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The Printing and Publishing Group of the Lagos Chamber of Commerce and Industry (LCCI) is partnering with Ogun State to establish a paper mill.
Group Chairperson Mrs. Layo Okeowo said this when her team visited the state’s Ministry of Industry, Trade and Investment. Okeowo said LCCI had indicated interest in investing in the paper mill value chain in the state. She sought the allocation of 20 hectares of land from the government as its equity contribution toward establishment of a modern and functional paper mill.
According to her, the demand for paper and related products in Nigeria has grown to more than three million metric tonnes annually. She added that the installed production capacity had stagnated at 200,000 metric tonnes, thus making importation of raw materials and finished products inevitable. “According to investment analysts, 4.3 million worth of investment machinery can produce 100 metric tonnes of paper per day,” she noted.
Okeowo added that paper products were being imported with scarce foreign exchange to meet the country’s current demands due to inadequate capacity, weak production and lack of enough investment in the sector. She added: “LCCI’s plan to establish a modern and functional paper mill in Ogun is in line with the actualisation of the industrialisation agenda and the public private sector partnership framework of the government.
“The establishment of the paper mill will create opportunities for inclusive economic participation as well as engender direct and indirect jobs. It will also support the revenue drive of the government by facilitating income and wealth creation, which will sustain the economic development outcome. It will also bolster the industrial profile of the state as the industrial hub of Nigeria.”
Commissioner for Industry, Trade and Investment Mrs. Kikelomo Longe thanked LCCI for its resolve to partner with the government by establishing the firm in the state. She assured the group of government’s assistance in ensuring that the business thrived. According to her, the setting up of a paper mill will further strengthen the relationship between Lagos and Ogun states, and create job opportunities.
(thenationonlineng.net)
