In a recent webinar run by the Printing and Publishing Group of the Lagos Chamber of Commerce and Industry (LCCI) one of the expert speakers, Dr Biodum Adedipe noted that the Nigeria Customs Service indicated in 2018 that imports of paper and pulp was N720 billion. There is however a printing and industry based estimate that put it at N3trillion annually, which translate into some 235,000mt per month.
“This is by far beyond the installed capacity in the sector and points at investment opportunities,” the economist said. Adedipe went on to state that the sector more than doubled the value it created between 2010 and 2019, from N24.36 billion to N53.93 billion (CBN), averaging annual growth of 10.02 per cent.
“This is estimated to grow to about N140.14 billion worth of value that can be created in the sector in Nigeria by 2030.This figure can escalate with fresh capital injection from new investors"