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Investing in SANDPAPER Manufacturing

Article written by Leo Okoro

PRESIDENT J. F. Kennedy of the United States of America (USA) at Nigeria’s independence in 1960, referring to Nigeria, said “a new nation is born in Africa that has the resources and power to rise to our USA level in 15 to 20 years.” He added: “Let’s give them a unique birthday gift.”

That Nigeria is the giant of Africa cannot be overemphasized. The country is making all preparations towards becoming one of the top twenty economies of the world by the year 2020. Africa has always looked on Nigeria to establish an industrial base founded on establishment of micro, small and medium scale enterprises of which sand paper-manufacturing industry is one.

The springing up of such industries will go a long way in eradicating poverty, unemployment, hunger, youth restiveness, terrorism and other social vices. Even development, peace and progress will be engendered in the country.

Sandpaper is a strong paper coated with sharp sand or similar substances used for rubbing rough surfaces smooth. Standard sandpaper has measurement of about 30cm x 21cm. Sandpaper is of different forms, the smooth and rough sandpaper. The rough sandpaper is used to smooth very rough surfaces while the smooth sandpaper is used on mildly rough surface to make it smooth. Sandpaper is an imported product in Nigeria. Statistics show that almost 100 per cent of sandpaper used in Nigeria is imported, as there are no well-known local manufacturers of the product in Nigeria.

The project
The project is setting up a production plant to manufacture sandpaper. The plant will be capable of producing 405,000 sheets of sandpaper per annum at production rate of 1,500 sheets per day, employing 8 members of staff at the on set working for 270 days per annum. The raw materials needed for this project are sharp sand, broken bottles, sharp stone, paper and gum. These raw materials are easily sourced locally in Nigeria.

The machines required are Samola sandpaper machine and the drying oven system. The Samola machine comprises of 10HP electric motor, 3HP roller electric motor, dual pulley, hammer pulley, dead rolls spreader, twin roller system, paper roller desk, and adhesive molder. The oven system is for drying of the product and it is powered by gas. The machines can be locally fabricated. Imported (foreign) machines are also available at higher prices.

Production process
The production process is very simple. The sharp sand, stone and broken bottles chips are mixed up in the right proportion and fed into the hammer mill. The hammer mill reduces them to the required sizes and screens the materials into granules. The paper is passed through a gum bath and the gritty granules are made to come into contact with the gum surface of the paper using the spreader. The dead rolls spreader spreads and presses the granules unto the gummed paper. The paper with the gum and the granules is passed to the oven system for drying. After drying, the sandpaper so produced is packaged ready for sale.

Virtually, all sandpapers used in Nigeria are imported from China, Taiwan and Europe as there are no well-known local productions. The lack of local production has created a wide supply-demand gap, as demand far outstrips supply, and the available products sold at high prices. There is large market for the product in Nigeria as the demand for the product is ever on the increase in industries like building construction, metal/steel, furniture/woodworks, electrical/mechanical, shoe industries, etc.

The plant producing at annual installed capacity of 405,000 sheets of sandpaper of 30cm x 21cm per sheet, selling at an average prices of N150 per sheet is capable of generating a net turnover of N60.8 million per annum. A net profit of N5.5 million in the first year of operation is realistic with an anticipated annual growth rate of 15 per cent. The pay-back period is about three years.

Finance for this project can be through equity contribution of the promoters, commercial and micro-finance banks. Other specialized banks like the Bank of Industry (BOI) are handy to augment financing of this project.

Implementing this project begins with conducting a detailed feasibility study and producing a report that ascertains the actual cost/benefit scenario of the project.

The writer strongly recommends this project to all interested investors as the industry is very virgin, attractive, feasible and quite lucrative. All prospective investors can contact the writer for a bankable feasibility report and further assistance.

Investment requirement

Preliminary expenses                          100,000
Factory site                                              400,000
Plant and machinery                        1,500,000
Motor vehicles                                    1,500,000
Furniture/fitting and equipment    300,000
Working capital                                      300,000
Contingency                                             100,000
Total                                                   4,200,000

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Written by Henry Kester Ewruje

The world is going through a global economic crisis but African countries have remained relatively unaffected by the first round of the crises.
In a write-up for Gateway Nigeria, Naija4ever, started that “Nigeria’s economy grew by 5% last year despite the Niger Delta crisis and the epileptic power supply. Why am I not surprised?
With this kind of economic growth, I cannot but agree that the attainment of vision 2020 by the federal government is possible, when the country hopes to become one of 20 top economies in the world.
The Central Bank of Nigeria gave the nations economy a clean bill of health with the domestic macroeconomic environment remaining resilient in 2008 despite continuing global economic melt down.
Financial experts say the economy is likely to remain insulated from the adverse effects of global financial crises because of limited exposure of our financial institutions to the global financial markets and the underlying cause of the crises.
Many things have been said and written about the country’s hyra-headed multifariously stunted economy. The economy is no doubt in dire straights.
Some aspects of the economy need urgent attention such as electricity, high prices of petroleum products, health care, food crises, insecurity, education, infrastructure, agriculture, Niger-Delta and employment.
Competence and confidence are fast losing ground in the country and in our people.
Surprisingly, economic and financial experts say the nation is a safe haven for investment.
Since Obasanjo’s tenure as president the only areas where growth were recorded were in the banking and telecommunications sector, but there are reports of likely explosion in other areas of the economy.
As much as we want to before optimistic about Nigeria, we are struck in the face by some brazen realities that it will be foolish to live in a false sense of grandeur. What business can anyone do with less than one hour of electricity a day? Anyway, there are those who can afford diesel for their generators.
Life however, becomes meaningless when the people abandon hope. Only emergency actions can ameliorate the extensive damage done to the psyche of Nigerians and the structure of the economy. The country’s natural and human resources have not been properly husbanded and deployed since independence in 1960.
Nigeria has come out tops in global surveys carried out on every negative indicator-poverty, human rights violation, life expectancy, transparency, government, science and technology, HIV/AIDS. Literacy, health, unemployment, violence and corruption.
Many people are thinking that the country would soon collapse.
Surprisingly, the highly credible Merrill lynch came out in November last year, with an economic survey, and the result is that Nigeria is the world’s safest economy, meaning the least vulnerable economic environment.

By this pronouncement, Nigeria may attract huge attention and investments. This is at a time when the USA, leads other countries in the risk zone including the UK, Euro zone, Bulgaria, Sweden, Hungary, Romania, South Korea, Switzerland and Australia.
Merrill Lynch came out in the economic survey that Nigeria, including Mexico, Philippines, Columbia, Egypt, Oman, Indonesia, Peru, China and Russia.
Merrill Lynch and Co, Inc is global financial services firm. Through its subsidiaries and affiliates, the company provides capital market services, investment banking and advisory services, wealth management, asset management, insurance, banking, and related financial service worldwide.
Merrill Lynch has its headquarter in New York City, and occupies the 34 stories of the Four World Financial Centre building in Manhattan. It survives on future studies and forecasts, and does not joke about it.
Nigeria should attract huge attention and investments. It is time for Nigerians abroad to come back home, and invest in the economy.

Nigeria is ripe for investment.

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Beware of fake Recruitment agencies!

A friend of mine is still trying to recover from the shock of losing N50,000Naira to a group of scammers who promised him a lucrative job with a Multinational Oil company.

My friend who has been jobless for about 5 years was elated when he recieved an email from an online recruitment agency offering him a Job, as his CV matched all the requirements of the Oil company. He was asked to come down to their offices with original certificates and registration fees, He even saw a draft copy of his employment contract. He did what he thought was enough due diligence by calling up the actual company to find out if the vacancy was actually existing, Yes was the answer from their Human Resources.

My friend thought his prayers have finally been answered. After money had exchanged hands, they kept on postponing the start date, offering various excuses why he could not start yet, only to get to their office one day and be told they have moved with no forwarding address.

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