The Asset Management Corporation of Nigeria (AMCON) on Friday officially handed over the moribund Star Paper Mill Limited in Aba to the Abia State Government, signaling a key move toward revitalizing the state’s industrial sector.
Speaking at the handover ceremony in Umuahia, AMCON’s Executive Director of Asset Management, Dr. Aminu Dan’amu, praised the Abia Government for its commitment to acquiring the factory. He described the facility, which had fallen into disuse due to financial distress, as “more than an asset, an icon woven into the history of Abia State and Nigeria.”
The takeover marks a major step in efforts to restore operations at the once-thriving paper mill, with expectations that the revival will create jobs, boost local production, and contribute to economic growth in the region.
Details on the state government’s immediate plans for the mill were not disclosed at the ceremony, but the handover reflects broader initiatives to attract investment and rehabilitate strategic industrial assets across Abia State.
