At the 25th anniversary celebration of Prince Interior Furniture Company Limited in Abuja, Managing Director Prince Emeka Egwuekme highlighted the vast, untapped potential of Nigeria’s wood sector. He emphasized that this sector could become a major economic driver for the country, even surpassing oil in revenue generation.
Prince Egwuekme noted that Nigeria is richly endowed with high-value wood species like Iroko, Mahogany, and Cedar. These woods command impressive prices in international markets, with a single cubic meter valued at up to $900. He called the wood sector a “goldmine” capable of creating jobs, boosting exports, and transforming Nigeria’s economy.
Recognizing the need to harness this potential, Prince Egwuekme announced the upcoming launch of a world-class furniture training institute. In partnership with German and Austrian organizations, the institute aims to train 2,000 Nigerians annually in furniture making, wood processing, and other artisan skills such as carpentry, plumbing, and welding. The initiative is designed to equip young Nigerians with in-demand, globally competitive skills while also strengthening the local industry.
With over 25 years of growth, Prince Interior has expanded from a modest workshop into a thriving business with 169 employees and 700 trained professionals. Egwuekme urged the government to invest in the wood sector and support initiatives like the institute to ensure sustained growth and global relevance.
