Business Hilights

Tracking Nigeria's Headline Business News Online

Industry

Rising cost of aluminium roofing sheets, influx of substandard ones border operators

Chevron
Advertisements
Ad 2
Advertisements
Ad 3
Advertisements

Stakeholders in the nation’s aluminium roofing sheets production have called on the Standards Organisation of Nigeria (SON) to speed up planned review of the standards for aluminium grade downwards so as to encourage investors in the production segment.

The industrialists who spoke through one of their members, Seun Olamide told journalists that the planned move by SON to review the standards would go a long way to drive local production and increase employment generation for the Nigeria’s teeming unemployed youths.

He said the move would further reduce incidences of substandard products which have been frustrating user-experience in the nation’s housing supply sub-sector.

Olamide argued further that the aluminium roofing sheets sector was on the verge of collapse, stressing that emerging the intervention of SON would revive several closed shops before now.

He said “We hope that the standard would be reviewed from 0.40mm to 0.30mm in order to salvage the ailing industry”.

“Over the years, the timely intervention and efforts of SON have encouraged the industry to deploy backward integration strategy by setting up Cold Rolled Mills which they said have helped to save foreign exchange and increased direct and indirect employment in the country.

While arguing that the much anticipated review of the standards downward would help Nigeria’s quest to industrialise, Olamide regretted that Nigeria has become a dumping ground for smuggled inferior aluminium colour coils.

SON had at a recent technical meeting with stakeholders in the galvanized roofing sheets to elaborate standards for Zinc, Aluminium and Magnesium coated steel sheet for general application.

This stemmed from the rising complaints over the thickness and coating of galvanized steel sheets in the country, hence, the need to improve on the quality and thickness of aluminium.

The manufacturer argued that time has come to make the sector attractive to both local and foreign investors, saying its unfair to allow saturation of the Nigerian market with foreign goods because the practice is clearly undermining the growth propensity of Nigerian aluminium industry.

According to him, one of the key ways to support local investors will be to introduce tax incentives to help them better compete and boost local production.

Analysts are upbeat that there are also huge opportunities in the Nigerian economy for aluminium roofing sheets production due to rising housing demand, its durability, rapid urbanisation as a result of population explosion, upsurge in the demand for building materials and the new mortgage refinancing scheme.

Business Hilights is an online news channel conceptualized and structured to report and track on a daily basis; latest developments in critical business sectors to serve as a one stop news gateway for governments, foreign and indigenous investors.