Senate Committee on Privatisation has been mandated by the Senate to investigate operations and non-performance of paper mills sold by Bureau of Public Enterprise (BPE) to private owners. The Senate, in its resolution, also rejected a call on the Federal Government to establish Federal Paper Mills in each Geo-political zones of the country. The decision was reached sequel to the consideration of motion on “the need to revive the Moribund Paper Mills in Nigeria.”Sponsor of the motion, Senator Stephen Ekpenyong (PDP – Akwa Ibom North-West) recalled that Nigeria’s three Paper Mills: Nigeria Paper Mill (NPM) Kwara State, Nigeria Newsprint Manufacturing Company (NNMC) Akwa Ibom State and Nigeria National Paper Manufacturing Company, Ogun State were established by the Federal Government in the 1960s and 1970s. “All our paper mills are privatised, and in the seventh Senate, we investigated the public enterprises that were privatised. “We need to know how far those private investors who took over the control of our paper mills are compliant with the signed shared purchase agreement?

Source: Nigerian Tribune June 09, 2020 19:41 UTC