NIGALEX unveils growth agenda, seeks govt’s intervention

Nigerian Aluminum Extrusions Limited (NIGALEX) has unfolded strategies to boost its operation, reinforce its competitive edge and put the company on the greater path of profitability.

Besides, the company, having identified some of the problems militating against the manufacturers of aluminum products, has appealed for immediate intervention by the Federal Government as a way of ensuring lasting solution.

Managing Director and chief Executive Officer, Iyiola Ishola in a statement made available to The Guardian, explained that the company was currently on the next phase of its expansion drive, business growth and re-positioning for optimal performance as part of its strategic plan for the next five years.

Unveiling the company’s plan, he said: “We have commenced strategic popularization of our value through effective partnering with stakeholders to create the needed awareness for the company’s products. We are ready to increase production output through our installed capacity of 7, 500 tonnage per annum and develop requisite channels to sell these outputs. We shall embark on effective logistical plans to enhance operations within the agreed date and time. We are already investing heavily in human capital with a view to building the required capacity with renewable knowledge, skills and the right attitude that meet the requirements of modern production process.

“We shall pursue progressive expansion of our market and penetrate the market with our products as a gradual process of market dominance. We shall diversify the company’s products to cater for the various consumption strata in our economy. We shall upgrade the company’s production equipment processes and control for enhanced global standard. We shall initiate effective infrastructural development to ensure comfortable environment”.

In his review of the operating environment, he identified challenges which have always impacted negatively on the operations of the companies in the sector to include, low level of awareness of the major brands, preference for cheaper but low quality products, unwholesome practices of some dealers and fabricators who substitute specification for low gauged aluminum profiles and almost non-existent Federal Government’s protection for the local manufacturers until recently.

Ishola who commended the Federal Government on its various efforts towards creating an enabling environment for the local industries explained that the implementation of local content policy was long due saying “to achieve this, there is the need for a holistic review of the current Common External Tariff (CET) with the aim of offering adequate protection to the local manufacturers.