The shrinking economy of Norway serves as a reminder of the interconnectedness of economies and the need for collaborative efforts to overcome challenges and foster sustainable economic growth. However, the impact of economic contraction is not limited to Norway alone. Joinery companies in Nigeria are also feeling the effects of the shrinking economy [44513353].
WOODstyles Limited, a joinery company in Nigeria, is facing challenges due to the economic downturn. The contract manager at WOODstyles discusses the impact of the foreign exchange rate on joinery companies in Nigeria and how WOODstyles is adapting to survive in the market [44513353].
The contract manager highlights the need for cost management and innovation in the face of economic challenges. WOODstyles is exploring strategies such as local sourcing and quality manpower to mitigate the impact of the shrinking economy [44513353].
In addition, WOODstyles is focusing on exhibition and showcasing minimalist designs to attract customers in a cost-effective manner. The company also has future goals of becoming the number one joinery company in East and West Africa [44513353].
This interview sheds light on the challenges faced by joinery companies in Nigeria and the strategies they are employing to navigate the economic downturn. It underscores the importance of adaptability and innovation in times of economic uncertainty [44513353].