Ministry of Industry, Trade and Investment – Otunba Richard Adeniyi has decried the ₦800Billion Nigeria spent on importation of papers and paper products, saying it’s as unsustainable to the nation’s economy.
The Minister made this statement at the inauguration of a committee for the resuscitation of Nigeria paper industry, vowed that federal government would resuscitate the Nigerian paper industry.
He explained that the vision of the government in setting three major mills industry in the 70s and 80s was to build up platforms, taking advantage of the rich forest resources available in the country to enhance local capacity to meet with country’s demand for paper and paper products stressing that, “it is on record these industries were functional and operational until they were privatized”
He maintained that the Buhari Next Level Agenda was poised to reverse this ugly trend in the industry especially in its resolve and commitment to economic diversification of the country, stressing that, the committee has critical role to come up with innovative ideas towards the resuscitation of the industry.
The committee has the following terms of reference which included the following:
- To determine the conditions/terms under which the paper mills were privatized
- To assess the status of the mills since privatization
- To carry out due diligence of the privatized paper mills
- To interface with new prospective investors who have indicated interest in the paper mills
- To recommend measures for the resuscitation of the paper industry
- To liaise with relevant Ministries Department and Agencies (MDAs) on the need to propose sector specific incentives/concessions required to attract investments into manufacturing paper products in the country.
- To propose and recommend holistic measures for the resuscitation of the paper industry in the country.
The Minister read out the names of the committee members as follows:
- Edet Akpan – Chairman
- Adewale Bakare – Director IDD member
- Yusuf Adamu – Director Bureau of Public Enterprise member
- Onuorah C Francis – Deputy Director IDD member
- Iliya Saidu Kure – Deputy Directo BPE member
- Ajakaiye Adewale – SA/HM member
- Samaila M Yusuf – Assistant Director BPE member
- Abudullahi Abudullahi – Enterprise officer BPE member
The chairman of the newly inaugurated committee Mr. Edet Akpan in his remarks thanked the Minister for the new assignment and assured him of their commitment to ensure that all relevant persons and institutions are carried along in a bid to revive the paper industry.
The Director General, Bureau of Public Enterprise, Alexander okoh who was represented by the Director, Post Transition Management, Yusuf Adamu said all efforts would be channeled towards the resuscitation of the Nigerian Paper Industry to attract direct foreign investment