Paint manufacturers decry high cost, scarcity of raw materials
The Paint Manufacturers Association (PMA), a subsector of Manufactures Association of Nigeria (MAN) have expressed fears over the scarcity and high cost of raw materials hindering the nation’s paints industry.
PMA noted that over 85 percent of what is required for paint production is imported.
Mr. Rotimi Aluko, Chairman, PMA, stated that paint manufacturers have continued to grapple over the past two years as a result of the scarcity and high cost of raw materials, maintaining that the establishment of a petrochemical plant to support secondary production of paints would address the situation.
He said: “We believe with Dangote’s petrochemical plants scheduled to come on stream soon, raw materials will be more available and cheaper for paint manufacturers to work with. We also strongly believe that Dangote’s investment in petrochemicals will also attract other investments into the industry.”
Aluko disclosed this during a press briefing to announce its fifth edition of its bi-annual raw materials, equipment and plants exhibition tagged “PMA Nigeria 2017 coatings show” scheduled to hold 23rd and 24th of October, 2017 at the NECA centre in Lagos.
He maintained that the two day event is intended to showcase the various raw materials, machinery, production and testing equipment used in the production of paints, inks and allied products.
He pointed out that made-in-Nigeria paint products will also be on display, stressing that the fair would provide a platform for manufacturers and suppliers of paints, raw materials, equipment and packaging materials in Nigeria to exchange ideas on current developments on raw materials, equipment and technology for paint manufacturing.
He said that since the inception of the show in 2006, it has been growing in participation and attendance and has also become more rewarding to both exhibitors and paint manufacturers in Nigeria.
The PMA boss added that the theme for this year’s exhibition “Raw materials sourcing for the coatings industry” would attract key dignitaries and captain of industries to brainstorm on the way forward for the paints industry.
He explained that some of the key stakeholders expected to grace the fair includes the Director General, Raw Materials Research and Development Council (RMRDC), Dr. Hussaini Ibrahim; the Lagos State Commissioner for Industry, Trade and Commerce, Prince Rotimi Ogunleye and the Director General, Standards Organisation of Nigeria (SON), Osita Aboloma and many others.
He noted that one of the major challenges faced by its members in the last two years was the scarcity and high cost of raw materials where majority of its raw materials are not available locally.
He stressed that with an investment of over N50 billion at current value and installed capacity of 200 million litres of assorted paints annually, the paints industry is no doubt playing a major role in the industrial growth of the economy of Nigeria.
Aluko maintained that PMA as a sub sector of the chemicals and pharmaceuticals sectoral group of the Manufacturers Association of Nigeria (MAN) is an association of companies engaged in the manufacturing of paints and allied products throughout the federation.
He said that some if its objectives as a group is to advise the Federal Government on budgetary matters relating to paints and paints raw materials and actively liaise with the Standards Organisation of Nigeria (SON) to establish paints standards and review such the standards from time to time.
Chukwuemeke Iwelunmo
