This Company Wants To Invest 61 Billion Naira In Nigeria
A Dutch company that specializes in making clothes, the Vlisco Group, has proposed to Buhari an investment of 200 million dollars, about 61 billion naira by the company in Nigeria.
The investment, if it pulls through, should create at least 700,000 jobs.
Of course Buhari has welcomed the proposal and pledged to revive the ‘good old days’ when the cotton and textile industry employed hundreds of thousands of Nigerians.
The president stated this when he received the Chief Executive Officer of Vlisco Group, David Suddens, at the Presidential Villa, Abuja.
“I am very much aware of your company’s effort especially your investments in the textile industry, and it is one area that we are trying to develop because it will create employment and boost agriculture.
“To get cotton to grow again in the country is like going back to the good old days when the textile industry used to employ hundreds of thousands of people.
“I am very excited about the prospects of reviving the industry because it will keep farmers busy, create employment which brings more security, help the economy, transfer of technology and of course we have a large market to absorb the products,” he said.
He reiterated Nigeria’s commitment to forging a stronger economic partnership with the Netherlands, assuring the Dutch investor that the Nigerian authorities would continue to do the utmost to keep smugglers at bay at borders.
In his remarks, Suddens told the President that the 172-year-old company plans to use cotton grown in Nigeria for production.
“I want a new strategy that brings Vlisco manufacturing to Nigeria. I want to change the supply chain from Asia to Nigeria.,” he said.
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