The global paper industry is projected to rise to $370 billion by 2029 on the back of rising population, demand for education and sustainability goals.
According to the Chief Executive Officer of the Centre for the Promotion of Private Enterprise , Dr Muda Yusuf, the growth in digital technology has greatly disrupted the sector, especially as a mode of communication. “Regrettably, by the early 90s, all the paper mills packed up. Soon after, they were privatised. But the situation became worse as the privatisation could not save the situation but accelerated the collapse of the mills, with allegations of asset stripping and other adverse developments post privatisation.”
“We have the manpower, the forests and the capacity to grow the sector but yet, nothing. This sector has good prospects but needs the right policies to aid its growth. However, the environment in which we operate does not have the macroeconomic or infrastructural support that will aid its growth,” he said.