Business

Battling with NEXT LEVEL economy: LCCI tells government to make paper printing, publishing productive

Published

5 years ago

March 5, 2019

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Contending the Next Level economic policy thrust of the re-elected President Muhammadu Buhari, the Lagos Chamber of commerce and Industry (LCCI) has expressed concerns over the lack of patronage for operators in Nigeria’s local paper and printing industry.

Operators were sid to have complained that they are faced with other challenges such as high cost of bringing in raw materials, harsh business environment, amongst others.

Report shows that 12 million metric tonnes of paper products are imported into Nigeria annually; this costs about N1 trillion in cash, a development that publishers say is killing their business.

Members of the printing and publishing group of the Lagos Chamber of Commerce and Industry protested that there is need to address this ugly trend by making local raw materials available for production.

The LCCI in 2018 noted that the size of the printing and publishing sector is about N20 billion.

The chamber adds that the sector is one of the fastest growing sectors in the country with a gross domestic product rate of about 6 per cent.