We have one sector that is BEATING tech: lumber. It is ahead by 70% year to date (YTD). Yes, as families look for larger homes since homes are now extended offices, there is an emerging boom on the use of lumber. While I do not know how that is playing out in Lagos, one thing is evident: Work from Home (WFH) policy is not a bonanza from your company, it is evolving as a strategic business call which will help companies improve the efficiency of the utilization of factors of production. Imagine the “miracle” when rent payments disappear in financial statements!
Sure, I do think it is an illusion to expect some men to give up the fun of letting you know they are in charge, physically! The virus will pass, the clock-in will begin: Zoom makes everyone appear equal, not sure some men are paid to accept that! Yes, you must be reminded that this part of the canteen is for “senior staff” because hunger attacks them differently in Nigeria.
But right now, lumber is running the numbers.
As economies struggle to recover in the pandemic and U.S.-China tensions flare, investors piling into precious metals may be overlooking another potential haven: wood.
Lumber futures have doubled since early April and are level pegging with silver as the top-performing major commodity this year. Surprisingly, wood is even outshining gold — the go-to haven investment.
While lockdowns and stay-in-place restrictions were expected to curb demand for building materials, North Americans stuck inside decided to spend money and renovate their homes just as aggressive production cuts tightened supplies.
1. Advance your career with Tekedia Mini-MBA (Sept 13 – Dec 6, 2021): 140 global faculty, online, self-paced, $140 (or N50,000 naira). Click and register here.
2. Click to join Tekedia Capital Syndicate and own a piece of Africa’s finest startups with a minimum of $10,000 investment.3. Register and join me every Saturday at Business Growth Playbooks w/ Ndubuisi Ekekwe (Sept 4 – Oct 23, 2021), Zoom, 4pm WAT; costs N20,000 or $60.