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Vlisco Group & FG sign MoU to expand Nigerian CTG sector
28
Jan '15
Dutch textile and design company, Vlisco Group, has signed a Memorandum of Understanding (MoU) with the Federal Government of Nigeria, to invest in the Cotton, Textiles, and Garment (CTG) sector of Nigeria, Vanguard reported.

The MoU detailed wide-ranging collaboration and support from the Government of Nigeria. Vlisco Group intends to offer Nigeria’s 188 million consumers it’s four brands (Woodin, Vlisco, Uniwax and GTP). The Group is also expected to participate across the sector value chain from sourcing of cotton, textile printing, wholesale, retail and ecommerce distribution, garment manufacturing and supporting and promoting Nigerian fashion designers.

Hans Ouwendijk, CEO of Vlisco Group said the new policy enables the Vlisco Group to invest in Nigeria and to contribute to the building of a vibrant CTG sector. Nigeria is Africa’s largest consumer market and the opportunity to fully deploy Vlisco’s brands and business models in Nigeria provides a major boost to our growth ambition, he added.

He said that the MoU is expected to yield benefits for the Nigerian economy in terms of economic diversification and job creation in line with the Government’s Industrial Revolution strategy. Vlisco Group’s activities are expected to generate more than 10,000 jobs in Nigeria in the medium term.

Minister of Industry, Trade and Investment, of Nigeria, Olusegun Aganga said the Government of Nigeria is determined to rebuild the CTG sector with its job creation impact across the entire value chain from cotton fields to fashion.

In December 2014, the Government of Nigeria unveiled a new National CTG Policy aimed at revitalising and boosting the development and growth of the country’s cotton, textile and garment industry.

As per the CTG policy, raw cotton production in Nigeria is expected to be increased from 200,000 tonnes in 2003 to 500,000 tonnes by the end of 2015.

The new policy necessitates that all military and para-military institutions and government-owned institutions purchase only made-in-Nigeria fabrics in order to boost local patronage and support the growth of the value chain across the entire CTG industry. (GK)

Fibre2fashion News Desk - India


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