Paints manufacturer tasks govt on infrastructure devt, interest rate
Chemstar Paints Industry Nigeria Limited, makers of shield and finecoat quality paint has called on the President Muhammadu Buhari to address the nation’s huge infrastructure deficit and also bring down interest rates to a single digit.
The Group Managing Director of the company, Aderemi Awode, explained that a sector like manufacturing should be given the desired support it deserves due to its capacity to create employment opportunities for the nation’s teeming and unemployed youths.
Awode during the company’s Group Managing Director and Chief Executive Officer yearly merit awards to celebrate long service staff of the company, pointed out that the manufacturing sector is still plagued with myriads of infrastructural challenges where manufacturing outfits still spend so much on alternative source of energy to provide energy supply to run their factories.
”We want the new administration to look at the area of infrastructure because it is quite important to us as manufacturers, as you are aware all the industries are run by energy. I am sure this government will tackle this issue headlong. Another area where I think government has to pay serious attention to is to bring down interest rate to single digit for the real sector because the sector provides a huge amount of employment for manufacturers in the country,” he said.
According to him, the company has about 15 per cent market share of the paint industry which produces about 300 million litres yearly, saying that plans and innovations are underway to increase the company’s share of the market.
In his words, “The business environment is quite challenging and not friendly, my advice for upcoming entrepreneurs is to have a lot of patience, perseverance and must be financially disciplined. Over the years, we ploughed back the profit into the business to achieve growth and this has helped us a lot to get to where we are today. You must have a passion for what you are doing and must be discipline financially and morally.”
Awode attributed its 20 years landmark success to strong and passionate leadership, stressing that with his two years experience in the paint industry, he has been able to move take the company to greater heights.
“We have moved from that small company we were 20 years ago with just to staff to over 1000 staff we currently give employment to. We have expanded our factories in Lagos to Accra and Turkey. It has been an interesting journey,” he said.
“Our success today can be attributed to leadership because we have passion for the paint industry. I have worked for the paint industry for about two years where I developed the passion. Our company is blessed with staffs who are motivated. We work together as a family and allow inputs and ideas from members of staff,” he added.
He said the award ceremony is in two categories to celebrate staff that have spent 10 and 15 years respectively in the company and also rewarding staff that have done exceedingly well in their various departments.
“Everything we do, we improve every year. What we are having this year is bigger than what we did the previous year. Every year we celebrate our staff for long service with the company. We also give awards to staff who have done exceedingly well in all departments and also our staff games,” he said.
“We are also coming up with new brands to retain our market share and in order to meet the ever changing needs of our consumers. We have done quite a lot over the years, we also have target both short, medium and long term so that in the next five years, we would have achieved more than what we have achieved in the past 20 years,” he added.
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