Furniture industry in Nigeria by Limult
The furniture industry in Nigeria has experienced a major challenge which is the shortage of timber supply but industry professionals have put together so much work to develop modern designs using contemporary material like wire mesh, Wicker or rattan furniture, Metal etc.
Another prevailing problem that is making the efforts of manufacturers in the industry go unnoticed is the access to reliable sources of power.
Not only is this detrimental to the production of furniture and manufacturing but also the nation’s ability to possess a sustainable GDP.
The electrification of Nigeria will liberate many of the constraints that we face as a nation as regards to our overall productivity.
This will also help in empowering local manufacturers’ abilities to produce more high-quality furniture at reduced prices.
Furniture manufacturers at the moment must rely on the electricity provided by the government as much as possible.
Although these conditions are not ideal, it does not, however, impact on the ability to provide quality, affordable furnishing, and interior design solutions.
In order to make the system more innovative, great care should be taken so as to ensure that the industry becomes more efficient and are capable of producing high-quality goods by utilizing the waste from the production process to create other goods.
With the calls for diversification of the economy, the furniture manufacturing sector has experienced growth that has been contributing to the earnings for investors and the GDP of the country.
The global furniture market has been on the rise, with analysts forecasting the compounded annual growth rate (CAGR) estimate of 3.53 percent over the period of 2012 and 2016.
Nigeria has not been left out in this global. Reuters showed that one of the key factors contributing to this market growth is the boom in real estate industry.
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Ibadan Airport Development and Challenges by Limult
Ibadan Airport Development
Nigeria has about 28 airports. Twenty-three including Ibadan Airport, managed by the Federal Airports Authority of Nigeria (FAAN).
Based on research and statistics from the aviation regulatory authority, discovery shows that only three of the airports are viable.
Except the Murtala Muhammed International Airport,, Lagos; Nnamdi Azikiwe International Airport, Abuja, Port Harcourt International Airport, Rivers State, none of the other airports has sufficient revenue to cover the cost of operations alone.
The Ibadan the airport is home to one terminal and an impressive 2,400-metre-long runway.
Major Challenges Behind the Development of Ibadan Airport
The airport remains largely underutilized. Only one carrier operate scheduled flights into the terminal connecting passengers between Ibadan to Abuja and Abuja to Ibadan.
The International Air Transport Association (IATA) says that for an airport to be viable and self-sustaining, it must have at least five million passengers annually.
Only Lagos and Abuja airports could boast of at least five million passengers annually. Ibadan Airport does not meet up to the above stated qualification.
Another key factor affecting Ibadan Airport is demand. There must be demand for air services; this drive for demand that would enable airlines to make money on the route. It is clear demand for air services into the airport is low.
It is not absolutely about the air fare structure or regime, because fares do not have to be low due to volumes.
An expert said: “Ibadan Airport is not a big airport, but FAAN is yet to adjust to the realities of modern day marketing of airports.
The airport has proximity airports including Akure and Ilorin Airports and the main hub Lagos Airport. These airports are not too far and actually competing with Ibadan Airport.
“The major attraction at the airport is the Abuja route, the only operator on that route is offering high fares. He said Ibadan Airport lack basic aeronautical facilities as the runway light only permits visual flights.
Ohunayo said after 6pm operators are not favorable disposed to operate flights because they have to pay extra charges for the runway airfield lighting to be switched on.
The Way Forward
The Oyo State Governor, has assured that his administration is trying to expand the Ibadan Airport runway.
“We believe that the airport in Ibadan should serve as a true alternative airport to Lagos. We have a project that we are incubating right now.
Also trying to expand the runway so that bigger aircraft can land in Ibadan. “We looking at Ibadan as actually becoming the hub for regional air transportation.
Contact us at +2347052446249 for more information on our redefining industry development services or visit our store at www.limult.com/shop to see more products that we make available for the people.