Abia Recovers Star Paper Mill, Moves To Finalise Afro Beverages Acquisition

The Abia State government has fully recovered Star Paper Mill’s Aba and Owerrinta facilities from the Asset Management Corporation of Nigeria through a N2.5 billion buyback deal, marking a major step in its moribund industry revival agenda. Governor Alex Otti said the takeover fulfills his campaign pledge to restore key industrial assets and de-risk them for private investors, stressing that government will not run the mill but reposition it for private-sector management and job creation. Officials project that reviving Star Paper Mill, once a major producer of exercise books and other paper products, could generate between 3,000 and 5,000 direct and indirect jobs while boosting Abia’s GDP and supply chains. The state has also paid an initial N500 million towards acquiring Afro Beverages Limited, with a structured plan to complete the remaining N3 billion by 2026, targeting a broader industrial resurgence around Aba.