A frontline pioneer aluminum extrusion company, Nigerian Aluminum Extrusion s Limited (NIGALEX) has unfolded a set of strategy to boost its operation, reinforce its competitive edge and put the company on the greater path of profitability.
Besides, the company has identified some of the problems militating against the manufacturers of aluminum products and appeals for immediate intervention by the Federal Government as a way of ensuring lasting solution.
Addressing journalists at the company’s Head Quarters in Lagos at the weekend, the Managing Director and chief Executive Officer, Mr Iyiola Ishola explained that the company was currently on the next phase of its expansion drive, business growth and re-positioning for optimal performance. I what amounted to a forecast of the company’s strategic plan in the next five year. Specifically, Ishola identified the efforts being put in place in order to move the company to the next level.
“We have commenced strategic popularization of our value through effective partnering with the press to create the needed awareness for the company’s products. We are ready to increase production output through our installed capacity of 7, 5oo tonnage per annum and develop requisite channels to sell these outputs. We shall embark on effective logistical plans to enhance operation 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.’ Ishola said.
In his clinical review of the operating environment, he pinpointed the challenges which have always impacted negatively on the operations of the companies in the sector such as low level of awareness of the major brands like NIGALEX, preference for cheaper but low quality products, unwholesome practices of some dealers and fabricators who substitute NIGALEX 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 enabling environment for the local industries was quick to appeal for more concerted effort to create enabling environment. For instance, he explained that the implementation of local content policy was long overdue 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. This approach should be to discourage the importation of any product where there is adequate capacity. With this in place, we should be able to conserve the scarce forex and reduce unemployment”. Ishola and some of his technical and management staff took the journalist on facility tour of the company’s multibillion extrusion press, the first of its type in West Africa. He explained that the company places premium on safety of its staff and prevention of environmental hazards as a good corporate citizen.