• Want more contribution of industry to GDP
The Lagos State governor, Akinwunmi Ambode and Senator Oluremi Tinubu have commended the establishment of a new ultra-modern furniture factory “Home and You Limited” in Ikorodu, saying it would create employment and increase the nation’s Gross Domestic Product (GDP).
Ambode, who was represented by the Lagos state Commissioner for Physical Planning and Urban Development, Prince Rotimi Ogunleye at the commissioning ceremony, said establishing a furniture factory in the state is a welcome development, as it would provide employment for those in the furniture and allied business.He adding that development of industries shows government’s positive indication of the appropriateness of its policy in providing an enabling environment for the establishment of new investments and for existing one to continue to strive.
“In recent times we have emphasised and advocated the need to develop and patronise made in Nigeria product for the enhancement and betterment of our economy. This ultra modern factory, I believe, will serve that purpose by producing industrially made in Nigeria furniture that can compete with foreign standard to both corporate and home use within and outside Lagos state,” he noted.
Speaking at the event, which had the traditional ruler of Lagos, Oba Riliwan Akinolu and other traditional rulers in Ikorodu as well as top business notch, Tinubu, who was represented by the former Chairman, Ikoyi-Obalende Local Government Area,Adedoyin Adeniji said in the light of the need to diversify the Nigerian economy, the furniture industry provide economic benefit via the employment of many Nigerians, with the use of locally sourced resources, thus generating income for farmers and local producers, who contribute to the growth and development of the nation’s economy.
“Local content promotion has caused an effect on the economy. I must point out that there would be high and lows. Given the recent rating on the ease of doing business in Nigeria, we can begin to experience private sector led development. Furniture companies are bound to cater for the needs of Nigerians and relief the expense of importation. We must all patronise made in Nigeria products and manufacturers in a bid to support them and contribute towards the growth of our nation’s economy, “ she said.
The Chief Executive Officer, Home and You Limited, Feyisola Abiru said the furniture factory, which is first of its kind in the country, uses semi-automated machines that allow employment of artisans and produce high capacity of outputs to meet the national need Nigerians in interior design and space management, while the company looks forward to expanding its reach to foreign counties, thereby promoting local products.
She said the challenge facing the industry still lingers around inadequate power supply, multiple taxation, infrastructure, lack of skilled labour, while she enjoined government to pay attention to vocational schools and raw materials used for production, thereby limiting importation and enhancing self-sufficiency.“ If the government can encourage industrialisation in that regard whereby people set up plans for the production of engineered woods, it would help us, that way we are dealing directly with manufacturers of the board rather that dealing with middle men who bring the boards,” she said.
Also speaking on the new furniture factory in Ikorodu, the Pioneer Chairman, Home and You Limited, Olusegun Osunkeye said it is a great edifice that the country would benefit from, adding that it will create employment because of the local content policy of the government and help with rural development, reducing insecurity in the country.
Source: G Business