▪︎Cover image: Doris Uzoka-Anite Minister of Industry, Trade and Investment. Photo: X
” The paper industry in Nigeria has largely been in recession due to the growth in digital technology and other macroeconomic headwinds.”
The sector contracted to 0.56% in 2023 from the 1.47% in 2022.
Dr. Muda Yusuf, the Chief Executive Officer of the Centre for Promotion of Private Enterprises (CPPE), shared this insight as guest speaker, during the Business Roundtable and Inauguration of World Envelopes Day with the theme, “The Pivotal Role of the Paper Industry in the Nigerian Economy.”
The event was organised by a renowned indigenous paper manufacturer, FAE Nigeria Limited, in commemoration of its 50th anniversary.
IN PICTURE from left: Vice Consul General of Germany to Nigeria, Jochen Shinderlaz; MAN President, Francis Meshioye; Lady Maiden Ibru, the Publisher of The Guardian Newspapers; DG of LCCI, Chiyenre Almona; LCCI President, Gabriel Idahosa; MD/CEO of FAE Limited, Princess Funlayo Bakare-Okeowo; Richard Okeowo, Director FAE Limited; MAN DG, Segun Ajayi-Kadir; and Dr Muda Yusuf, CEO of CPPE, during the 50th anniversary of FAE Limited.
Dr. Yusuf said the industry was valued at N365 billion in 2022; N363 billion in 2021; and N255 billion in 2020.
The CPPE boss stated that envelopes for instance are still important, especially in the corporate world, in enhancing brand visibility.
Yusuf urged the government agencies that have huge budgetary allocations for expenditure on papers, envelopes and other paper products to patronise domestic paper products producers and service providers such as printers and publishers.
He equally called for revival of the moribund paper mills by revisiting the privatisation of Jebba Paper Mill, Iwopin Pulp and Paper Company in Ogun State and the Nigeria Newsprint Manufacturing Company.
He also called for privatisation of government-owned printing presses, saying the idea of governments operating printing presses creates “unfair competition.”
The Managing Director/CEO of FAE Limited, Princess Funlayo Bakare-Okeowo, recalled that FAE started 50 years ago as Funlayo Adebo Enterprises founded by her late mother.
She said despite the digital disruption, the paper industry would continue to play a pivotal role in the nation’s economic landscape.