Nigeria missing out on $360b pulp, paper market

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Nigeria Newsprint Manufacturing Company,Pulp/Paper Market,Segun Ajayi-Kadir

Despite the abundance of raw materials needed for self-sufficiency and the production of pulp and paper in the country, Nigeria is still missing out on the massive income to be made on the production, sale and export valued at $360 billion.

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.

 

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