While wondering around online, we saw something of possible value to share with investors. The statement below by a Nairalander called waldigit suggests that wood is now ‘as expensive as steel in Nigeria’ due to ‘a lack of private investment in forestry’. We decided to share: as you might want to investigate for possible investment.
Note: We found it in a topic where someone was advocating for greater use of wood in building houses, while another pointed out that wood has the disadvantage of easily catching fire…
So, here goes:
Where are the woods? They have gone into almost extinction. Timber felling in remnant forest reserve now being rationed, wood is getting closer to steel now in terms of cost weight for weight. I just completed High pitch roofing of a modern designed roof for 3 bedroom in Lagos now with close to 400k only on woods alone. We don’t have private investment in forestry. The existing stock majorly owned by government is being depleted.