, Mr Taiwo Adeniyi, the company’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 in order 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, 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 could be manufactured as furniture parts, cooler, boxes, mattresses, garage doors, water heaters, fridges and a host of others. He said:

“According to the Economic and Statistics Department, American Chemistry Council, the Polyurethane Industry, operates in nearly 1000 locations in the United States, directly generating 28. 6 Billion Dollar output and 48,800 jobs.

The top end- use markets for polyurethane consumption are building and construction, transportation, furniture and bedding industry.

“Our core objective of this seminar is how to create sustainable jobs for our youths as 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, can create jobs for themselves.

“They can be chief executives as soon as they finish their schooling and start their own businesses and help to develop this economy.

“Vitafoam has strong capacity to provide the required support structure for SMEs in the polyurethane industry.”

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, Mr Gerson Silva, spoke on “Discovery and Historical Progression of Polyurethane.” He stated that a wide range of products and services are derivable from polyurethane, hence, the economic benefits of this technology can only continue to grow.





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