Τhe Chartered Institute of Professional Printers of Nigeria (CIPPON) has lamented the continuous increase in the price of paper in the country, stating that if the situation is not addressed on time, it will usher in a new wave of unemployment in the country.
The institute, which is in charge of regulating, controlling and managing the affairs of printers and related matters in Nigeria made this known through the President and Chairman-in-Council of the Institute, Mr. Olugbemi Malomo.
According to Malomo, paper is the biggest raw material and constitutes more than 50 per cent of any printing contract.
He said although the institute recognises that prices of commodities are increasing because of rising cost of foreign exchange, the about 300 per cent rise in the cost of paper far exceeds that of foreign exchange.
Malomo said foreigners have made the situation unbearable, citing an instance during the build-up of the 2019 general elections.
“It got so bad that everywhere an average Nigerian went to buy paper for importation into the country, they met a brick wall and were referred back home to the cartel who control the price of papers and sell at prices far above what obtains at the international market.
“Not only do these foreigners sell papers at higher rates, they also are competing with indigenous printers on the commercial side, taking their business, since most of them are unable to match their prices, thereby raising antitrust issues.
“The consequences of this is that members of the Institute are beginning to sell-off their equipment and lay-off staff almost on a daily basis, due to lack of jobs and the fact that they have to return LPO (local purchase order) of the jobs they got but cannot afford to execute due to rising cost of papers,” he said.
“Additionally, with the increasing costs in printing due to the progressively unending rise in paper costs, prices of books will go up, and ultimately put critical books and textbooks beyond the reach of students.”
He said if this trend continues, there will increased unemployment and could disrupt the country’s peace.