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‘Cost of raw materials affecting paints industry’


Paint makers

With inflation and access to foreign exchange for raw materials becoming a challenge for local producers, paints manufacturers have raised concerns about the rising cost of raw materials in the country.

According to the operators, it is becoming challenging to sustain operations and managing hikes in prices.

The management of Chemstar Paints Industry Nigeria Limited, manufacturer of Finecoat and Shield Paint products, however, promised that the company would continue to strengthen its partnership with painters towards producing the best quality paints for the use of Nigerians.

The company has also rewarded its painters with over N40 million, including car gifts, cash and other items in the just-concluded 2021 Finecoat & Shield Painter’s Appreciation Promo.


This is as the company lamented that production had not been easy in the last few months especially with the paints industry due to the negative impact of COVID-19 pandemic and the general downturn in the global economy in which Nigeria is not exempted.

The Chairman/Chief Executive Officer of Chemstar Group, Dr. Remi Awode, however, described painters as critical “valuable chain,” and partners of progress in the company’s production line.

No fewer than 2,100 painters across the federation, according to him, participated in the 2021 edition of the Finecoat & Shield Painter’s appreciation promo, which held in Abuja and Lagos respectively, out of who a total of 266 painters were rewarded with various gift items ranging from cars, cash, LED TVs, freezers, generators, Home Theatres to GOtv decoders, and other electrical appliances.

In the Lagos edition of the promo, Awode added that 302 painters participated out of whom 46 of them with the highest number of coins were also rewarded at a reception, which took place at the company’s head office.

“We value you and that is why we looked for the best way to reward you,” he said.

The Group Managing Director, Mr. Adedayo Paseda, who said that the reception was organised to reward the painters in recognition of their contribution as a critical sector in the company’s chain of production, stressed: “We recognise the important position and role play by painters in the paints industry.”

He noted that as a valuable partner in the production chain, the beauty and success of the paints industry depend largely on the input and expertise of painters.

The Executive Director, Sales and Marketing, Fola Laguda, the winners in Abuja and Lagos were rewarded with cars respectively for having the highest coins in the promo, restated the commitment of the paints industry to sustain healthy relationships and partnership with painters across the six geo-political zones of the federation.


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