‘Poor road infrastructure affecting movement of goods’
Manufacturers in the paint and allied products group have said the deplorable state of road infrastructure across the country is a major crisis confronting paints industry.
They added that the poor situation of highways has continued to pose greater challenge and difficulty to the industry.
The operators however called on the federal and state government to fix the major highways in the country to ease the problems encountered by paints companies in transporting their products to the customers, as well as look at other areas, such as security, import tariff and electricity that have significant impacts on the real sector of the economy.
According to Board of Chemstar Group, like other sectors of the economy, Nigerian paints industry had also been adversely affected by the economic condition in the country.
The Board added: “Construction activities in the country have been at the low ebb; property development is also at its lowest pace; the construction sector is not growing at the pace it has been growing in the past four or five years, and the lull in the property business has also affected the paints business.”
The Board disclosed this shortly after its meeting, where a major change was announced at the top management echelon of Chemstar Group.
In the new changes as announced by the Board, Emmanuel Aderemi Awode, has been appointed as the Chairman/Chief Executive Officer of Chemstar Group.
Until his new appointment, Awode was the Group Managing Director and Chief Executive Officer (GMD/CEO) of Chemstar Paints Industry (Nig.) Ltd.
A graduate of Chemistry from The Polytechnic, Ibadan, Awode is a creative and talented Paint Chemist with peculiar passion for paints technology in the areas of building paints, industrial coatings, marine coatings, automotive paints, and wood finishes.
Also, the former Deputy Managing Director (DMD), Adedayo Olusesan Paseda, has been appointed as the Group Managing Director (GMD) of Chemstar Paints and its subsidiaries.
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