FAMAD partners firm to produce shoe soles locally

The Footwear and Accessories Manufacturing and Distribution Plc (FAMAD) said it has partnered with a local producer to make soles for school shoes locally. This is just as the firm expressed concern over the influx of poor-quality imported footwear from China and European countries, saying this is stifling the growth of the local manufacturers. The […]

The Footwear and Accessories Manufacturing and Distribution Plc (FAMAD) said it has partnered with a local producer to make soles for school shoes locally.

This is just as the firm expressed concern over the influx of poor-quality imported footwear from China and European countries, saying this is stifling the growth of the local manufacturers.

The Chairman of FAMAD’s Board of Directors, Pastor Ituah Ighodalo, stated this in Lagos during the company’s Annual General Meeting (AGM) where it presented financial reports for 2007 to 2021.

The chairman stated that the company would be importing its own moulds for the purpose of manufacturing soles 100 per cent locally.

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He stated that the intent of the partnership was to encourage local production, saying for Nigeria to develop as a nation, it must increase its production.

He said, “I am proud to say we have reached a turning point. In the last few years, we’ve been able to update our machinery, and our product quality has improved as our designs for school shoes have increased.

“This positions us in a place where we can offer good, first-hand quality footwear to the market, giving the China-made shoes a run for their money and gradually making the second-hand market redundant.

“To cushion the effects of low patronage due to the off-season periods for school shoes, we continue to master the art of not just institutional shoes like boots, safety shoes, etc. but have started to create a line for men’s formal footwear. The market response continues to increase positively.

“While we remain courteous and recognise that difficult times may still lie ahead, our company has demonstrated resilience and determination, and we are certainly poised for growth. We are not unmindful of rising foreign exchange rates as the bulk of our raw materials are tied to importation. We are constrained at this time to purchase from importers.

“Therefore, the challenges to our cost of production are affected to a large extent by that. Be that as it may, we have partnered with a local producer to make our soles for school shoes and have imported our own moulds for the soles, owning them 100%. This will give us exclusivity to the production of the soles, which are lightweight and very durable in our weather conditions. We continue to research how to reduce costs.”

He stated that Nigeria can leverage on its massive raw materials to increase local production.

“Nigeria has a lot of raw materials lying idle, some of them wasting. But we have more than enough people to produce these raw materials. So the government must redirect itself,” he said.

At the AGM, three people were elected into the board including Miss Amina Ibrahim, Otunba Oludotun Olakunrin and Dr. Olusegun K. Ahmadu.