Investing in paints production

With the Nigerian population increasing at annual rate of 3.3%, additional houses of more than 500,000 have to be built yearly.

This calls for the production of more building materials.

In this regard, production of more Paints will be needed to meet the building materials requirements of the nation.

Not only this, existing structures have to be painted on regular basis.

All these guarantee demand for paints production.

Establishment of Paints and Allied Chemicals Factory is an addition or injection of capital into the economy capital injection has a lot of multiplier effects on the economy.

These include among others expansion in the production capacity of the economy, Income and employment generation.

There is a wide application of the finished product as the market for paints allied chemicals cuts across various users.

Availability of raw materials for the production of paints and allied chemicals is one of the attractive things in the project.

The basic raw materials are zinc oxide, zinc sulphide, calcium carbonate, synthetic resins, hydrocarbons, and a host of others Nigeria is blessed with the availability of these raw materials.

Profitability of the project is not indoubt as % return on investment is over 150% on annual basis and pay back period is about 2 years.

With the above economic and social justifications, it is no gain saying that it is worthwhile to embark on the project.

Profitability

Annual turnover of N24 million is achievable while net income of N8 million can be realized from this project.

OLUMAKINDE ONI