Experts optimistic of higher returns, new investment in Nigerian packaging business

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LAGOS – Some experts the nation’s packaging industry on Wednesday said the sub-sector would witness higher turnover and investment opportunities following the changing taste and preference of Nigerians.

They told the News Agency of Nigeria (NAN) in Lagos that the printing and packaging industry could serve as a major revenue spinner if their operations were well managed.

Mr Wahab Muhammed, President, Chartered Institute of Printers and Publishers of Nigeria (CIPPON), said the industry had the potential and prospects of generating revenue and employment if the government adequately regulates it.

He said that the major challenges of printers had been mass importation of printing consumables and lack of patronage of by domestic manufacturers.

“People are beginning to see reasons to patronise us because we have proven to them that we are also experienced printers.
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“It is because of the huge importation of printing materials that is making printing business to suffer in Nigeria but we are hopeful.

“We believe that the incoming administration provide a more enabling environment for us to operate,’’ Muhammed said.

Mr Joju Adekanbi, Executive Officer, Numbers CMYK Ltd., a packaging firm expressed optimism that the packaging business would experience a boost under the incoming Gen. Muhammadu -led administration.

He said that operators in the sub-sector eagerly awaited the stability of the for the of their orders for sophisticated printing machines from abroad.

Adekambi said that the packaging industry had a huge investment and turnover potential given the growth of local manufacturing, especially in , cosmetics, industrial consumables and clothing items.

“We are hopeful that the new administration will focus seriously on the manufacturing sector, which will in turn positively influence our business.

“Using the most sophisticated machines from around the world, Nigerians are beginning to trust us with their jobs, so, we can now take up the packaging and printing of their jobs.

“Hopefully, we also expect that the prices of consumables would be cheaper with the stability of the Naira.

“The stability of the local currency would bring more foreign investors who have been waiting for the post-election period,’’ he said.

Mr Mike Adekola, President, Institute of Packaging of Nigeria (IoPN), also urged the incoming government and practitioners to partner toward the establishment of a packaging technical institute.

He said the institute when inaugurated would assist in expanding Nigerians’ knowledge of dynamic packaging technology.

Adekola said the industry had the potential to create millions of jobs and the development of the nation’s packaging industry.

The Manufacturers Association of Nigeria (MAN) in its recent report showed that local content rose from 44.41 per cent in the first half of 2012 to 61.10 per cent in the second half of 2013.

It also rose to 71 per cent in the first half of 2014.

The MAN report showed that the food and beverage sub-sector led with 12 per cent increase in the growth of packaging industry.

Euromonitor International, an international research firm, in another report said that companies involved in packaging attracted high patronage in supermarkets and malls across the world, especially in Nigeria. (NAN)
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