In a bid to address the incessant increase in the price of paper in Nigeria, the Chartered Institute of Professional Printers of Nigeria and the Paper Importers Association have agreed to set up a price modulating committee that will determine and regulate the price of paper monthly.
This was part of the unanimous decisions reached at the emergency fact-finding meeting of stakeholders in the printing industry in Lagos on Thursday 25th March 2021.
The meeting was necessitated by the daily increase in the cost of papers which has risen above three hundred percent in recent times and has caused a lot of damage to the printing industry.
The printers at the meeting expressed their frustrations on how they have lost businesses and income as a result of the unstable price of paper. They narrated how they have had to return legal purchase orders to clients as they could no longer afford the paper, which constitutes about seventy percent of their materials. The consequence of this for the printers is that more printers are closing shops, selling off their machines, and laying off their staff.
The President of the Chartered Institute of Professional Printers of Nigeria, Olugbemi Malomo described the scenario as a threat to national security. According to Malomo, not only is the cost of papers leading to an increase in unemployment, but it is also depriving our young ones of education as most parents will not be able to afford books when school resumes next session.
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The paper importers under the aegis of Paper Importers’ Association responded to the plight of the printers stating banking crisis, devaluation of the naira, port congestion and increase in the cost of paper from manufacturers as the factors responsible for the increase in the cost of papers.
Chairman of the Association, Bayo Abdul said the cost of foreign exchange is being reviewed upward on every bidding day and the implication of this is what the printers and Nigerians are experiencing.
He added that paper importers have been compelled to source foreign exchange from the black market because it has been tough to get from the Central Bank of Nigeria at the official rate.
Knowing the importance of paper in our lives and economy, the Importers’ Association Chairman said the Federal Government should have given paper importers special access to the foreign exchange to reduce the cost of paper. He further said the congestion at the port and the cost of moving goods from the port to the final destination is also killing and because they are in business to make a profit, the cost has to be passed down to the end-users.
After due deliberations enhanced by the director Printing and Paper Group, Lagos Chambers of Commerce and Industry, Princess Layo Okeowo and the deputy director, Paper, Pulp, Wood and Industrial Development, Ministry of Industry, Trade and Investment, Olumuyiwa Ade-ajayi, the stakeholders agreed to set up a price modulating committee with the term of reference to consider every cost associated with paper importation, add an agreeable margin and release a price that would be consistent for an agreed period.
The stakeholders also agreed to hold a paper summit through which all issues relating to the paper will be discussed and ideas generated at the summit would be passed to the government for effective policies on paper.
