FG hands over Iwopin Paper Mill to investor

The Federal Government will today (Monday)hand over the Iwopin Paper Mill in Ogun Waterside Local Government Area of Ogun State to the core investor, Beulah Technical Company Limited.

The handedover will be conducted by the Bureau of Public Enterprises, according to a statement obtained on Sunday.

A member of the House of Representatives, representing Ijebu North/Ijebu East/Ogun Waterside Federal Constituency, Mr. Abiodun Abudu-Balogun, commended the BPE for ensuring the successful completion of the privatisation process of the paper mill.

The lawmaker said that all controversial issues concerning the sale of the mill had been resolved.

He said, 'I sincerely appreciate the patriotic efforts of Vice-President Namadi Sambo, who is the Chairman of the National Council on Privatisation, along with those of the BPE project team and other stakeholders for making this feat possible.

'My sincere thanks also go to the Iwopin community and the entire Ogun Waterside Local Government for their support and prayers. We believe that with the handover, the investors will swing into action immediately and start production.

'But we want the new investors to be socially responsible by giving employment to our people in all categories and also contribute to the socio-economic development of the area.'

It will be recalled that the paper mill, conceptualised in 1976, was abandoned for 35 years.

Abdul-Balogun noted that the paper mill was established by the then administration with the objective of reducing Nigeria's dependence on imported paper products and cut down the government's spending on foreign exchange expenditure.

He added that the mill was also set up to expose Nigerians to pulp and paper technology, generate direct employment in the mill and ancillary industries, and encourage the exploitation of abundant forestry resources in the country for industrial growth.