A Kano-based textile trading company, Mudassir & Brothers, says it has commenced processes of establishing a textile manufacturing company worth over $50 million in the state.
Disclosing the plan at a press conference in Kano on Saturday, chairman of the company, Mudassir Abubakar, said the decision was to complement President Muhammadu Buhari’s policy of encouraging local production of qualitative goods, creating wealth and job opportunities for the youths.
Mr Abubakar, who is also the Chief Executive Officer of the company, also disclosed that Governor Abdullahi Ganduje of the state had already approved the allocation of 22.5 hectares of land for the establishment of the company.
According to him, if actualized, the company would provide over 10,000 jobs for the youths in the state and beyond.
He noted that textile manufacturing is a capital intensive project, especially with the competition from China, calling on the Federal Government to fulfill its promise of supporting local manufacturers.
“I would like to thank Mr President for his unwavering resolve to boost the economy through encouraging local production of goods.
“I would also like to thank Governor Abdullahi Umar Ganduje for his commitment towards ensuring that Kano takes its former position of the best textile manufacturing state,’’ he said.
The chairman also pleaded with the Central Bank of Nigeria, CBN, to, as a matter of national interest, reconsider some of its policies to enable business activities to run smoothly within the nation.