Business
What You Should Know About Boats Building And Why It’s Profitable
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.
Business
NAFDAC’s Ban on sachets alcohol: Is Govt ready to take the heat?
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
The Manufacturers Association of Nigeria (MAN) has said that the government’s move to ban the production and sale of alcoholic beverages packaged in sachets and small PET bottles, effective December 31, 2025, will have severe repercussions on the economy.
” This announcement by the NAFDAC, in our view, is counterproductive and threatens to disrupt the economy significantly at a time when it is beginning to stabilise,” said the Association through its Director-General, Ajayi-Kadir.
The Association emphasised that the ban would likely lead to the “Loss of over N1.9 trillion in investments, primarily from indigenous Nigerian companies.
• Mass retrenchment of over 500,000 direct employees and approximately 5 million indirect employees through contracts, marketing, and logistics.”
Ajayi-Kadir said that the earlier directive from the Ministry of Health for a one-year extension, which included the consideration and validation of the draft National Alcohol Policy by stakeholders, should have been taken into account before any significant announcement from another government body.
“We believe that a consultation with whether through a public hearing or focused meetings with relevant parties in the alcohol beverage industry, should have been conducted by the appropriate Senate Committee before an outright ban was imposed.
This approach was successfully followed by the House of Representatives in the recent past,” he stated.
Ajayi-Kadir highlighted that issues related to the ban on alcohol in sachets and small PET bottles were addressed by a broad committee that included all stakeholders, along with NAFDAC representatives, who validated the National Alcohol Policy in October 2025. The committee made the following key recommendations:
• Develop multi-sectoral action plans.- Strengthen enforcement by law enforcement agencies
• Establish licensed liquor stores/outlets in Local Government Areas nationwide.
• Increase monitoring and compliance checks by NAFDAC, FCCPC, and others to ensure product quality and safety.
• Regulatory bodies should focus more on regulation, monitoring, and educational campaigns to inform stakeholders and the public about the dangers of underage alcohol consumption and its sale in motor parks.
• Conduct educational campaigns in secondary schools across the country to raise awareness among students about the dangers and issues related to alcohol abuse.
Furthermore, we would like to note that the unfounded and untested claim of abuse by minors has been challenged by several independent studies conducted by the government.
The industry has proactively launched campaigns promoting responsible alcohol consumption to discourage underage abuse, resulting in expenditures exceeding one billion Naira on media outreach across the nation, which has effectively just underage drinking.
Ajayi-Kadir also stressed that the Senate’s directive for an outright ban is unjust and does not reflect the industry’s true conditions, as it seems the upper chamber has only considered NAFDAC’s perspective.
NAFDAC was part of the validation organised by the Ministry of Health, and it should have presented its views to the Committee and the Ministry during that process, rather than circumventing these channels and approaching the National Assembly without consulting other stakeholders.
Business
Following Lagos, FG moves to ban single-use plastics
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
The Federal Government has commenced the process to ban single-use plastics, inaugurating a committee to steer the policy.
Lagos government began fully enforcement ban on single-use plastics (SUPs), including styrofoam packs, plastic straws, disposable cups, plastic cutlery, and nylons less than 40 microns thick, on July 1, 2025.
The Office of the Secretary to the Government of the Federation (SGF) , yesterday , set up an Inter-Ministerial Committee on the Ban of Single-Use Plastics (SUPs).
Earlier, the Federal Executive Council (FEC) during its meeting on June 25, 2024, approved the ban , specifically targeting Polyethene Terephthalate (PET) bottles, styrofoam food packs, plastic shopping bags, sachet water packaging, and plastic straws.
In his inaugural address, the SGF, George Akume, stated that the initiative aligned with Nigeria’s commitment to global environmental standards.
He said: “The FEC decision was in line with the Federal Government’s efforts to tackle various health and environmental challenges, especially those caused by single-use plastic products and therefore, approved the ban in the country of polyethene terephthalate (PET) bottles, styrofoam, plastic bags, sachet water and straw, which has become an environmental sanitation challenge.”
Business
UBA commits $102m direct investments in Chad’s securities
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
•Oliver Alawuba, GMD UBA
United Bank for Africa (UBA) Plc has announced a $102 million direct investment in the State of Chad’s securities in an efforts to strengthen economic growth and financial inclusion across Africa.
The announcement was made by UBA Group Managing Director/Chief Executive Officer, Oliver Alawuba, during his keynote address at the UAE–Chad Trade and Investment Forum held on Monday, November 10, 2025, in Abu Dhabi, United Arab Emirates.
Themed “Financing African Competitiveness – Building Bridges, Powering Progress,” the forum highlighted investment opportunities under Chad’s $30 billion Tchad Connexion 2030 development blueprint.
According to Alawuba, the $102 million investment underscored UBA’s confidence in Chad’s economic potential and demonstrates its long-term commitment to financing sustainable development on the continent.
“At UBA, our commitment is two-fold: we are both architects of national infrastructure and champions of grassroots financial inclusion,” he said. “Here in Chad, this is not a promise; it is a proven track record.”
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