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Nigerian Prez secures $2-bn PRC loan for textile sector

22
Sep '18
Nigerian Prez secures $2-bn PRC loan for textile sector
Nigerian President Muhammadu Buhari during his recent visit to China secured a $2-billion loan to set up cotton plantation and textile units in Abia, Kano and Lagos states. He assured the traditional rulers of Abia that problems of electricity and infrastructure in the state’s Ariaria market, a major trading hub in West and Central Africa, would soon be over.

President Buhari was in China to attend the Forum for China-Africa Cooperation

Investments in the textile sector would create thousands of jobs in Aba, Nigerian media reported quoted him as saying.

In June this year, the Nigerian Electricity Regulatory Commission granted an electricity generation licence as well as a distribution licence for the Ariaria market, he said, assuring that the market will be fully electrified soon. (DS)

Fibre2Fashion News Desk – India


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