PEOPLES DAILY, WEDNESDAY, AUGUST 8, 2012
PAGE 27
Steel Building Technology Arrives Nigeria
By Udenna Orji
N
igeria's housing industry is about to rise a notch higher with the entry into the country of the revolutionary SteelMaster Building Systems. Considering Nigeria's housing deficit now put at over 16 million units, and the worrisome scarcity and high cost of building materials especially cement, individuals, corporate organizations and government institutions will no doubt find the beauty, strength, longevity and diverse applications of SteelMaster building systems highly functional, irresistible and costeffective. Represented in Nigeria and all of West Africa by housing technology giant, Steel-Tech Projects Ltd, SteelMaster building systems are manufactured by SteelMaster, an American company supplying the highest quality prefabricated steel buildings across the globe for over 28 years. These unique aesthetically inviting steel buildings are located in every state in the Unted States and on 6 continents and in over 40 countries. The company is the most reliable and largest global producer for steel arch buildings and roofing materials. The construction of SteelMaster building systems is fast, simple and very efficient. SteelMaster steelbuildings, metal buildings and prefabricated buildings are designed for a broad range of residential and commercial uses including garages, carport, workshops, agricultural storage, airplane hangers, government buildings, military buildings, commercial buildings, roofing systems, batting domes, retail
stores, architectural, athletic facilities, specialty buildings, Industrial storage buildings, housing, custom buildings, green buildings, commercial warehousing etc. According to the managing director of Steel-Tech Projects Ltd, Mr. Agodi Kanu, "the beauty of it all is that its maintenance-free. You don't have to treat it, paint it or maintain it. With a steelmaster, you just enjoy it. The Galvalume-Plus coating provides years of maintenancefree use. The sizes are customizable to your specific needs".
Kanu who is a respected name in the housing technology market noted that SteelMaster Metal Workshops are globally sought-after by all types of professionals including woodworkers, metalshop owners, classic car professionals, healthcare experts, oil and gas industry operators as well as numerous types of businesses around the globe. "SteelMaster workshops, prefabricated workshops and metal shops are the perfect place to organize, store and protect your valuable tools and machinery as well as provide comfort, security and durability against
fire, hurricane winds, snow and other destructive weather elements. With 100% usable space, you have the flexibility to truly customize the inside of your shop. You can easily hang lighting, run conduit, build shelving, add a loft, insulate and/or heat/cool your building", Mr. Kanu said. Steel-Tech Projects Ltd will also be coming to Archibuilt with DuraRoof, steel-based roofing tiles (silicacote and stone coat). Each DuraRoof covers a wide area and is very light which means that installation is quick and easy. It requires less support timber
so there are considerable savings of materials, time and money. DuraRoof allows builders to invest their money in the roof and not the structure. It is completely weatherproof and maintenance-free, saving you time, inconvenience and money in the future. Perhaps to consolidate its reputation as a housing technology giant, Steel-Tech Projects Ltd will also arrive Archibuilt with high-tech battery and solar-powered gate systems that open and shut gates on their own, without the help of humans.
Poor insurance penetration hindering mortgage development in Nigeria
T
he financial challenges hindering the development of Nigeria's housing sector have been blamed partly on the low level of insurance penetration and
Managing Director, FMBN, Mr. Gimba Kumo
awareness in the country. The Managing Director of Union Assurance Company Limited, Mr. Godwin Odah who made this known in a statement issued to newsmen said no economy could successfully thrive without a vibrant insurance sector which would breed entrepreneurship that would lift the housing sector. Odah described insurance as a mechanism for mobilizing funds, adding that housing remained scarce because there were no funds. "We need long term funds, which is what life insurance provides", Odah said. The Union Assurance boss said that at the moment, there was acute shortage of long-term funds which should ordinarily be available to entrepreneurs to grow the economy because Nigerians have yet to buy into life insurance as a natural way of saving for their long-term
needs. "Life insurance comes in the category of 5, 10 and 15-year plans and so on. If a sizable number of Nigerians, with the country's huge population, invests just a small proportion of their income in insurance, the economy will expand because the money will be made available to investors who can then grow their businesses on long-term basis," Odah explained. According to him, funds at the disposal of banks are shortterm in nature and most times, have a maximum tenor of 90 days before the owners will come calling and "with this condition, banks can only lend short-term at high interest rates that are largely a disincentive to the entrepreneur in the real estate business. But the situation will be better if banks had insurance life funds." Odah said it was not possible
to achieve sustainable expansion in the housing sector without mortgages which he explained would be easier if the insurance component was available to make the dream of housing for all a reality. "The insurance component takes care of the initial deposit required by the mortgage firms. But because insurance companies are backward in terms of patronage of life products, these long-term funds are not available for development. Pension funds, which are another component of insurance, have generated within a short period, about 2 trillion naira. Talks are ongoing to develop a framework for investment of the money for infrastructural development and in other sectors. This is a demonstration of what life insurance funds can do for national development", Odah said.