By Peter Egwuatu

The Federal Government, Wednesday assured manufacturers in Nigeria of enhancing their global competitiveness through fiscal incentives as it inaugurated the Systems House of Vitapur Nigeria Limited, a subsidiary of Vitafoam Nigeria Plc.

Speaking at the inauguration the Honourable Minister, Federal Ministry of Environment, Dr Mohammad Abubakar, explained that the project was designed to phase out Ozone Depleting Substances and mitigate climate change.

Abubakar stated that the technological innovation had potential to enhance Nigeria’s foreign exchange earnings among others.

While listing the benefits of the Systems, he said: “There will be availability of Ozone-friendly and Low Global Potential blowing agents in the production of rigid foam. It will help in the generation of foreign exchange for the country from export of Methyl formate and foreign exchange savings from local production. Also there would be building of local capacity in the formulation of Methyl formate-based systems and consequently generating employment and wealth.

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“The Methyl formate systems will serve as source of raw material to ice making machine manufacturers. The project will lead to increased capacity utilization in enterprises that will be using the Methyl formate being produced by Vitapur.”

In his welcome address, Vitafoam’s Group Managing Director and Chief Executive Officer, Mr Taiwo Adeniyi expressed optimism that the collaborative efforts of the government through its agencies such as United Nations Development Programme (UNDP) and United Nations Industrial Development Organisation (UNIDO) had largely accounted for the success of the project.

Adeniyi, however, urged the government to create enabling environment for manufacturers to enable them compete favourably in the global space.



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