• Wednesday, July 24, 2024
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German firm expresses commitment to growth amid Nigeria’s economic woes

German firm expresses commitment to growth amid Nigeria’s economic woes

Henkel Nigeria, a German consumer goods firm, has restated its commitment to the Nigerian market despite its current economic climate.

In a statement acknowledging difficulties presented by currency fluctuations, inflation, and foreign exchange shortages, the company outlined its plans for sustained business growth in Nigeria.

Rajat Kapur, MD and chairman of Henkel Nigeria highlighted that they are committed to navigating the economic climate in Nigeria.

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“We plan to achieve this by continuing to focus on three key areas: sourcing raw materials locally, bringing high-quality and innovative products to Nigerians, and accelerating digital transformation” he added.

He said the company’s commitment to sustainability will be through impactful programs like Researchers’ World (“Forscherwelt”) educational science workshops and the Peer-to-Peer (P2P) initiative which equips unemployed youth with entrepreneurial skills.

“While the company has achieved most of its 2022 goals despite COVID-19 disruptions, recent economic volatility has caused some delays, but Henkel Nigeria remains confident in catching up,” he added.

He expressed confidence in the company’s ability to get back on track soon with a consistent track record and recent adjustments.

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He mentioned that Henkel Nigeria prioritizes staying relevant by conducting regular market research and tailoring its product development to meet the evolving needs of Nigerian consumers.

“Henkel Nigeria sees itself as a key contributor to Nigeria’s development through continuous implementation of innovation and sustainable practices across its business operations,” he added.