N20bn machinery to produce 500 tonnes of paper per day

Industries, Trade and Investment

 

The Chairperson, Printing & Publishing Group of Lagos Chamber Of Commerce & Industry (LCCI), Princess Layo Okeowo, has stated that N20 billion processing equipment is capable of churning out 500 tonnes of paper per day.

Okeowo disclosed this at the Group’s Webinar, themed “Revitalising Nigerian Paper Industry: Challenges & Opportunities in South-Western, Nigeria.”

She said, “Investigation has shown that $10million (N4billion) worth of machinery can produce 100tones of paper per day while $50 million (N20 billion) worth of machinery can produce 500 tonnes of paper per day which could be a good start to the bigger journey ahead. I will spare no word to let you know that, paper industry in Nigeria is a goldmine waiting for intelligent investors to explore.”

Source: The Nation 

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