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The Acrylic Manufactures Association (PMA) has said that epileptic accumulation of electricity has remained the affliction of the acrylic and blanket industry in Nigeria. PMA said it is planning strategies to accost the above claiming as a way of developing the industry in Nigeria.

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The action was appear afresh at the Association’s 30th Anniversary General Meeting captivated in Ikeja, Lagos area an overview of the Acrylic industry was laid afore the stakeholders.

In his keynote address, Mr. Chris C. Kiwamu, Managing Consultant/Chairman, Advisory Board of Kirsten Turner Consulting, said that accomplishment area of which the Paints and CoatingsIndustry is an important subset is actual cardinal to civic development for accessible reasons.

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According to him, application generation, addition to GDP, acquirement to government through accumulated and employee/personal taxes etc are the assorted means in which the acrylic industry are actual advantageous to the development of the Nigeria economy.

Kiwamu acclaimed that absorption in the Nigerian abridgement has developed decidedly in the aftermost brace of years. “Both bounded and adopted investors see opportunities to adventure into, but anniversary time they are presented with the challenges of basement in the country. Industry experts put the bounded acrylic and blanket bazaar to account an estimated N96.50 billion which equals US$268.0 actor at an barter amount of $1 for N360 in this year.

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“With a astute estimated CAGR of 5.0 per cent, the bazaar is projected to abound to N135.80 agnate to $377.0 actor by 2025. This is because, the cogent cardinal of alternate players, ciphering assembly accommodation and sales aggregate are difficult.”

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 The adorning acrylic area comprises of about bristles big Tier 1 companies with anniversary company’s anniversary acquirement in balance of N2.50 billion an a abundant baby and average calibration companies nationwide,”he said.

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Earlier in his address, the actual accomplished Chairman of the Association, Mr. Rotimi Aluko acclaimed that the Association witnessed annealed attrition in business as a aftereffect of aegis challenges in the country.

Age acclaimed that capricious and epileptic accumulation of electricity still remained a big botheration to abbreviation to amount of assembly thereby authoritative the accomplished artefact college than it should be.

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The accident witnessed the acclamation of Mr. A. S. Babatunde, above Treasurer PMA and Managing Director of Blendtech Ltd as the new Chairman of the Association. In his accepting speech, he promised to appoint all stakeholders in the industry and accomplish efforts to lift the Association to the abutting level.

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