The Chairperson, Printing & Publishing Group of Lagos Chamber Of Commerce & Industry (LCCI), Princess Layo Okeowo, has stated that N20 billion processing equipment is capable of churning out 500 tonnes of paper per day.
Okeowo disclosed this at the Group’s Webinar, themed “Revitalising Nigerian Paper Industry: Challenges & Opportunities in South-Western, Nigeria.”
She said, “Investigation has shown that $10million (N4billion) worth of machinery can produce 100tones of paper per day while $50million (N20billion) worth of machinery can produce 500tones of paper per day which could be a good start to the bigger journey ahead. I will spare no word to let you know that, paper industry in Nigeria is a goldmine waiting for intelligent investors to explore.”
She noted that paper industry in Nigeria is a goldmine waiting for intelligent investors to explore, adding that the sector needs specific policy measures to reflate activities in the paper and allied product industry.
“We need sector-specific policy measures to reflate activities in the paper and allied product industry. Collaboration could also be in the area of research (Paper Research Institute) on how to grow improved trees, own and manage plantations that would feed the mills, as well as the creation of training sectors that would strengthen the skills of young individuals in paper mill operations. We also need friendly policies to encourage higher private sector participation in the paper industry,” Okeowo stressed.
She pointed out that research has shown that tree species needed for manufacturing woodfree bond paper can be grown in Nigeria with a gestation period of 6months and not 12years or more as formerly believed.