At Last! Abia Govt Finalizes Acquisition of Star Paper Mill, Set for Total Overhaul

.... Governor Alex Otti secures AMCON approval, vows to hand over to private sector

For more than two decades, one of Abia State's biggest industrial landmarks - Star Paper Mills Limited - has remained in ruins, a ghost of its former self, abandoned to rust and decay. Once a major hub of industrial production in the South-East, the company became another sad reminder of Nigeria's collapsing manufacturing sector.

But in what many are describing as a bold and historic move, Governor Alex Otti has announced that his administration has officially secured the acquisition of the company from the Asset Management Corporation of Nigeria (AMCON).

Speaking during the graduation ceremony of the first cohort of the Abia Leadership Academy, Otti told the audience that the AMCON Board gave approval on August 7, 2025, for Abia to take over the company.

"I am sure you were taken on a tour of the Star Paper Mills as part of your program. I have good news for the people of Abia State. On the 7th of this month, the Board of AMCON, that is, the Asset Management Corporation of Nigeria approved our application to acquire Star Paper Mills. So, in the next few days, we shall be making payment to AMCON and take over the company,ÔÇØ Otti declared.

He went further to assure that the company would be refitted, retooled, and revived - but not as a state-run venture. Instead, the governor emphasized that the mill would be handed back to the private sector for effective management and profitability, once government completes the revival process.

"Our intention is not for government to run it. We shall return it to the private sector for effective management,ÔÇØ Otti stressed.

The revival of Star Paper Mills, observers say, will not only boost Abia's economy but also create thousands of direct and indirect jobs, while reviving industrial confidence across the South-East.

Already, social and economic commentators are hailing the development as "the first real step to industrial rebirth in AbiaÔÇØ, stressing that Otti's decision is a practical demonstration of his commitment to make Abia the industrial hub of Nigeria once again.

For a company that has been abandoned for decades, this acquisition signals a turning point for both the state and its people.

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