Vitafoam Nigeria Plc has expressed its readiness to deploy its polyurethane business segment to create massive job opportunities for the youth.
Vitafoam’s new job creation strategy is aimed at expanding the scope of the Small and Medium Enterprises (SMEs) in line with the economic diversification programme and growth agenda of the Federal Government.
The company organised a one-day Entrepreneurship Seminar for Undergraduates with the theme: Polyurethane application for small and medium enterprises at the University of Lagos.
Polyurethane are materials, such as woods, fibers, plastics, clothing, footwear and household and industrial products, which can serve as raw material for the manufacturing of furniture parts, cooler, boxes, mattresses, garage doors, water heaters, fridges and others.
Economic and Statistics Department, American Chemistry Council, stated that polyurethane industry operates in nearly 1000 locations in the United States, directly generating $28. 6 billion output and 48,800 jobs.
The top end- use markets for polyurethane consumption are building and construction, transportation, furniture and bedding industry.
Mr Taiwo Adeniyi, Group Managing Director, Vitafoam Nigeria Plc, said economic transformation and diversification must be rooted in the development of strong SMEs.
According to him, the core objective of the seminar was how to create sustainable jobs for the 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 they can create jobs for themselves. They can be chief executives as soon as they finished 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,” Adeniyi said.
He said there were a good number of expert, seasoned engineers and scientists in the company now that have been trained and prepared for the purpose of supporting the development of SMEs.
“If someone starts a small scale polyurethane industry, we would be there to support in terms of knowledge base. We can guide you through so that the person can make a success from day one. In some cases, 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, Mr. Gerson Silva spoke on “Discovery and Historical Progression of Polyurethane” and 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
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 commended Vitafoam Group for its continuous support for the institution especially, during the university’s yearly conference.
He urged the students to take the training very seriously and exploit its benefits.
Expressing gratitude to Vitafoam for the entrepreneurial training seminar for undergraduates, a final year student of the department of Chemical Engineering, Faculty of Engineering, Olorunfemi Eniyadunmo, also commended Vitafoam for the initiative and urged other corporate organisations emulate Vitafoam.