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What You Should Know About Boats Building And Why It’s Profitable

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For thousands of years, people have been using boats as a means of traveling, trading, and even for sports on water.

But how are boats built? What are the raw materials and tools for building boats? Again, how long does it take to build a boat, and what of the apprenticeship scheme?

Mr AGOSU MATTHEW, a local boat (also called canoe) builder at Badore waterfronts fishermen’s settlement,  Ajah Town in Lagos State, shares the answers with our Editor, Franklin Ocheneyi.

Happy reading:

Tell our readers about yourself.

My name is Agosu Matthew. I am a skilled boat builder. What motivated you to go into building boats?

First, I started as a fisherman. As time passed, I thought deeply about what else I could do to enhance my income from the fishing business.

I consulted with some of my co-fishermen. They advised that I go into boat building, which is an extension of the business.

How long have you been building boats?

I started 25 years ago.

It took me 14 years to acquire the skills, up to 2013, when I graduated from my master.

What are the tools for boat building?

The traditional tools include hammer hammer, axe, nails, Cutlass, and scissors, etc.

What about the woods?

We use the following woods: Opepe, Eru, Agboin, Afara, and parateru

Where do you get these woods?

Makoko at Lagos Island, and Itamagba sawmills market at Ikorodu.

How many pieces of wood make a boat?

It depends on the size of the boat.

For a big boat with 8-10 passenger capacity, we use about twelve pieces of wood.

The small boat takes between 6-7 pieces of wood.

How long does it take to build a boat?

Mr Agosu Matthew at work with his apprentice.

Again, it depends on the size of the Canoe.

Big boat takes up to two weeks if it’s only me working on it without the support of my apprentices, and if I don’t allow other things to distract me from the work.

However, if I have enough hands, it makes the construction faster and the work can be done in seven days.

What are the challenges of the business?

There are many challenges. One of them is getting the modern tools.

I rent those tools we don’t have and because of the pressure to return them within a specific hours, it slows down the pace of the construction and the timely delivery of the project.

Nevertheless, with the introduction of modern tools, the training patterns have changed. So, if an apprentice is humble, focused, brainy, and sharp, he can use four years to acquire the skills.

How is the boat market, in terms of patronage?

An aerial view of the community/ Ohi baba.com image.

People come to buy, or place orders when their boats is spoiling.

These locally made boats last for five years before spoiling.

Sometimes, we sell two boats in a month. The price of a boat is costly. We sell the big boat at N500 thousand, while the small one goes for N300 thousand.

How long does it take to learn the work?

As I said earlier, it took me 14 years to learn under my Master’s.

It took me that long because I had no financial support from anyone.

Nevertheless, with the introduction of modern tools, the training patterns have changed. So, if an apprentice is humble, focused, brainy, and sharp, he can use four years to acquire the skills.

Last, do you have an association for boat builders?

Yes; we have an association at Ikorodu. I belonged to the association ( That’s my membership ID card). The association has a lawyer, and if any challenge should arise, our chairman is the first person to know.

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NRS Chair: New tax laws won’t be implemented until January

According to Adedeji, the Federal Inland Revenue Service, FIRS by the signing of the bills into Law is now the Nigeria Revenue Service (NRS), explaining that the new law now defines the NRS’s expanded mandates…

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•President Bola Tinubu shake hands with NRS Chairman, Zach Adedeji.

The Chairman of the Nigeria Revenue Service (formerly FIRS), Zach Adedeji, has disclosed that the implementation of the newly signed four tax fiscal reform laws will commence by January 1st, 2026.

Adedeji told State House correspondents shortly after the President signed the bills into law, the previous day.

Adedeji said that the modalities will be put in place ahead of the implementation.

Adedeji further explained that the six-month period between the enactment of the new fiscal laws is designed to give ample time to those saddled with the implementation to carefully prepare and ensure that all Nigerians are adequately sensitised.

According to Adedeji, the Federal Inland Revenue Service, FIRS by the signing of the bills into Law is now the Nigeria Revenue Service (NRS), explaining that the new law now defines the NRS’s expanded mandate, including non-tax revenue collection, and lays out transparency, accountability, and efficiency mechanisms.

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President Tinubu List Economic Expectations from New Tax Laws

On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.

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President Bola Tinubu said today that the four tax reforms bills he signed into law reflect his administration’s resolve to create a modern, transparent, and efficient tax system capable of supporting national development, promoting investment, and reducing the burden of multiple taxation on citizens.

President Tinubu explained that the laws would be unifying Nigeria’s fragmented tax system, remove redundant overlaps, boost investor confidence, enhance transparency, and promote coordinated efforts across all levels.

He also described the legislation as a clear departure from previous policies, emphasising that the reforms are designed to ease the burden on working families, small businesses, and low-income earners while eliminating inefficiencies that have long plagued Nigeria’s fiscal structure.

On his verified X handle @officialABAT, the President had said that the new tax laws form the groundwork for the Nigeria of tomorrow, focused on unlocking opportunities for all.

“We are also building a framework for the Nigeria of tomorrow-leaner, fairer and laser focused on unlocking opportunities for all,” he said.

He added : ” These reforms go beyond streamlining tax codes. They deliver the first major, pro-people tax cuts in a generation, targeted relief for low-income earners, small businesses, and families working hard to make ends meet.

Designed to overhaul Nigeria’s fiscal and revenue administration framework, the laws which have been described as a major leap in the nation’s economic reform drive.

“For too long, our tax system has been a patchwork-complex, inequitable, and burdensome. It has weighed down the vulnerable and shielded inefficiency. That era ends today.”

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Tinubu signs four Tax Reform Bills to law today

The bills were recently passed by the National Assembly following extensive stakeholders consultations and technical reviews.

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President Bola Ahmed Tinubu will today (Thursday) sign into law four tax reform bills set to overhaul Nigeria’s fiscal landscape, streamline tax administration, and boost investor confidence.

The ceremonial signing is scheduled to take place at the State House, Abuja.

In a statement , Bayo Onanuga, Special Adviser to the President on Information and Strategy, said that the four bills are : the Nigeria Tax Bill, Nigeria Tax Administration Bill, Nigeria Revenue Service (Establishment) Bill, and the Joint Revenue Board (Establishment) Bill

The bills were recently passed by the National Assembly following extensive stakeholders consultations and technical reviews.

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