Abia State Government has received the official handover of the moribund Star Paper Mill from the Asset Management Corporation of Nigeria (AMCON).
The move, which is expected to generate hundreds of direct and indirect jobs, would also to unlock vast industrial potentials and reposition Abia as a vibrant manufacturing hub.
Speaking at the the official handover ceremony of the facility on Friday, Governor Alex Otti of Abia State described the takeover as a key step in his administration’s industrial rejuvenation plan.
The Governor disclosed that payment for Afro Beverages Limited, another industrial Facility under AMCON, was still ongoing but would be completed in the coming weeks.
He reaffirmed his administration’s commitment to bringing the moribund Star Paper Mill back to life, which he said would generate thousands of jobs and stimulate private-sector participation.
Governor Otti added that prospective investors were already on ground and ready to partner with the State Government in reviving the once-vibrant company.
The Governor while noting that the Mill had previously been sold under questionable circumstances, with parts of the agreement breached, said before its closure, Star Paper Mill employed over 1,000 people directly and more than 5,000 indirectly.
“Reviving the Star Paper Mill will create between 3,000 and 5,000 jobs. That, for me, is the ultimate goal: jobs, jobs and more jobs”, he said.
Governor Otti explained that his government’s intentioni is not to run Paper Mill but 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”, the Governor added.
He expressed gratitude to AMCON for its cooperation and assured that the State Government would ensure Star Paper Mill becomes profitable, produces goods, and generates employment.
In his remarks, the Executive Director, Asset Management of AMCON, Dr Aminu Mukhtar Dan’amu, commended the Abia State Government for its commitment to acquiring the factory.
Dr Dan’amu said that the Factory, which had fallen into disuse due to financial distress, represents more than an asset, describing it as “an icon woven into the history of Abia State and Nigeria”.
He recalled using products from the Star Paper Mills including exercise books, during his youth and expressed satisfaction that the facility would now be revitalised under State Government.
“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 noted that the Factory would strengthen the local supply chain, boost household incomes, improve the State’s Gross Domestic Product (GDP) and encourage ancillary businesses across Abia.
Dr Dan:amu who expressed confidence that State Government would implement measures to maximise employment and economic opportunities from the factory, added that the revival of the factory aligns with the present administration’s economic master plan.
He also noted that he factory, which once supplied products nationwide, also served the Local Community by providing drinking water through galvanised steel pipelines that exist till today.
Dr Dan’amu said that the handover underscores the importance of Federal-State collaboration in preserving strategic National assets and boosting economic development.
Earlier in his address, the Commissioner for Industries and SMEs, Mazi Mike Akpara described the handover as “the return of life to our industries” and a major step in Abia’s industrial resurgence.
He announced that the State Government had fully concluded the acquisition of Star Paper Mills Ltd in Aba and Owerrinta with a ₦2.5 billion payment, and made an initial ₦500 million deposit for Afro Beverages Limited.
He added that a structured ₦500 million bimonthly repayment plan had been put in place to clear the remaining ₦3 billion for Afro Beverages within the 2026 fiscal year.
According to him, the State is already deepening engagements toward reactivating other moribund assets, including International Equitable Industries, KAN Biscuits, and the completion of the Enyimba Hotel as a five-star facility.
Mazi Akpara stated that reviving these once-vibrant enterprises would boost the State’s GDP, create jobs, and reduce Youth restiveness.
He commended Governor Otti for his commitment to industrial revolution adding that the State has positioned itself as Nigeria’s renewed industrial hub.
