Economy
With Epoxy, the Days of Floor Tiles are Numbered—Expert
By Dipo Olowookere
Leading provider of quality Epoxy services in Nigeria and West Africa, Alfomeg Epoxy Services says Epoxy is fast replacing the use of tiles and other outdated technology for swimming pools, flooring, walls in homes and offices in Nigeria.
According to the CEO and Head Engineer, Alfomeg Epoxy Services, Mr Michael Elikene, who spoke recently from his Lagos office, “There was a time when the use of tiles was fashionable and functional for homes and offices. When your swimming pools were decorated with it but today there is a more durable and in the long time, cheaper alternative in Epoxy.
“There was a time when tiling was the best choice for pharmacies and hospitals but that time has gone. The Epoxy technology is the better choice for homes, industries and pharmacies because it is more hygienic and durable.”
“There are two ways to look at this, the functional benefits and the aesthetic benefits. For the functional benefits – it cost less to use Epoxy technology over tiles in the long run. Tiles can break, and the sharp edges can cause bodily injuries at work or home, especially when children are involved. The gaps between broken edges on tiles can accommodate bacteria and other harmful microorganisms. To avoid these risks, opting for high-quality tiles like riad tile natural white zellige can enhance safety and hygiene. Not only do these tiles offer a smoother, more durable finish, but their handcrafted nature also adds a touch of elegance to any space, reducing the chances of harmful cracks and minimizing the risk of injuries or bacterial growth.
“For septic tank coating, it saves lives because the walls don’t easily cave in as a result of the chemical reaction of faeces which escape through the holes when you interlock tiles; insects and rodents complete the damage as the septic walls become perforated,” he added.
The aesthetic way of looking at this, Mr Elikene said, Epoxy is more durable until user decides either change the colour or design.
“You cannot customize tiles as most tiles are imported but with Epoxy you can customize it with your name, cartoon characters, your photograph or loved one’s photo.
“You can customize the children’s room to enable learning with alphabets (A,B,C), words, educational games, formulas, figures (1,2,3) and anything you want. Schools can use this for a more functional, beautiful and durable effect,” he noted.
Alfomeg Epoxy Services has a rich clientele but operates an ergonomic pricing system which allows it provide services to major corporations, government institutions and individuals who seek quality and durability. Sometimes you find visitors gazing at the finished floor or wall because it is glossy.
Alfomeg has serviced the Central Bank of Nigeria (CBN) Printing and Minting – Abuja FCT, Friesland Campina, Peak Milk (tank) – Lagos, Shell Pharmaceutical, Nemel Pharma – Enugu State, Juhel Pharma – Awka, Anambra State, Michelle Laboratories – Enugu, ECOMED Pharma – Sango Ota, Ogun State, Jopan Pharma – Ajao Estate Lagos State, New Age Pharma – Tawadada Abuja FCT etc.
Alfomeg has been providing Epoxy services across Nigeria and West Africa for over a decade and is noted for offering international standards.
By Modupe Gbadeyanka
The federal government has been asked by the Nigerian Bar Association (NBA) to suspend the implementation of the controversial tax laws.
In a reaction to the tax reform acts, the president of the group, Mr Afam Osigwe (SAN), the suspension of the laws would allow for a proper investigation into allegations of alterations in the gazetted and harmonised copies.
A member of the House of Representatives, Mr Abdussamad Dasuki, alleged that some parts of the laws passed by the parliament were different from the gazetted copy.
To address the issues raised, the NBA said it is “imperative that a comprehensive, open, and transparent investigation be conducted to clarify the circumstances surrounding the enactment of the laws and to restore public confidence in the legislative process.”
“Until these issues are fully examined and resolved, all plans for the implementation of the Tax Reform Acts should be immediately suspended,” the association declared.
It noted that the controversies “raise grave concerns about the integrity, transparency, and credibility of Nigeria’s legislative process.”
“These developments strike at the very heart of constitutional governance and call into question the procedural sanctity that must attend lawmaking in a democratic society,” it noted.
“Legal and policy uncertainty of this magnitude has far-reaching consequences. It unsettles the business environment, erodes investor confidence, and creates unpredictability for individuals, businesses, and institutions required to comply with the law. Such uncertainty is inimical to economic stability and should have no place in a system governed by the rule of law.
“Nigeria’s constitutional democracy demands that laws, especially those with profound economic and social implications, emerge from processes that are transparent, accountable, and beyond reproach. Anything short of this undermines public trust and weakens the foundation upon which lawful governance rests.
“We therefore call on all relevant authorities to act swiftly and responsibly in addressing this controversy, in the overriding interest of constitutional order, economic stability, and the preservation of the rule of law,” the organisation stated.
By Adedapo Adesanya
Demand for hot stocks, including MRS Oil Plc, buoyed the NASD Over-the-Counter (OTC) Securities Exchange by 0.52 per cent on Tuesday, December 23.
The energy company was one of the three price gainers for the session as it chalked up N19.69 to sell at N216.59 per share versus the previous day’s value of N196.90 per share.
Further, FrieslandCampina Wamco Nigeria Plc gained N2.95 to close at N56.75 per unit versus N53.80 per unit and Golden Capital Plc appreciated by 84 Kobo to N9.29 per share from Monday’s N8.45 per share.
Consequently, the market capitalisation went up by N10.95 billion to N2.125 trillion from N2.125 trillion and the NASD Unlisted Security Index (NSI) rose by 18.31 points to 3,570.37 points from 3,552.06 points.
Yesterday, the NASD bourse recorded a price loser, the Central Securities Clearing System Plc (CSCS), which gave up 17 Kobo to close at N33.70 per unit against the previous trading value of N33.87 per unit.
The volume of securities traded at the session went down by 97.6 per cent to 297,902 units from the previous day’s 12.6 million units, the value of securities decreased by 98.5 per cent to N10.5 million from N713.6 million, and the number of deals remained flat at 32 deals.
By value, Infrastructure Credit Guarantee Company (InfraCredit) Plc ended as the most actively traded stock on a year-to-date basis with 5.8 billion units exchanged for N16.4 billion. This was followed by Okitipupa Plc, which traded 178.9 million units valued at N9.5 billion, and MRS Oil Plc with 36.1 million units worth N4.9 billion.
In terms of volume, also on a year-to-date basis, InfraCredit Plc led the chart with a turnover of 5.8 billion units traded for N16.4 billion. Industrial and General Insurance (IGI) Plc ranked second with 1.2 billion units sold for N420.7 million, while Impresit Bakolori Plc followed with the sale of 536.9 million units valued at N524.9 million.
By Dipo Olowookere
It was another bullish trading session for the Nigerian Exchange (NGX) Limited as it closed higher by 0.59 per cent on Tuesday.
The market further rallied due to continued interest in large and mid-cap stocks on the exchange by investors rebalancing their portfolios for the year-end.
Yesterday, Aluminium Extrusion sustained its upward trajectory after it further appreciated by 9.96 per cent to N14.90, as Austin Laz gained 9.81 per cent to close at N2.91, Custodian Investment improved by 9.69 per cent to N38.50, and First Holdco soared by 9.35 per cent to N50.30.
Conversely, Royal Exchange declined by 7.22 per cent to N1.80, Champion Breweries shrank by 6.57 per cent to N15.65, NASCON lost 5.36 per cent to trade at N105.05, Sovereign Trust Insurance depreciated by 5.28 per cent to N3.77, and Japaul went down by 4.51 per cent to N2.33.
At the close of business, 29 shares ended on the gainers’ table and 27 shares finished on the losers’ log, representing a positive market breadth index and bullish investor sentiment.
This raised the All-Share Index (ASI) by 895.06 points to 153,354.13 points from 152,459.07 points and lifted the market capitalisation by N579 billion to N97.772 trillion from the previous day’s N97.193 trillion.
VFD Group finished the day as the busiest stock after it recorded a turnover of 192.0 million units worth N2.1 billion, GTCO exchanged 63.5 million units valued at N5.6 billion, Access Holdings traded 49.8 million units for N1.0 billion, First Holdco sold 45.8 million units valued at N2.3 billion, and Secure Electronic Technology transacted 38.3 million units worth N28.4 million.
In all, market participants bought and sold 677.4 million units valued at N20.8 billion in 27,589 deals compared with the 451.5 million units worth N13.0 billion traded in 33,327 deals on Monday, showing an improvement in the trading volume and value by 50.03 per cent and 60.00 per cent apiece, and a shortfall in the number of deals by 17.22 per cent.
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