In a press conference held in Lagos on Tuesday, Ifeyinwa Ighodalo, the Chief Executive Officer of DO.II Designs Ltd, shed light on hurdles confronting Nigeria’s furniture industry, citing a substantial skill gap and the ongoing challenge of a scarcity of dollars.
Ighodalo, while addressing journalists, also took the opportunity to unveil the much-anticipated DO.II Big Black Friday sales event.
The CEO underscored the palpable impact of the scarcity of dollars and high exchange rates on the market prices of furniture items. With more than 80% of raw materials locally sourced, Ighodalo acknowledged the industry’s strides in reducing reliance on foreign sources.
However, she highlighted that the remaining 20%, including some imported items like conference tables, poses a continuous challenge due to fluctuating prices.
Expressing concern about insufficient tree planting in Nigeria, Ighodalo noted the exploitation of this oversight by the Western World. She revealed that those unable to import directly often turn to DO.II Designs Ltd due to the prevailing dollar challenge.
Despite facing these challenges, Ighodalo recognized Nigeria’s reservoir of talented individuals in the furniture industry. She emphasized the importance of refining these “rough diamonds” through training.
Proposing the establishment of a training school, she suggested recruiting skilled masters from around the world to contribute to the industry’s growth.
Turning to the upcoming DO.II Big Black Friday, Ighodalo highlighted its tradition, spanning the past 5 to 6 years. The event, scheduled for November on Black Friday, aims to provide customers with opportunities to engage with and benefit from the offerings of DO.II Designs Ltd.
Amidst the challenges, the CEO remains optimistic about the resilience of the industry and its potential for growth with strategic interventions.