The Deputy Managing Director, Chemstar Paint Industry Nigeria Limited, Adebayo Paseda, has said the country’s paint industry is still largely dependent on importation of raw materials. He added that although the company has been able to raise its local sourcing capacity for raw materials to about 80 per cent, the figure only represents very low cost materials while the expensive raw materials are still imported.
In his words: “For the paint industry, if you look at local sourcing by weight content of what we do, you can say we are about 80 per cent, but unfortunately, they are low cost materials while the very expensive ones are imported and even the ones that are locally produced still rely on importation. The industry is still heavily import based.”…
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