Nigeria is reportedly losing a staggering ₦674 billion annually to foreign paper producers following the near-total collapse of its once-thriving paper mill industry, sparking renewed concerns over industrial decline and import dependency.

According to reports by The Guardian Nigeria and BusinessDay Nigeria, the shutdown of major paper manufacturing facilities across the country has left a massive supply gap now dominated by international players.

Industry analysts say the situation has not only drained foreign exchange reserves but also crippled local production capacity, leading to job losses and stunted growth in the manufacturing sector. Once key players in West Africa’s paper market, Nigeria’s mills have struggled under the weight of poor infrastructure, inconsistent policies, and high operating costs.

Stakeholders are urging the Federal Government to revive the sector through strategic investment, policy reforms, and public-private partnerships, warning that continued neglect could deepen the country’s economic vulnerability.