Funlayo Adebo Enterprises (FAE Limited), West Africa’s foremost producer of envelopes, has announced the declaration of April 16 as World Envelope Day, revealed by Princess Funlayo Bakare-Okeowo, the Chief Executive Officer of the company. This declaration was made on March 12 during a press conference marking the fiftieth anniversary of the company’s establishment.
Bakare-Okeowo described this declaration as a pioneering initiative by FAE Limited, reflecting the company’s leading position in the sector. She said the establishment of World Envelope Day is aimed at raising awareness about the significance of envelopes across various realms of human activity.
“This initiative seeks to celebrate the cultural, historical, and practical importance of envelopes as a means of communication and an integral aspect of our human existence. World Envelope Day will serve as a global platform to highlight the importance of envelopes in communication, track the evolution of envelope designs, and showcase environmental sustainability initiatives in envelope manufacturing,” she explained.
She emphasized that World Envelope Day is not solely about FAE, but rather about the entire industry and the individuals contributing to making envelopes an indispensable part of our lives. “We extend an invitation to envelope manufacturers, designers, postal services, and enthusiasts from around the world to join us in commemorating April 16,” she urged.
Addressing the challenges faced by the paper industry, which serves as the major raw material for envelopes, Bakare-Okeowo called upon the government to support the manufacturing sector by implementing favorable interest rates for manufacturers. She also urged both federal and state governments to promote the cultivation of raw materials for paper production.
Highlighting the need for favorable interest rates for manufacturers, she pointed out that the current rate of 28% puts Nigerian manufacturers at a disadvantage on the international stage. She lamented that 80% of profits from operators in the paper industry are channeled towards the importation of paper and diesel, stressing the government’s potential to ensure the availability of raw materials for local production.
Bakare-Okeowo emphasized the short gestation period of kenaf, only three months, compared to three years for the maliner tree. She emphasized that by investing in the production of these materials, Nigeria could significantly reduce paper imports and achieve substantial job creation.
“A ton of paper currently costs $1,300. Nigeria loses approximately $3 billion annually to paper imports. Instead of importing such vast amounts of paper, we could actually be exporting to neighboring countries. The paper industry could become Nigeria’s next oil,” she asserted.
In addition, recognizing the wisdom of investing in the paper industry, Bakare-Okeowo noted that neighboring countries are transitioning to paper for waste disposal due to its biodegradability. She stated that this presents an excellent opportunity to capture the regional export market, rather than depending on paper imports.
