The Minister of Finance of Nigeria ,Mrs.Kemi Adeosun,had a high level meeting with the Dutch textile and design company, Vlisco Group over the companyâ€™s proposed investment in the Nigerian cotton textile industry.
He said that Vlisco foresees an end-to-end involvement in the Nigerian textile industry from cotton sourcing to retail. They are expecting this investment to yield benefits for the Nigerian economy in terms of economic diversification and job creation in line with the countryâ€™s Industrial Revolution strategy.
Vlisco Groupâ€™s activities are expected to generate more than 10,000 jobs in Nigeria in the medium term. They will also envisage a Vlisco printing factory in Nigeria using Nigerian designs for the Nigerian consumer, retail outlets selling Vlisco products and trained tailors sewing Vlisco fabric into garment.
The investment made by the company would boost growth and jobs in Nigeria across the entire value-chain from cotton to fashion.
The Group is participating across the sector value chain from sourcing of cotton, textile printing, wholesale, retail and e-commerce distribution, garment manufacturing and supporting and training of Nigerian fashion designers.
The two partners are very serious industrialists with first-class operations in their own countries. Both are prepared to move quickly if Vlisco guarantees the purchase of their output, and if agreement can be reached on the details of the Nigerian operation. The two are expected to start operations with a weaving mill of between 120 and 140 looms, with each mill producing approximately 12 to 15 million metres of cotton fabric annually.
Adeosun, who expressed delight at Vliscoâ€™s proposed investment in the cotton textile industry, said the Federal Government was committed to the revitalization of the cotton textile industry.
The Vlisco Group designs, produces and distributes fashion fabrics for the West and Central African market and African consumers in global metropolitan cities.
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