Lagos Strikes $75m German Deal


Nigeria’s commercial nerve center, Lagos, has defied economy recession as it is set to house a $75million German manufacturing firm which will commence operations soonest.

The company, Knauf Group, which produces building and construction tools, is expected to generate 25,000 direct employments upon completion and automatically boost the economy of Lagos State.

According to a member of the Knauf Group Management Committee, Isabel Knauf, the firm which presently has about 23 training centres globally where it imparts new skills and knowledge to no fewer than14,000 people annually was interested in doing same in Lagos with the plan to train at least 800 Nigerians in the first phase.

The proposed training centre in Lagos Knauf said would cost about two million Euros to establish and would focus on drilling, architecture, civil engineering and craftsmanship and how to technically install their products.

Governor of Lagos State, Mr. Akinwunmi Ambode who supported the business with land space for the training centre expressed delight and optimism at the initiative which to him was a positive indicator for the state in the face of economic woes.

The Knauf Group is one of the world’s leading manufacturers of modern insulation materials, dry lining systems, plasters and accessories, thermal insulation composite systems, paints, floor screed, floor systems, as well as construction equipment and tools.