World Envelopes Day: Stakeholders decry neglect of paper industry, chart path to sustainable growth

to remove obstacles besetting the paper industry, to prevent it from total collapse.

On the pivotal role of the paper industry in the Nigerian economy, Maiden Alex-Ibru said sustaining the paper industry, despite the prevailing trend towards digitalisation, holds several key economic implications, including job creation and economic growth, adding that the industry employs a significant number of people, from paper manufacturing to printing and publishing, she said sustaining the industry will ensure the preservation of jobs and contributes to economic growth by generating...

Speaking on threats to the survival of the industry, she listed the lingering economic crisis, digitalisation, reduced demand for paper globally, high diesel and petrol cost, poor power supply, costly FX to source raw materials, multiple taxation from federal, state and local governments and crippling overhead costs among others, as factors hobbling the industry and pleaded with the government and relevant stakeholders to fix these problems to save the industry.

As of 2023, the value of the Nigerian paper industry was N398.8 billion, according to the National Bureau of Statistics. The value was N365 billion in 2022; N363 billion in 2021 and N255 billion in 2020. With a significant contribution to the GDP, when compared to the size of the economy, estimated at N230 trillion as of 2023, it is small.

Apparently to sanitise the general aviation segment of local aviation, the Civil Aviation Authority Nigeria, yesterday, ordered a three-day ultimatum for all private operators and holders of non-commercial flight permits to submit for a re-evaluation.

Lady Maiden Alex Ibru Princess Funlayo Bakare-Okeowo World Envelopes Day

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