Vava Furniture Decries Fluctuating Economic Condition, Market Competition From Imported Goods

Adedayo Akinwale in Abuja

Vava Furniture Nigeria Limited has decried the fluctuating economic conditions and market competition from imported goods.

To this end, the company has reiterated calls for support of local manufacturing companies.

The Chief Executive Officer of Vava furniture, Mr. Michael Tawadrous, in a statement issued Thursday, however added that the federal government’s decision to place a ban on certain imports has helped bolster the domestic furniture industry.

He noted: “Like many manufacturers in Nigeria, Vava furniture has faced challenges, including fluctuating economic conditions and market competition from imported goods.

“Vava Furniture’s focus on local production has had to contend with infrastructure limitations and supply chain issues, which can affect production timelines and costs.”

The Egyptian entrepreneur and the founder of VAVA Group, and Globe Pharmaceutical Cosmetics Nigeria explained that navigated the challenges of infrastructure limitations and supply chain issues by investing in local talent and sourcing materials from within Nigeria.

He has also emphasised the importance of adapting to local market demands, a key factor in Vava Furniture’s ability to maintain its market presence.

“Vava Furniture plays a notable role in promoting local manufacturing. Its approach, which advocates for local production and government policies that support this, has positioned him as a key voice in the sector,” Tawadrous added.

Tawadrous and his wife were awarded chieftaincy titles by the Oniru of Iruland for their contributions to the local community.

The Egyptian has also been involved in philanthropic efforts, particularly during the COVID-19 pandemic, when his company donated food items to support residents in Lagos.

He also holds a position as a special envoy for the World Fund for Development and Planning (WFDP), contributing to initiatives focused on sustainable development and education.