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LCCI, NIXIN Reel Actions to Boost Nigeria’s Paper Industry

He condemned the current tariff regime, which imposes duties on plain paper imports but allows for the importation of printed materials duty-free.

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The Lagos Chamber of Commerce and Industry (LCCI) has called on the Federal Government to provide policy support and incentives to boost local paper manufacturing in Nigeria.

The Chairman, LCCI, Printing Publishing and Allied Group (PPA), Gabriel Okonkwo, stressed the urgent need for government intervention in the paper manufacturing sector to revive local production and reduce Nigeria’s dependence on imports.

During a meeting with stakeholders at NIXIN Paper Mill, Okonkwo highlighted policy inconsistencies that have continued to undermine local manufacturers.

He condemned the current tariff regime, which imposes duties on plain paper imports but allows for the importation of printed materials duty-free.

“This unfair policy has created a lopsided competitive environment that favours foreign manufacturers over local producers.

“This has led to a situation where it’s cheaper to print books and other materials abroad and import them, rather than produce them locally,” he added.

As a result, a significant number of printing jobs are being outsourced to other countries, depriving our local industry of business opportunities.

If local manufacturers can provide high-quality paper at competitive prices, it would reduce our reliance on imports, conserve foreign exchange, create jobs, and contribute significantly to the economy,” Okonkwo said.

He pointed out that Nigeria’s large population, especially its student demographic, offers a massive market for paper products, calling on support for local paper manufacturers to produce at scale and competitive prices.

Reinforcing his call for increased confidence in local capacity, Okonkwo pointed to recent developments with the electoral body as a case in point. “INEC didn’t even believe we could produce ballot papers locally until recently.

It’s time we began to believe in and invest in our own,” Okonkwo stressed.

As part of NIXIN Paper Mill’s commitment to the nation’s self-sustenance, the paper mill is concentrated on increasing production capacity, improving product quality, and expanding its product line to meet the growing demands of the Nigerian market, thereby reducing the country’s dependence on foreign paper products and contributing to the growth of the local economy.

The Managing Director of NIXIN Paper Mill, Eric Wang, highlighted the potential of Nigeria’s paper industry, comparing it with his hometown in China, with a population of just 300,000, supporting a paper factory that consumes over 20,000 tons monthly.

In contrast, Nigeria, with a population exceeding 200 million, recorded only 70,000 to 75,000 tonnes per month, a figure he believes should be much higher given the country’s educational and commercial demands.

“We see that over 80 percent of Nigeria’s educational and printing materials are imported from Asia,” Wang stated.

Business Manager, NIXIN, Williams Sun, echoed that Nigeria significantly underutilized its local paper production capacity, with many orders still going to countries like India and China.

He emphasized the significant investment NIXIN has made of over $60 million and expressed frustration over the lack of returns, noting that one year into operations, the expected market response has yet to materialize.

Sun urged the government to support investors and take steps that will attract more players into the publishing and paper production space, which is critical for building a self-sufficient industry.

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Niger Delta Chamber Investment Summit Targets $5bn, 500,000 Jobs

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Photo: Ambassador Idaere Gogo Ogan

‎The Niger Delta Chamber of Commerce, Industry, Trade, Mines and Agriculture (NDCCITMA) has unveiled plans to attract up to five billion dollars structured investments to the oil-producing region in five years.

The Chairman of NDCCITMA, Ambassador Idaere Gogo Ogan, made the disclosure at a pre-summit conference ahead of the Niger Delta Economic and Investment Summit in Port Harcourt, Rivers State.

He said that the initiative would catalyse no fewer than 500,000 direct and indirect jobs as well as spur investments and create wealth.

‎He said the summit with the theme, “Driving Investment, Innovation, and Industrial Growth in the Niger Delta”, slated for Port Harcourt, would deliberate on investment mobilisation, enterprise growth, industrial expansion, and regional coordination.

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Dangote: Middle East crisis might take us back to ‘Work from home’ COVID era

In some countries today, what they’ve done is ask everybody to work from home because they cannot afford it.“I think in Indonesia, they only go to work four days a week.

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The President of the Dangote Group, Aliko Dangote, has expressed concerns about the ongoing Middle East crisis taking many countries back to the COVID19 era’s work from home.

Dangote stated this on Monday, after a meeting with President Bola Ahmed Tinubu at his residence in Lagos.

While expressing concern about the economic impact of oil price uncertainty, Africa’s Richest man noted that Nigeria and other African countries might be forced to start working from home, just like the COVID19 era.

Dangote called for prayers and international intervention to end the conflict which has affected the price of fuel and other energy sources in the country.

He said, “In some countries today, what they’ve done is ask everybody to work from home because they cannot afford it.“I think in Indonesia, they only go to work four days a week. And they will look at the situation. If it doesn’t improve, they will ask everybody not to go to work anymore. We will do like that time of COVID, where people will now go and work from home,” Dangote said.

It’s not only energy. Some people will try to take a chance and say, ‘Ah, this is an opportunity. So, let me make money. So, if this thing doesn’t de-escalate, it is going to keep going up and governments cannot really now go and add salaries also. So, people will really feel the pinch,” he said.

Dangote explained that the crisis would hit hardest at ordinary Africans operating small businesses, “People who are barbers, people who are doing bread, people who have industries who have to pay their own generator, I mean, you can see what is happening,” he said.

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Binance seeks out-of-court settlement in Nigeria tax evasion case

Following submissions from both parties, Justice Nwite adjourned the case until May 12 for a report on settlement talks.

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Binance Holdings Limited on Tuesday said it is exploring a resolution of the tax evasion charges filed against it by the Federal Government, signalling a pause in the trial.

Sunday Agaji, the company’s counsel disclosed this before Emeka Nwite of the Federal High Court in Abuja.

Moses Ideho, counsel to the government a deputy director in the legal department of the Federal Inland Revenue Service (now Nigeria Revenue Service), confirmed the development.

Although the matter was slated for continuation of trial, Ideho told the court he had been informed earlier by the defence that the company had approached the tax authority to discuss an out-of-court settlement.

Agaji said discussions were ongoing.

“My lord, parties are exploring settlement. That is essentially where we are,” he said.

Following submissions from both parties, Justice Nwite adjourned the case until May 12 for a report on settlement talks.

( Business Day)

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