Entrepreneurial Opportunities in the Production of Building Materials

Abstract

An aspect of an operational nation building would be a country that has a sustainable construction industry whereby it is self-sufficient in the production of its building materials, but that is not the case. The aim of this study was to assess the entrepreneurial opportunities in the production of Building materials. A literature review approach and desk study using secondary data of net income (Profit after tax) during the period 2010 – 2014 of eight (8) building materials companies, publicly listed on the Nigerian Stock Exchange (NSE) were used for the study. From the study, it is evident that there are entrepreneurial prospects in the Housing and infrastructural needs, Maintenance and repairs, need for quality building materials to avoid Building collapse. These entrepreneurial opportunities gives room for huge production of Building materials such as cement, paint, tiles and steel reinforcement. In conclusion, there is a dire need for investment in the production of building materials locally rather than the heavy reliance on importation. In this exasperating times when oil prices have dwindled, the study calls for diversification to other sector. It was recommended that internally and international short term loan acquisition schemes supported by the federal government should be made available to entrepreneurs in production of building materials. Allied facilities such as improved power sector and material protection policy on imported building materials should be fast tracked.

Keywords: building, entrepreneur, opportunities, production, materials