Henkel’s P2P Initiative: Empowering Nigerian Youths to Drive Economic Growth
German Multinational Henkel’s Peer-to-Peer (P2P) initiative emerges as a beacon of hope in Nigeria’s economic landscape, marking International Youth Day.
In a bid to invigorate Nigeria’s economy and empower its youth, Henkel, a renowned German multinational and manufacturer of WAW and Nittol detergent brands in Nigeria, has unveiled its groundbreaking Peer-to-Peer (P2P) initiative. Launched in 2017 during a period of global economic uncertainty stemming from the oil glut, the P2P initiative was designed to be more than just a response to challenges—it was a forward-looking strategy aimed at fostering innovation, creating job opportunities, and equipping young individuals with the tools needed to navigate a complex economic environment.
Read Also NBS Unemployment Report Faces Backlash as Labour and Employers Cry Fraud
Four years down the line, the P2P initiative stands as a resounding success story. More than 250 Nigerian youths who were once searching for opportunities have now become the creators of such opportunities. Their journey from job seekers to empowered entrepreneurs paints a vivid picture of resilience and determination.
Chairman/Manager of Henkel, Rajat Kapur, elucidated the company’s expansive vision, stating, “Our ambitions go beyond mere numbers. Through partnerships with various states, we strive to ignite the entrepreneurial spirit across West Africa, cultivating a thriving ecosystem of growth and innovation.”
Pay Attention To President Election Tribunal to Decide Bola Tinubu’s Fate on September 16, 2023
Chidera Akwuba, Transformation and PAG Manager, provided insight into the initiative’s philosophy, stating, “At Henkel, innovation is woven into our DNA. The P2P initiative stands as a testament to our commitment to introducing transformative and forward-looking solutions tailored specifically for Nigeria’s youth.”
However, the impact of P2P extends far beyond statistics. The initiative’s broader influence has paved the way for young visionaries, not only imparting skills but also renewing their sense of purpose. Personal accounts from beneficiaries like Rufai Karu and Esther Abdul Ganiyu underscore the transformative power of this initiative.
While the P2P initiative has garnered numerous accolades, Henkel’s journey is far from its pinnacle. With aspirations of empowering a substantial 100,000 Nigerian youths, Henkel reaffirms its unwavering commitment to a prosperous nation on the canvas of International Youth Day.
Henkel’s global prominence in industrial and consumer businesses positions it as a market leader with its brands, innovations, and technologies. The Adhesive Technologies business unit, specializing in adhesives, sealants, and functional coatings, holds a global edge. In Consumer Brands, Henkel holds dominant positions, particularly in hair care and laundry & home care across various markets and categories worldwide. The company’s most notable brands—Loctite, Persil, and Schwarzkopf—embody its success. In the fiscal year 2022, Henkel reported sales exceeding 22 billion euros and an adjusted operating profit of around 2.3 billion euros.
