THE hitherto moribund textile industry is about to enjoy a breath of fresh air, courtesy of a proposed management buyout by some prospective investors abroad.
According to information made available to The Nation, about 50 companies from Netherlands have hinted of plans to pool their investment into some of the nation's ailing textile companies.
Confirming this development, Nigeria's Ambassador to Netherlands, Mrs. Nimota Akanbi said, the cheery news is the result of the painstaking search for foreign direct investment by the Jonathan administration.
Speaking, a Business and Investment Forum in Netherlands, Akanbi said government will continue to woo foreign investors, adding that this should be supported by encouraging local manufacturers to expand and invest more.
The Minister of Trade and Investments, Dr.Olusegun Aganga, who was excited about the development, said what Nigeria needs now is job creation, adding that government will be ready to encourage any investor ready to create jobs for Nigerians.
One of the foreign investors, Vlisco Group, revealed its plans to acquire not less than four of the ailing textile factories in the Lagos axis of the country.
The company is also set to establish tailoring academies to train hundreds of Nigerians.
In his remarks, Managing Director, Vlisco Group, Mr Hans Oujendendijk, said besides sourcing of cotton locally to stimulate the economy as well as help to revamp some factories in the country more jobs would be created.
Specifically; he disclosed that 1000 direct and 10,000 indirect jobs are expected to be created in Nigeria stressing.
The Minister and the Ambassador also held a meeting with top management of APM Terminal Netherlands led by Christian Moller Laursen who said his company would be constructing a multi-billion naira multipurpose port in Badagry, while expansion work on Apapa would cost more than $100million.
