Economy

3D Technology: Global growth tops $20 billion in 2020 — Expert

Published

4 years ago

April 29, 2021

A printing technology expert, Mr Akinwole Akinpelu, has said that the worldwide 3D printing industry forecast recorded a rocketing growth of over 20 billion dollars against the projected 9 billion dollars in 2020.

Akinpelu, Managing Partner, Stampar 3D Limited, made this known at a webinar organised by the Lagos Chamber of Commerce and Industry (LCCI) themed: “3D Technology: “An Emerging Business Innovation” on Thursday.

Akinpelu stated that the worldwide projections had also superseded expectations year-on-year since 2014.

He explained that the 3D printing process is an additive manufacturing process where an object is made layer by layer from computer 3D model data.

Akinpelu stressed that additive manufacturing was not aimed at competing with manufacturing but to add value to the manufacturing processes and reduce turnaround time.

He added that the application of 3D technology to the nation’s education process from a tender age would help simplify otherwise difficult to comprehend subjects and learning.

“There is no sector or industry that 3D technology is not useful in; be it education, engineering, housing, printing and manufacturing.

“The manufacturing process includes the forming, joining and subtractive processes. What 3D technology does is that it adds as an additive manufacturing process to give better results to the sector,” he said.

Mr Felix Amaefula, Chief Executive Officer, Generative CAD Services, noted that Nigeria spent over two trillion naira annually importing tools and equipment which were be made possible by 3D technology skills and designs.

He noted that developing capacity in these areas over the next 10 years would save the nation about 30 trillion naira, create 100,000 new jobs and increase the nation’s Gross Domestic Product by 30 per cent.

Amaefula listed the challenges to scaling additive manufacturing in Nigeria to include low investment funding, limited machine capacity, low industry adoption, few experts and low collaboration between key experts and specialists.

He said that career opportunities in additive manufacturing included engineering, fashion, software developers, materials scientists, technicians, sales, marketing, education, writing, among others.

“The benefits of additive manufacturing are numerous, and the major benefits include faster production, unlimited shapes and geometry, very low start up costs, and lack of material wastage.

“We also look for synergy between specialists, experts in both private and public sectors to drive this automation and improve the manufacturing processes,” he said.

Mr Tunbosun Alake, Special Adviser to Lagos State Governor on Technology and Innovation, said the state government was committed to engendering a 3D technology process in the state.

This, Alake explained, was done by the training of young engineers on adoption and opportunities of 3D technology to enable them bring their processes to life through some test phases.

Alake said that the state government was currently expending efforts to increase automation of the entire land processing in Lagos to build and maintain an emerging economically vibrant trajectory of the state.

“Our journey has been digitizing data and digital set and making it accessible.

“Everything that has to do with the purchasing, speeding up and dealing of land matter would soon be a fully automated process.

“We are also looking to enable rapid prototype experts by providing vouchers to rapidly prototype their idea in hardware and manufacturing.

“Currently, we are talking to international partners to set up hardware labs to drive prototyping and we urge the private sector to come up with a framework that would drive the sector.

“If Lagos would proceed anywhere in the manufacturing space, it has got to be smart manufacturing,” he said.

Mrs Toki Mabogunje, President, LCCI, said that a contemporary discourse at this critical stage of the Nigerian economy on the role of technology in development cannot be over-emphasized.

She noted that over the years, 3D printing technology had been used for mass customization, production of open-source designs in the field of Agriculture, Health, Education, Automotive Industry, Locomotive Industry, and the Aviation Industry.

She stressed that the application of 3D printing in manufacturing sector could spur rapid growth within the sector and increase the Nigeria’s manufacturing GDP contribution as well as other sectors of the economy.

“The growth of 3D printing in Nigeria is expected to impact, not only on manufacturing, but also on the education sector.

“This technology brings to light a set of skills lacking in the Nigerian industrial setting, and the opportunity for new teaching practices in science and engineering programmes within our tertiary institutions.

“The emergence of 3D printing technology has the potential to transform businesses, geographical challenges, and entire supply chains.

“With less time to design and manufacture products; with minimum need for warehouses for inventory; with spare parts printed on demand; evidently, a great leap in our industrialization transformation is imminent.

“In the educational sector, 3D printing offers numerous benefits. These benefits include improving the students learning process as well as improving the teaching capabilities of the teacher. Hence the need to deploy 3D printing,” she said.

Economy

NNPCL has responded to queries on unaccounted N210trillion – Senate

Published

11 hours ago

October 8, 2025

Our Reporter

By Hassan Taiye

The Senate through its committee on Public Account declared Tuesday that the Nigerian National Petroleum Company ( NNPCL) , has responded to 19 queries raised against it in the Audit reports of 2017 to 2023.

The Committee had on the 29th of July this year , gave the Chief Executive Officer of NNPCL, Engineer Bayo Ojulari , three weeks to respond to the 19 queries on N210trillion yet to be accounted for, in the Audited account of National Oil Company .

Responding to questions from journalists at the close of plenary on Tuesday on whether NNPCL had responded to the queries or not , the Chairman of the Committee, Senator Aliyu Wadada ( Nasarawa West) said yes but explained that the responses were yet to be critically looked into .

He said : “While we were on recess, management of NNPCL wrote to the committee, requesting an extension of time to enable them compile data and respond comprehensively to the questions we raised — and we granted that request.

“They have since responded, and we now have answers to all 19 questions we sent to them.

“However, the report is yet to be presented before the committee. That is why, as chairman, I have refrained from making any public statement on the matter until it is properly laid before members.

“But let me assure you, as I promised earlier on behalf of the committee, we will do justice to the matter”.

He added that beyond the audited financial statements, there are other issues emerging around the NNPC.

According to him, the first of such issues is production sharing contracts — specifically, the production cost to Nigeria which must be clearly defined, and the public deserves to know what portion goes to the NNPC, what goes to the international oil companies (IOCs), and what accrues to the government under the production sharing arrangement.

“Furthermore, the committee has been informed that NNPC Retail has declared a loss.

“This development is also of concern to us and to the public. We find it difficult to understand why NNPC Retail should record a loss, but we will seek clarification when the corporation appears before us.

“As far as the audited financial statements are concerned — which cover the period between 2017 and 2023 — NNPC has submitted its responses to the 19 questions we asked. Nigerians and the media will be informed of the contents in due course.

“Out of those answers, the ones that make sense and those that do not will be evident to the public”, he stressed .

Economy

Nigerians to Pay More for Petrol as Fuel Prices Rise Nationwide

Published

1 day ago

October 7, 2025

Our Reporter

By: Fabian Apechihin

Nigerians are facing yet another spike in fuel prices as premium motor spirit (petrol) now sells for between ₦905 and ₦945 per litre across several filling stations in Abuja.

Checks on Monday, October 6, 2025, revealed that Nigerian National Petroleum Company Limited (NNPCL) retail outlets, along with Empire, AA Rano, and Shema filling stations, adjusted their pump prices upwards. Empire Filling Station in Gwarimpa reportedly sold petrol at the highest rate of ₦945 per litre.

Other stations, including MRS, Emedeb, Ranoil, and Eterna, dispensed petrol between ₦885 and ₦910 per litre.

Marketers Blame PENGASSAN Strike for Price Surge
The Independent Petroleum Marketers Association of Nigeria (IPMAN) attributed the sudden hike to disruptions caused by last week’s strike by the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN).

IPMAN President, Abubakar Maigandi, explained that the price increase was largely due to supply interruptions. He noted that stations receiving supplies from Dangote Refinery were still selling between ₦885 and ₦895 per litre, adding that prices were expected to stabilize soon.

“The feud between Dangote Refinery and PENGASSAN may have triggered panic buying and artificial scarcity. I can assure you that prices will drop and return to normal in the coming days,” Maigandi said.

IPMAN spokesperson Chinedu Ukadike also confirmed that the PENGASSAN strike caused temporary shortages in Lagos and Abuja but expressed optimism that availability would improve as supply chains normalize.

Depot Prices Edge Up
Depot prices have reportedly risen slightly, with Dangote Refinery selling petrol at ₦844 per litre, Ranoil and Aiteo at ₦845, and NIPCO at ₦850 in Lagos.

The fuel price increase comes just days after Dangote Refinery and PENGASSAN resolved their dispute over the alleged mass dismissal of Nigerian workers, which led to a two-day strike. Federal Government intervention helped broker peace between both parties.

Dangote Refinery later thanked President Bola Ahmed Tinubu and other mediators for their role in ending the strike.

Shettima, PENGASSAN Trade Words
Meanwhile, Vice President Kashim Shettima, speaking at the 31st Nigerian Economic Summit (NES31) on Monday, criticized PENGASSAN, declaring that “Nigeria is bigger than the union.”

In response, PENGASSAN President Festus Osifo countered, saying the country is also “bigger than Dangote Refinery and the presidency,” emphasizing the union’s commitment to protecting Nigerian workers’ rights.

Economy

Tourism wearing a new face in Kwara: Commissioner

Published

1 week ago

September 28, 2025

Our Reporter

Urges Kwarans, foreigners to embrace it Stephen Olufemi Oni, Ilorin

Kwara State Government has continued to showcase the beauty of culture and traditional assets and its uniqueness in the daily lives of the citizens, urging the people to embrace it for development.

The State Commissioner for Communications, Hon. Bolanle Olukoju, had earlier in a broadcast, enjoined the people of the State, at home and in the diaspora, to embrace tourism as a tool for developmental progress to sustain transformational growth in line with the policy thrust of Mallam AbdulRahman AbdulRazaq’s-led administration.

The Commissioner made the call to mark the 2025 World Tourism day with the theme, ‘Tourism and Sustainable Transformation’, as declared by the United Nation’s World Tourism Organization(UNWTO).

According to Olukoju, tourism is more than travel, it is actually a way of supporting people, culture, and the environment while driving economic growth, urging all and sundry to explore the various tourist sites around them.

“Tourism is not just travel, it is about building a future where every journey contributes to people, culture and planet, it is about hospitality that opens our heart and also helps to preserve our heritage and create opportunities for growth and development”, She said.

The Commissioner, who was delighted that the Ilorin Emirate Durbar was recently ranked among the top ten festivals in Nigeria, celebrated Hajia Faridah Shagaya, who was recognised among Africa’s top tourism personalities, describing the recognitions as sources of pride for the state.

She commended the administration of Governor AbdulRazaq for investing in tourism and hospitality, citing projects such as the Visual Arts Centre, Flower Garden, and Sugar Factory Film Studios, among others, as commendable efforts.

She also announced that this year’s celebration includes a roundtable with stakeholders to advance discussions on the future of tourism in Kwara State.

“Tourism is wearing a new face, from the Sugar Factory Film Studio, the Visual Arts Centre and the improved road network to Owu Waterfalls and many more which are evident of his work and is gradually opening Kwara to the World”, she added.

The Commissioner, who was represented at the event by the Director, Personnel, Finance and Supply, Hajia Salamat Yahaya, assured that tourism will continue to receive priority attention under the present administration and urged all stakeholders to support the ongoing efforts to make Kwara a leading destination for culture, heritage, and hospitality.

In her remarks, the Secretary, kwara State Hospitality and Tourism Development Board, Hajia Ramat Akanni, applauded the present administration for priority attention given to the Board.

Hajia Akanni expressed optimism towards an enviable tourism and hospitality driven state, which she assured, would attract prospective investors and enhance revenue generation for the state.

She sought support and utmost compliance from hoteliers and relevant stakeholders to achieve the desired goals, pointing out that violators will face the full wrath of the law.

Relevant stakeholders and participants at the one-day event later visited Sobi Hills and the Kwara Sugar Film Factory as part of activities marking the celebration.

End