South East to benefit from $2b textile investments soon – Buhari
President Muhammadu Buhari on Friday in Abuja expressed optimism that the South East, especially Aba, will be major beneficiary of the new investment commitments coming into Nigeria’s textile sector, adding that “It will be actualized within the shortest possible time.”
The investment is one of the major outcomes of the recent engagement of President Muhamamdu Buhari during his visit to China for the Forum on China and Africa Cooperation (FOCAC) in Beijing, China.
During the visit to China, Nigeria signed agreements with the China National Petroleum Corporation, which has agreed to secure funding for the Nigeria National Petroleum Corporation, Ajaokuta – Kaduna-Kano (AKK) gas pipeline at the cost of USD 2.8 billion.
The Ministry of Industries, Trade and Investment also signed agreement with Shandong Ruyi International Fashion Industry for USD 2 billion, first-ever cotton value chain; that will assist cotton growing to ginning, spinning, textile manufacture and garment with Katsina, Kano, Abia and Lagos States as the chosen locations.
President Buhari while speaking when he received traditional rulers from Abia State led by the traditional ruler, Isaac Ikonne, Enyi 1 of Aba, assured the monarchs that the issue of unstable electricity and other basic infrastructure in Ariaria market, a major trading hub in West and Central Africa, would soon be a thing of the past.
Reaffirming his administration’s commitment to rapidly industrialize the country through projects that promote import substitution, the President said the investments in the textile industry would create thousands of jobs for youths in Aba.
‘‘Just last week, I was in China to attend the Forum for China-Africa Cooperation. During that visit, I personally met with executives of one of the largest cotton and garment companies in the world who will soon establish operations in Aba.
‘‘This is following a joint effort of attracting this investor by both the Federal and Abia State Government.
‘‘The proposed investment will create thousands of jobs for the vibrant and creative youths in Aba.
‘‘I am very excited about this project. I have directed the Hon. Minister of Industry, Trade and Investment to ensure this investment is actualised within the shortest possible time,’’ the President told the visiting royal majesty and his entourage.
On Ariaria market, the President recounted that during his visit to Aba in 2015 as a presidential candidate, he was warmly received and walked through parts of the market where he observed the lack of electricity and other basic infrastructure for its over 40,000 shops.
‘‘As a government, we issued a presidential mandate to the Ministry of Power, Works and Housing and the Rural Electrification Agency to energise the market.
‘‘In June 2018, the Nigerian Electricity Regulatory Commission granted an electricity generation licence as well as a distribution licence for the market. This will enable the generation and distribution of 9.5 Megawatts of electricity within the market.
“ The project is moving smoothly and I have been assured the market will be fully electrified soon. We are working closely with the State Government, Local Government, Traditional Rulers, Market Associations and the community on this project to ensure this goal is actualised by the end of the year,’’ he said.
On security, the President reiterated that the APC-led government would continue to do its best to maintain the sovereign integrity of Nigeria while protecting the livelihoods of its hardworking and honest citizens.
He also underscored the need for elder statesmen, leaders, parents and patriots to continue to guide youths on the path of peace and prosperity while eschewing hateful and divisionary rhetoric.
‘‘We must not shy away from this responsibility. We only have one Nigeria. And we must ensure we hand over a better Nigeria to the next generation,’’ he said.
In his remarks, Eze Ikonne lauded the President for successes recorded so far since he assumed office in 2015, particularly in the fight against corruption, agricultural revolution, infrastructure development and security.
On infrastructure development in the South East, His Majesty said: ‘‘ Mr President, I thank you for the massive federal roads rehabilitation going on in the South- East; like the Enugu-Aba-Port Harcourt expressway, Port Harcourt-Elele-Owerri road, Enugu-Onitsha expressway.
‘‘These roads were death traps for 16 years before you came into office, but today they are wearing new solid looks, though not completed but relief is already there with the level of work done so far.’’
Speaking to State House Correspondents at the end of the meeting, Mac Wabara, a former Managing Director of the defunct Hallmark Bank, who was among the delegation said, described President Buhari as a “courageous and a decisive man who is committed to the growth and development of this nation”
He said, “For six decades our people have been working in line with our founding fathers. In that respects our successes have been limited by lack of political will, lack of political stability and unity among the various constituencies making up Nigeria.
“In the life of great nation, challenging times like this produce men of courage, men of capacity, men who are committed to nation building and in Mr. President we have a man like that. He is courageous, decisive and he is committed to the growth and development of this nation.
He also expressed happiness that the President secured investment for the South East during his recent trip to China, adding that “the biggest cotton producing company is going to establish in Aba, Abia State.
“These are the works of Mr. President and I believe we can take that to the bank. So, we are happy that Mr. President has his eyes not only on Abia but on the whole of Nigeria.”
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