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Nigeria: Special Report - Nigeria s Paper Mills Moribund Yet Options for Reviving Them Abound
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SPECIAL REPORT: Nigeria s paper mills moribund yet options for reviving them abound
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The country’s three paper mills have failed to produce as planned for years, but experts say non-wood raw materials abundant in the country can help revive them.
On Danladi Abubakar’s corn farm, now harvested, lie massive heaps of stalks about to be burnt. The farmland is located at Moniya, a suburb of Ibadan, Oyo State.
This practice of Mr Abubakar’s, like many other farmers’, causes emissions of carbon dioxide, an harmful chemical compound, into the atmosphere, hence contributing to global warming and ultimately, climate change.
But if not burnt, the heaps could follow through a supply chain ending in machines of paper-product manufacturers, who, currently, depend on imported wood-based raw materials, which constrain their productivity and profitability.
Managing Director, AMCON, Ahmed Kuru. Photo/FinancialNigeria
Since the Asset Management Corporation of Nigeria (AMCON) was founded, the Corporation has approached its legal mandate with dexterity and alluring passion. But this is also certainly not without force and brutalities that have left roll calls of deaths of innocent citizens and collapse of businesses. Hence across Nigeria, many Nigerians have several scary stories to tell about AMCON. It is time for AMCON to shift focus to CORPORATE RESCUE MISSION as enunciated in CAMA 2020.
No doubt, AMCON was established by law in 2010 to buy bad debts from banks, using the Treasury Bill’s money to stabilize the country’s financial institutions. The entire concept was to make banks liquid by buying toxic loans from banks and liaising with the obligor/debtor to provide the obligor/debtor with a conducive environment to repay the debt. If I may ask, was AMCON established to generate profit or to stabilize the financial sector? If AMCO
AMCON should consider CAMA 2020 corporate rescue mission before liquidation
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