Business

The Importance of PVC in Your Building by Dennis Isong

Published

3 weeks ago

August 19, 2024

The Importance of PVC in Your Building by Dennis Isong

Polyvinyl Chloride (PVC) is a synthetic plastic polymer made from the polymerization of vinyl chloride. It is one of the most widely produced plastics in the world, known for its versatility, durability, and cost-effectiveness. PVC is composed of two basic building blocks: chlorine derived from industrial-grade salt and ethylene, which is obtained from petroleum or natural gas. The result is a highly durable and malleable material that can be manufactured in both rigid and flexible forms.

In its rigid form, PVC is commonly used in the construction industry for pipes, window frames, doors, and other structural applications. In its flexible form, it is used for a variety of purposes such as electrical cable insulation, flooring, and roofing membranes. Its resistance to environmental degradation, chemicals, and moisture makes PVC an ideal choice for many building applications.

How PVC Gained Popularity in Nigerian Buildings

PVC’s rise to prominence in Nigeria’s building industry can be traced back to the late 20th century, when there was a growing demand for affordable and durable construction materials. Prior to the widespread use of PVC, Nigerian construction largely relied on traditional materials such as wood, metal, and concrete, each of which had its own set of limitations.

Wood, while aesthetically pleasing, was susceptible to termites, rot, and warping, especially in Nigeria’s humid climate. Metal was prone to rust and corrosion, and concrete, though strong, was often expensive and difficult to mold into intricate shapes.

As the Nigerian economy began to grow, driven by oil revenues and urbanization, there was a push to modernize infrastructure and housing. PVC emerged as a solution to many of the challenges posed by traditional materials. Its versatility, affordability, and resistance to environmental factors made it an attractive option for builders and architects. The ability to mass-produce PVC products also meant that they could be made available to a broader market at lower costs.

PVC’s popularity further soared with the advent of PVC ceiling panels, doors, and windows, which became common features in Nigerian homes and commercial buildings. These products offered a modern look, were easy to maintain, and provided a practical alternative to more expensive materials. Over time, the use of PVC expanded to other areas such as plumbing, wiring, and interior finishes, cementing its place in Nigeria’s construction industry.
Importance of PVC

The importance of PVC in building construction cannot be overstated. Its role in modern architecture and construction has transformed the way buildings are designed and built. Below are some of the key reasons why PVC is so crucial in construction:

1. Cost-Effectiveness: One of the main reasons for PVC’s widespread use is its cost. Compared to traditional materials like wood, metal, and glass, PVC is relatively inexpensive. This affordability allows builders to keep construction costs down while still maintaining quality.

2. Durability: PVC is resistant to weathering, chemicals, and corrosion, which makes it ideal for use in harsh environmental conditions. Whether it’s the humid climate of Lagos or the dry heat of the northern regions, PVC products are built to last, reducing the need for frequent replacements.

3. Versatility: PVC can be molded into various shapes and sizes, making it suitable for a wide range of applications. From pipes and fittings to window frames and ceiling panels, the material can be used in almost every aspect of building construction.

4. Low Maintenance: PVC requires minimal maintenance. It does not need painting, polishing, or sealing, unlike wood or metal. This reduces the long-term costs associated with building upkeep.

5. Energy Efficiency: PVC’s insulating properties make it an excellent choice for windows and doors, helping to maintain indoor temperatures and reduce energy consumption in buildings.

6. Safety: PVC is a safe material for use in construction. It is fire-resistant and does not ignite easily. In the event of a fire, PVC products tend to self-extinguish, reducing the spread of flames.

7. Environmental Impact: Although PVC is a plastic, advancements in recycling technology have made it possible to recycle PVC products, reducing their environmental footprint. Many PVC manufacturers are now producing eco-friendly options that are made from recycled materials.
Advantages of PVC
PVC offers numerous advantages that make it an attractive choice for builders, architects, and homeowners alike:

1. Lightweight: PVC is much lighter than traditional building materials like wood or metal. This makes it easier to transport, handle, and install, reducing labor costs and construction time.

2. Water Resistance: PVC’s inherent resistance to moisture makes it an excellent material for use in plumbing and roofing applications. It does not rot or degrade when exposed to water, ensuring long-lasting performance in wet conditions.

3. Chemical Resistance: PVC is highly resistant to chemicals, acids, and alkalis, making it suitable for use in industrial applications where exposure to harsh substances is common.

4. Aesthetic Appeal: PVC products are available in a variety of colors, textures, and finishes, allowing builders to achieve the desired aesthetic look for their projects. Whether it’s a glossy finish for modern interiors or a wood-grain texture for a classic look, PVC offers endless design possibilities.

5. Noise Insulation: PVC’s insulating properties extend beyond just thermal insulation. It also provides excellent noise insulation, making it ideal for use in windows, doors, and walls to create a quieter indoor environment.

6. Recyclability: PVC is one of the few plastics that can be recycled multiple times without losing its properties. This makes it a more sustainable choice compared to other plastics, which often degrade in quality with each recycling cycle.

7. Flexibility: Flexible PVC can be used in applications where traditional rigid materials would not be suitable. This includes electrical cable insulation, flooring, and flexible piping.
Disadvantages of PVC
While PVC offers many advantages, it also has some drawbacks that should be considered:

1. Environmental Concerns: The production of PVC involves the use of chlorine, which can release harmful chemicals if not managed properly. Additionally, the disposal of PVC products at the end of their life cycle can pose environmental challenges, as they do not biodegrade easily.

2. Toxicity: When PVC is burned, it can release toxic fumes, including dioxins, which are harmful to both human health and the environment. This makes the improper disposal of PVC products a significant concern.

3. Limited Temperature Resistance: While PVC is resistant to many environmental factors, it has a limited temperature range. Exposure to extremely high or low temperatures can cause PVC to warp, crack, or become brittle.

4. Not as Strong as Metal: Although PVC is durable, it is not as strong as materials like steel or aluminum. For applications that require high structural strength, PVC may not be the best choice.

5. Plastic Appearance: Despite advances in design, some people still perceive PVC as having a “plastic” look, which may not be desirable for certain high-end or luxury applications.

6. Potential for Degradation: Over time, PVC can degrade when exposed to UV radiation from the sun. This can cause discoloration, brittleness, and a loss of structural integrity, especially in outdoor applications.

Conclusion
PVC is a valuable material in the building industry, offering a balance of cost, performance, and versatility. As the construction landscape continues to evolve, the use of PVC is likely to remain prominent, especially with ongoing advancements in recycling and sustainable production methods. Builders, architects, and homeowners must weigh the benefits and disadvantages of PVC to make informed decisions that align with their specific needs and environmental considerations.

For personalized assistance with your property needs, contact Dennis Isong, a top Lagos realtor specializing in helping Nigerians in the diaspora own property stress-free.

Contact: +2348164741041

Bank

GTCO Plc Releases 2024 Half Year Audited Results

Published

5 hours ago

September 11, 2024

Sahara Weekly

GTCO Plc Releases 2024 Half Year Audited Results

……. Reports Profit Before Tax of ₦1.004trillion

Sahara Weekly Reports That Guaranty Trust Holding Company Plc (“GTCO” or the “Group”) has released its Audited Consolidated and Separate Financial Statements for the period ended June 30, 2024, to the Nigerian Exchange Group (NGX) and London Stock Exchange (LSE).

The Group reported profit before tax of ₦1.004trilion, becoming the first Nigerian financial institution to cross the ₦1trillion mark in profit. This milestone figure represents an increase of 206.6% over ₦327.4billion recorded in the corresponding period ended June 2023. The Group’s loan book (net) Increased by 25.5% from ₦2.48trillion recorded as at December 2023 to ₦3.11trillion in June 2024, while deposit liabilities grew by 39.8% from ₦7.55trillion in December 2023 to ₦10.55trillion in June 2024.

The Group recorded growth across all its asset lines and continues to maintain a well-structured, healthy, and diversified balance sheet across all jurisdictions wherein it operates a Banking franchise as well as across its Payments, Pension and Funds Management business verticals with total assets and shareholders’ funds closing at ₦14.5trillion and ₦2.4trillion, respectively. Capital Adequacy Ratio (CAR) remained very robust and strong, closing at 21.0%, while asset quality was sustained as evidenced by IFRS 9 Stage 3 Loans which closed at 4.3% in June 2024 from 4.2% in December 2023 and improvement in Cost of Risk (COR) to 1.6% from 4.5% in December 2023.

Commenting on the results, the Group Chief Executive Officer of Guaranty Trust Holding Company Plc, Mr. Segun Agbaje, said: “We are immensely proud of the progress we have made as a leading financial holding company. Despite the uncertainties in the operating environment, our performance in the first half of the year, where we recorded our highest profit to date, is a testament to the resilience and adaptability of our business model. We remain optimistic about the future and are committed to leveraging our unique strengths as a thriving financial services ecosystem to create sustainable value for all our stakeholders as we continue to position all our business verticals–Banking, Funds Management, Pension, and Payments–for rapid growth across key markets.”

Overall, the Group continues to post one of the best metrics in the Nigerian Financial Services industry in terms of key financial ratios i.e., Pre-Tax Return on Equity (ROAE) of 103.6%, Pre-Tax Return on Assets (ROAA) of 16.6%, Full Impact Capital Adequacy Ratio (CAR) of 21.0% and Cost to Income ratio of 16.7%.

GTCO Guaranty Trust Holding Company Plc is the ultimate holding company of the GTCO Plc Group, one of the largest financial services institutions in Africa. Headquartered in Lagos, Nigeria, Guaranty Trust Holding Company Plc maintains direct and indirect investments in a network of operating entities located in 10 countries across Africa and the United Kingdom. GTCO’s leadership in the banking industry and efforts at empowering people and communities has earned it many prestigious awards over the years. Guaranty Trust Bank is a Twelve-time winner of Euromoney’s Best Bank in Nigeria award and was recently named Nigeria’s Strongest Brand and Best Banking Brand in Nigeria by Brand Finance and Global Brands Magazine, respectively.

Business

Why you should Patronize Bionz kitchen

Published

9 hours ago

September 11, 2024

Sahara Weekly

Why you should Patronize Bionz kitchen

Arguably, Bionz kItchen based in Port Harcourt is not your regular restaurant. Owned and run by delectable chefbion, it’s the haven for tasteful and delicious meals delivered at your doorstep.

Bionz kitchen is a specialist is any kind of local and intercontinental dishes. They also do food tray known as love tray, Lunch packs, family size meal( bowls) event catering both indoor and outdoor.

Their top notch meals delivery has endeared them to celebrities and dignitaries. Of a truth, when you try their meals you will understand the difference from the regular.

Business

Dangote Refinery: Where National Interest Supercedes Personal Gain

Published

2 days ago

September 10, 2024

Sahara Weekly

Dangote Refinery: Where National Interest Supercedes Personal Gain

By Best Agbese

The Dangote Refinery and Petrochemical Company, located in Lekki, a suburb of Lagos, is seven times the size of Victoria Island, another high-end area in Lagos State. The refinery boasts of more than 350 concrete bridges, a port for oil vessels, and approximately 5,000 neatly built apartments for its staff. The refinery also incorporates the largest granulated urea fertilizer complex in Africa and sits on 500 hectares of land.

Considering the gigantic scale of the newest refinery in the world, it would be apt to submit that Alhaji Aliko Dangote, the founder and CEO of the Dangote Group, is the epitome of courage, resilience, and patriotism. His readiness to contribute to the overall development and growth of the nation’s economy is evident in his numerous impactful interventions at critical moments in our nationhood.

Sincerely speaking, it takes great courage for an individual to envision a world-class gigantic project like the Dangote Refinery. In his case, Aliko Dangote not only visualized the possibility of constructing one of the world’s largest refinery plants but also saw it through to realization. For a businessman and entrepreneur to venture into such a capital-intensive project in an unpredictable business environment marked by policy flip-flops and unhealthy politicization is quite remarkable.

Only a patriotic investor who is deeply committed to the unity and economic growth of his country can attempt such a bold step. With this historic move in the oil sector, Aliko Dangote stands alone in the pantheon of patriotic business leaders in Nigeria.

One very notable fact is that the rising price of petroleum products in Nigeria has resulted in significant hardship, particularly for the average Nigerian. While the current hardship caused by the fuel subsidy removal, intended to address long-term economic challenges, has had a detrimental impact on many, the immediate effect of the subsidy removal policy has further exacerbated the wealth gap between the rich and the poor.

In the context of this harsh reality, one can conclude that the Dangote Refinery and Petrochemical Company represents a glimmer of hope for Nigerians. As one of the largest refineries in the world, located in Nigeria, the refinery has the potential to refine petroleum products locally, eliminating the need for costly imports that have reduced Nigeria to a “beggar nation” over the past decades.

Local production of Premium Motor Spirit (PMS) could reduce pricing, as there would be no need to factor in high landing costs associated with fuel importation. The Dangote Refinery, at full capacity, will process 650,000 barrels of crude oil daily, making it competitive with the United States’ largest refinery and over 50% bigger than the largest refinery in Europe.

Although the refinery is intended to refine domestically produced crude to bolster the heavily oil-dependent local economy, which has been marked by crises in recent times, it also can refine foreign crude. While the exit of Shell Exploration Company and other major international oil companies from the domestic market may pose challenges for the Dangote Refinery in terms of crude oil supplies and achieving its goal of changing the narrative in the nation’s oil sector, it is also important to acknowledge that the sheer scale of the Dangote Refinery will nonetheless turn Nigeria into an “oil market juggernaut”.

According to a recent New York Times report, although the refinery has yet to debut in the domestic and international market space, the Dangote Refinery is already making waves in the global market and has affected major market indicators and determinants. Aliko Dangote, the billionaire Nigerian businessman who spearheaded the refinery’s construction and development, is well aware of the challenges facing the nation’s oil and gas sector.

He has repeatedly reiterated his commitment to driving the troubled sector towards efficiency and reliability. His mission is to make a positive impact on the capacity and fortunes of local refineries across the country. To many, including cynics who doubted that an individual could successfully build one of the world’s largest refineries, the knowledge of the refinery’s impact on the global energy index must have generated a highly positive response.

It is noteworthy that the Nigerian economy, which has experienced slow growth over the last 20 years, is set to witness a dramatic turnaround in the coming months. The positive impact of the Dangote Refinery on the nation’s economy will translate to a better standard of living for every Nigerian. It will reflect directly on Nigeria’s foreign reserve, reducing pressure on the Naira and stabilizing commodity and fuel prices.

Certainly, the Dangote Refinery and Petrochemical Company is a game-changer for Nigeria, meeting domestic needs and producing a surplus for export. Already, the refinery has resumed production of high-quality Premium Motor Spirit (PMS), which is set to enter the domestic market. Aviation fuel and other products are expected to be rolled out into both domestic and international markets within September.

Candidly, Aliko Dangote has put many naysayers to shame. They were wondering how possible it would be for an individual to accomplish what a country or a continent could not achieve. In a nutshell, the Dangote Refinery and Petrochemical Company symbolizes not only the strength and potential of Nigeria’s industry but also the dedication, patriotism, and vision of one of Nigeria’s most esteemed business leaders, Alhaji Dr. Aliko Dangote.

Therefore, it is succinctly true to admit with all sense of patriotism that although Aliko Dangote is not a saint, he has given Nigerians something to be proud of as a country. The Dangote Refinery and Petrochemical Company may become what Toyota is to Japan and what Citroen is to France – a brand and a source of pride.

Agbese is an oil and gas expert based in Dundee, United Kingdom.