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AMCON hands over Star Paper Mill to Abia govt

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The Asset Management Corporation of Nigeria (AMCON), on Friday, officially handed over the moribund Star Paper Mill Limited, Aba to the Abia Government, marking a significant step towards the state’s industrial revival.

Speaking at the brief ceremony in Umuahia, the Executive Director (Asset Management) of AMCON, Dr Aminu Dan’amu commended the State Government for its commitment to acquiring the factory.

Dan’amu said that the factory, which had fallen into disuse due to financial distress, represented more than an asset, describing it as “an icon woven into the history of Abia State and Nigeria”.

He recalled using products from the factory, including exercise books, during his youth and expressed joy that the facility would soon be revitalised under state leadership.

“AMCON does not take over assets to destroy them, but to preserve their value.

“Today, we are proud to transfer this preserved industrial giant to a government committed to revitalisation,” Dan’amu said.

He also said that the factory could restore and create between 3,000 and 5,000 direct and indirect jobs, when revived.

He said that it would strengthen the local supply chain, boost household incomes, improve the state’s Gross Domestic Product, and encourage ancillary businesses across Abia.

He described the acquisition as a “milestone for the state’s industrial development” and pledged to revive the factory to its former glory.

Dan’amu expressed the confidence that the State Government would implement measures to maximise employment and economic opportunities from the factory.

According to him, the revival of the factory aligns with the present administration’s economic master plan.

He further said that the factory, which once supplied products nationwide, also served the local community by providing drinking water through galvanised steel pipelines that exists to date.

Dan’amu said that the handover  underscores the importance of federal-state collaboration in preserving strategic national assets and boosting economic development.

Responding, Gov. Alex Otti expressed his administration’s resolve to revive the factory, promising to create thousands of jobs and attract private sector participation.

Otti described the takeover as a key step in his government’s industrial rejuvenation plan.

He said the factory had previously been sold under questionable circumstances, with parts of the agreement breached.

He said, “The board had to address these breaches, and Star Paper Mill was returned to proper administration for revival.”

He said that before its closure, the company employed over 1,000 people directly and more than 5,000 indirectly.

“Reviving it will create between 3,000 and 5,000 jobs. That, for me, is the ultimate goal – jobs, jobs, and more jobs,” he said.

Otti also said that his government’s role was to de-risk the investment and attract capable private sector operators.

“Our intention is not to run Star Paper Mill.

“We are acquiring to give it to the private sector.

“Leadership is key; without it, even resources fail,” he said.

The governor also disclosed that payment for Afro-Beverages, another industrial outfit under AMCON, was still ongoing and would be completed in the coming weeks.

He said that prospective investors were ready to partner in reviving the company.

Otti expressed gratitude to AMCON for its cooperation and assured it that the government would ensure that Star Paper Mill became profitable, produced goods, and able to generate employment.

Earlier, the Commissioner for Industries and SMEs, Mr Mike Akpara, described the handover of the factory as “the return of life to our industries” and a major milestone in the state’s industrial resurgence.

Akpara said that the State Government had concluded the acquisition of the factory located in Owerrinta and Aba, with the payment of N2.5 billion, while an initial deposit of N500 million had been made for Afro Beverages Limited.

He said that a structured bi-monthly repayment plan of N500 million had been put in place to clear the remaining N3 billion for Afro-Beverages within the 2026 fiscal year.

The commissioner also said that the state was actively engaging stakeholders to reactivate other dormant assets, including the International Equitable Industries, KAN Biscuits, and to complete the Enyimba Hotel as a five-star facility.

He said that the revival of the once-vibrant Aba-based enterprises would boost the state’s GDP, create jobs, and reduce youth restiveness.

Akpara commended the governor for his commitment to industrial development.

He said that the present administration’s vision extends beyond restoring moribund factories to positioning Abia as Nigeria’s renewed industrial hub. (NAN)

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Rep. Nkwonta Facilitates With Constituents, Nigerians On Easter

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 ……

Enjons Them  To Imbibe Christ -Like  Virtues

The Member, representing Ukwa East/West Federal Constituency and Chairman, House Committee on South East Development Commission (SEDC), Hon. Chris Nkwonta, has enjoined his Constituents and Nigerians, to imbibe the virtues of sacrifice, forgiveness, hope, patience, humility and love for humanity as exemplified by Our Lord Jesus Christ, which is the real essence of Easter Celebration.

In a statement personally signed by the Legislator, he called on his Constituents and the Christian Community in Nigeria to demonstrate Christ-like virtues of love for humanity, hope for a better future, peaceful and harmonious disposition in their dealings with one another for a United Ukwa Federal Constituency and indeed Nigeria, where brotherly love reigns amongst Citizens.

He maintained that despite the prevailing temporary economic difficulties; there is light at the end of the tunnel and strong hope for a better, improved and secured economy within a short period of time.

Hon. Nkwonta, wished everyone a hitch free and joyous Easter Celebration!

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Police, Lawyer Trade Tackles Over Killing Of Peace Moses By Hit-And-Run Convoy

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The Rivers State Police Command has declared that the tragic death of a 26-year-old lady, Peace Moses, an indigene of Akwa Ibom State, was not reported in any of its divisions or units across the state.

Peace was knocked down last Monday evening by a convoy of about 15 fast-moving vehicles around Omega Junction along Ada-George Road in Port Harcourt.

She was returning from an evening service at her church, Love Channel Christian Centre, also located along Ada-George Road, when the tragic incident occurred.

Last Thursday, a candlelight procession was organised in her honour by her friends and neighbours.

Speaking with our correspondent  in Port Harcourt yesterday, Police Public Relations Officer (PPRO) in the state, Grace Iringe-Koko, a Chief Superintendent of Police (CSP), wondered why neighbours could not report the incident to the Police.

Iringe-Koko stated that even the Divisional Police Officer (DPO) in charge of the Rumuepirikom Police Division was unaware of the tragic incident.

“Probably they didn’t report any such incident to the Police Station because the DPO in charge of that area is asking me where and when the incident occurred.

See, if they don’t report cases to the Police, how would the Police know? We are not magicians. I just spoke with the DPO, and she said she is not aware of anything like that.

“Somebody needs to report or anyhow, information needs to get through so that we too will get it,” she said.

But reacting to the claim by the Police, a human rights lawyer, Courage Nsirimovu, said that, with or without a report on the tragic incident, the Police are duty-bound to investigate the matter.

Nsirimovu said: “The duty of the Nigerian police is to secure lives and properties, and where a life has been lost in such grievous circumstances, the police have a duty to investigate the matter on the basis of their mandate and the public need to prevent such a menace to human life.

“The Police have a duty to investigate the matter, with or without a petition.”

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Nigerians may seek third term for Tinubu – Oluwo

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The Oluwo of Iwo, Oba Abdulrosheed Akanbi, on Sunday said many Nigerians might seek a constitutional amendment to allow President Bola Tinubu to remain in office beyond two terms.

The monarch, in a congratulatory message by his spokesperson, Ibrahim Alli, to celebrate Tinubu’s 74th birthday, described the President as a decisive leader who has laid a renewed foundation of hope for the country.

“Many Nigerians may beg for a constitutional review for Tinubu to spend more than two terms in office. He is a leader who knows what he is doing,” he said.

Oluwo said the President had distinguished himself through what he described as a firm campaign against illegalities that had stalled the country’s economic growth.

He added that the President’s administrative prowess had driven notable gains, citing improvements in the naira, a rise in foreign reserves from about $1bn to between $49.5bn and $50.45bn as of late February/March 2026, and strengthened economic indices.

The monarch attributed the gains to structural reforms, including exchange rate unification, increased oil output and higher foreign investment inflows.

Oluwo also commended Tinubu for granting local government autonomy, increasing allocations to states, expanding road infrastructure and improving palliative distribution at the grassroots.

According to him, past leaders attempted similar economic reforms but were overwhelmed by public and political pressure.

He said only a capable leader could implement tough but necessary decisions to reposition the economy.

‎Oluwo added that the President’s policies had begun to impact the standard of living, noting that the next phase would be stability.

‎He said, “You are not yet a capable leader until you make decisions and stand by them. Many past presidents attempted to remove obstacles to economic prosperity but were overrun by public outcries. Tinubu has demonstrated uncommon leadership through reforms.

‎“Nigeria’s foreign reserves have increased to over $49.5bn from about $1bn. Local government autonomy is taking effect, states earn more, and road projects, including Lagos-Calabar Coastal Road and Sokoto-Badagry, are ongoing.”

 

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