The nation’s national steel consumption rate which is presently estimated at 2,000,000 MT annually is been meet through the recycling of metal scraps due to the fact that our mining sector in comatose thereby making demand exceed supply.
At Foraminifera Market Research we seek to expose this investment opportunity so that willing and capable investors can take advantage of it.
Metal scrap trading in Nigeria is very lucrative in the sense that the demand for the product outweighs the supply.
In Nigeria, the demand for metal scraps can be traced to the very increasing growth of building construction where they are used as steel bars. Approximately, about 70% of recycled metal product in Nigeria end up been used in the construction industry.
The business has been analyzed to be a huge source of income for traders due to its increasing demand by metal recycling companies.
The return on investment is about 10%-15%.