- Nigeria is losing N180 billion from non-performance of the three paper mills in the country. The non-performance of the mills also means that jobs that could have been created are lost to other countries. This is also worsened by the fact that the federal government of Nigeria spends N50 billion on the import of papers annually.
- The three paper mills include: Nigeria Paper Mill (NPM)Limited located in Jebba, Kwara State; Nigerian Newsprint Manufacturing Company (NNMC)Limited, Oku-Iboku, Akwa Ibom State; and Nigerian National Paper Manufacturing Company (NNPMC) Limited in Ogun State.
- Hussain Doko Ibrahim, Director-general, Raw Materials Research and Development Council (RMRDC), made this disclosure in Lagos weekend, at a meeting targeted at reversing the troubling fortunes of the paper and pulp industry.
- According to Ibrahim, the cost implication of non-performance of NPM in 2006, 2007 and 2008 to the Nigerian economy annually was N7.8 billion, which only reduced to N6.85 billion in 2009, resulting in four-year deficit turnover of N30.25 billion.
- The RMRDC boss further said that the cost implication of the comatose situation of NNMC between 2006 and 2009 to the economy was N18.76 billion, adding that within the four years considered, the deficit turnover to the economy totalled N74.8 billion.
The total cost of non-performance of the three mills to the economy within the four-year period was estimated at N153.05 billion in 2009, and this has been calculated to be about N180 billion before the end of 2015, he said.
