Nigeria’s Paper Industry Contribution Surges to N398.8bn in 2023, Despite Digital Disruptions

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The Chief Executive Officer of the Centre for the Promotion of Private Enterprise revealed that the contribution of Nigeria’s paper industry increased to N398.8 billion in 2023, rising from N356 billion in the previous year.

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This announcement coincided with the inauguration of World Envelopes Day in Lagos, marking the 50th anniversary of envelope manufacturing firm, FAE Limited.

Yusuf highlighted the substantial economic impact of the paper industry across various sectors but acknowledged challenges posed by digital technology, particularly in communication methods.

He commented, “In 2023, the value of Nigeria’s paper industry stood at N398.8 billion according to the National Bureau of Statistics, reflecting a notable increase from N365 billion in 2022, N363 billion in 2021, and N255 billion in 2020. While this represents a significant contribution to our GDP, it remains relatively small compared to the overall size of our economy, estimated at N230 trillion in 2023.”

Yusuf underscored the industry’s resilience amidst digital disruptions and macroeconomic challenges such as exchange rate fluctuations, forex liquidity constraints, high financing costs, and energy price hikes.

He emphasized the need for government support to sustain and grow the paper industry, given its pervasive economic influence.

In her remarks, Funlayo Bakare, Managing Director of FAE Limited, celebrated the inauguration of World Envelopes Day as a strategic initiative to highlight the indispensable role of envelopes in daily communication.

Bakare explained, “As we commemorate our golden jubilee, we are pleased to establish World Envelopes Day, observed annually on April 16. This initiative, pioneered by FAE Ltd, aims to raise awareness about the significance of envelopes in personal correspondence, business transactions, and creative expressions.”

Maiden Ibru, Publisher of The Guardian Newspaper and chair of the occasion, emphasized the importance of balancing digital transformation with physical paper production, especially for cultural preservation purposes.

Despite Nigeria’s history of paper mills, which are now defunct, the country heavily relies on imports due to the closure of domestic mills. The Nigerian National Paper Manufacturing Company Limited in Ogun State is under the management of the Asset Management Company of Nigeria due to unpaid debts.


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