Economy Politics

LCCI, Ogun govt. to partner in establishing paper mill

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Written by Maritime First

The Printing and Publishing Group of Lagos Chamber of Commerce and Industry(LCCI) has sought a partnership with the Ogun government in establishing a paper mill in the state.

Chairperson of the group, Mrs Layo Okeowo, disclosed this in Abeokuta during a courtesy visit to the state Ministry of Industry, Trade and Investment.

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Okeowo said that LCCI had indicated an interest in investing in the paper mill value chain in the state.

She sought the allocation of 20 hectares of land by the government as its equity contribution toward the establishment of a modern and functional paper mill in the state.

According to her, the demand for paper and related products in Nigeria has grown to more than three million metric tonnes annually.

She added that the installed production capacity had stagnated at 200,000 metric tonnes, thus making importation of raw materials and finished products inevitable.

“According to investment analysts, 4.3 million worth of investment machinery can produce 100 metric tonnes of paper per day,” she said.

Okeowo further stated that paper products were being imported with scarce foreign exchange to meet the country’s current demands due to inadequate capacity, weak production and lack of enough investment in the sector.

“LCCI’s plan to establish a modern and functional paper mill in Ogun is in line with the actualisation of the industrialisation agenda and the public private sector partnership framework of the state government.

“The establishment of the paper mill will create opportunities for inclusive economic participation as well as engender direct and indirect jobs.

“It will also support the revenue drive of the government by facilitating income and wealth creation, which will sustain the economic development outcome.

“It will also bolster the industrial profile of the state as the industrial hub of Nigeria,” Okeowo said.

She pledged that LCCI would continue to support the state government’s effort in enhancing enabling environment through public-private partnership and other initiatives that would facilitate the development of market economy and foster competitiveness.

In her remarks, the Commissioner for Industry, Trade and Investment, Mrs Kikelomo Longe, expressed appreciation to the group for its resolve to partner with government by establishing the firm in the state.

Longe assured the group of government’s assistance in ensuring that the business thrived in the state.

According to her, the setting up of a paper mill in the state will further strengthen the relationship between Lagos and Ogun states and create job opportunities in the state.

 

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