A total of 5,000 direct and indirect job opportunities are expected to emerge in Abia State when the government revives the moribund Star Paper Mill Limited in Aba.
The government acquired the N2.5 million private mill, which has been shut for over a decade, from the Asset Management Corporation of Nigeria (AMCON)
After he was handed over the mill in Umuahia, the state capital, Governor Alex Otti said the event marked a significant step towards industrial revival in Abia.
“As part of my manifesto, as I campaigned, one of the things I promised our people was to bring back what they call moribund industries in the state, which the company is one of.”
“As I have said in the past, our intention is not to run a mill. We intend to de-risk it, lead from the front, and then bring the private sector to come and take charge,” Otti said.
He said the government is also in the process of acquiring other moribund facilities, which include Aba Textile Mills, Ogwe Golden Chicken, and International Equitable, among others.
The governor expressed gratitude to AMCON for its cooperation and assured that the government would ensure the mill’s profitability and generate employment.
In his address before handing over the mill to Otti, Aminu Dan’amu, the executive director of AMCON, described the acquisition as a milestone in the state’s industrial development.
Dan’amu said the event underscored the importance of collaboration between federal and state governments in preserving strategic national assets and boosting economic development.
”Today, we are proud to transfer this preserved industrial giant to a government committed to its revitalisation,” he said, and lauded Otti for initiating the acquisition.
Earlier in a remark, the commissioner for Industry and SMEs, Mike Akpara, described the acquisition as a significant step in the state’s industrial resurgence.
He said the government had also deposited ₦500 million to acquire Afro Beverages Limited in Aba, as the move would boost the state’s Gross Domestic Product.
