Ogun to Partner Vitafoam on Development Projects

Vitafoam Plc
  • Ogun to Partner Vitafoam on Development Projects

Ogun State Commissioner for Commerce and Industry, Otunba Bimbo Ashiru, has pledged to support Vitafoam Plc and Vono Furniture Products Limited, its subsidiary in developing a local content value chain in line with the programmes of the government.

Speaking at Vono Furniture Products Limited facility tour at the Dalemo, Sango-Ota factory, Ashiru said the state believes in private-public partnership approach to development, noting that government needs the supports of the private sector to achieve its developmental agenda for jobs creation, good standard of living and infrastructure development.

According to him, the huge investment would create more jobs for the teaming population and boost the state’s socio economic growth. He added that the products will also help government to achieve its objectives in the areas of equipping hospitals and schools with its range of products without depleting its scarce foreign exchange.

He emphasised the importance of ‘made-in-Nigeria, buy Nigeria’ products campaign, assuring that the Ogun State Government would continue to provide adequate infrastructure for businesses to thrive.

As part of the state’s commitment to enhance the ease of doing business, he noted that the government had created a one-stop shop to assist companies with all regulatory processes with various incentives such as tax waivers and other concessions.

He added that the government is willing to partner with the company in the area of corporate social responsibility including construction of access roads. The State Commissioner for Health, Dr. Babatunde Ipaye, commended Vono Furniture Products for its commitment to enhancing the nation’s economic activities, adding that the company is filling a critical gap in the socio-economic development of the country.

He assured that the government will consider products from the company in its purchase orders, urging the firm to consider concessionary prices for government’s orders given that such purchases are for the overall good of the people.

The Special Adviser to Ogun State Governor on Trade and Investment, Mrs. Babi Subair, noted that with the huge investments made in machinery and human expertise, Vono is now well positioned to take advantage of the market.

She assured that government would continue to provide the necessary support to encourage the company. The Group Managing Director of Vitafoam, Taiwo Adeniyi, commended the Ogun State Government for its support to the group, noting that the presence of its top officials was an encouraging testimony of the state’s continuous support towards the development of indigenous firms in Nigeria.

He pointed out that the Vitafoam Group, which started as a development experiment has grown over the years from just a foam-manufacturing company into a complete home solution company with five business subsidiaries that produce vast range of products. They include bed and beddings, pre-fab structures, insulation, foot wears and wood and metal furniture among others.

About the Author

Samed Olukoya
CEO/Founder Investors King Ltd, a foreign exchange research analyst, contributing author on New York-based Talk Markets and Investing.com, with over a decade long experience in the global financial market. Contact Samed on Twitter: @sameolukoya; Email: [email protected]

Be the first to comment on "Ogun to Partner Vitafoam on Development Projects"

Leave a comment

Your email address will not be published.