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September 18, 2020

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Senate Probes Privatisation Of Moribund Paper Mills In Nigeria

The Senate has begun a probe into all the moribund Paper Mills in Nigeria, with a view to ascertaining what went wrong with the hitherto companies that provided jobs to over 300, 000 Nigerians.

The Senate said that it was worried by the recent statistics released by the Raw Material Research and Development Council (RMRDC) that Nigeria lost over N800 billion naira annually to paper importation.

According to the Senate, the Printers Association of Nigeria puts the figure at $1 trillion US dollars annually through the importation of over one million metric tons of paper at the cost of $1,000 US dollars per tones.

Consequently, the Upper Chamber has mandated its Senator Theodore Orji, Peoples Democratic Party, PDP, Abia Central led Senate Committee on Privatization to carry out a holistic investigation into the activities and operations of the Mills and report back to the Senate.

The Senate has also urged the Chartered Institute of Professional Printers of Nigeria (CIPPON) and Nigeria Customs Service to review duty on the importation of published books and importation of paper as raw materials into the country and make it favourable to print locally in Nigeria.

Resolutions of the Senate yesterday were sequel to a motion titled “The need to revive the Moribund Paper Mills in Nigeria.

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