GRANITE INVESTMENT OPPORTUNITY IN NIGERIA

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The ever increasing deficit in housing supply in Nigeria which is estimated at over sixteen million {16,000,000} units and the need for the construction of other important infrastructure if the country is to meet up with the vision 20:2020 project of becoming among the top 20 economies in the world by 2020 continues to drive the need to granite, an essential construction raw material.

In 2008, It was estimated that the granite chipping demand in southwestern Nigeria was about 24.2 million tons while the total production was about 18 million tons leaving a supply gap of 6.2 million tons. This translates to an annual market size of over N48 billion.

The supply gap has been identified to continue to expand as construction activities in the region continue to grow at a faster rate than the increase in production of granite. According to The Netherlands Development Finance Company (FMO) Nigeria’s housing deficit to date is 17 million housing units on a total population of 140 million with virtually no organized mortgage market.

In addition, infrastructural development particularly with the Federal Government commitment is expected to further expand demand for granite aggregates which are a major input in the construction industry.

It should be noted that the different sizes of granite aggregates can be used for different purposes. They are used to achieve strength and durability in the construction industry. 3 ¼, 1/2 and 7/8 are usually used in the construction of residential accommodation.

To achieve strength especially in high rise building, dust and rice are usually mixed with cement to produce strong concrete slabs. They are also used in the production of poles used in the power industry.

In the construction of roads, dust, rice and ½ are mixed together in the right proportion to get the desired strength and durability.

The 3 ¼ and ½ inch sizes is the most sorted sizes because of the several uses of these sizes.

Granite can be found in Ekiti, Ondo, Osun, Plateau, Sokoto respectively.

Lagos, the largest market for granite chips in the country, is not an igneous environment where granite could be found, all the real estate developers, contractors and Civil Engineering and Construction companies gets their granite need from nearby towns.

Granite are usually priced per ton and one ton equals 1,000 KG. Prospective clients could be charged based ex-site delivery {that is the clients would take care of transportation of the product} or quoted inclusive of transportation to the site of the prospective client. The average ex-factory price of granite in Nigeria is around N 2,200/ ton.

For more enquiry call +2349053896468, or send us an email on info@surelyliftedlogistics.com

 

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