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China offers loans worth $2 billion to Nigerian textile industry

Nigerian President Muhammadu Buhari has secured a $2 billion loan to establish cotton plantation and textile factories in Abia, Kano and Lagos states. The new investment commitments coming into Nigeria’s textile sector, of which Aba is a major beneficiary, will be actualised within the shortest possible time. The proposed investment will create thousands of jobs for the vibrant and creative youths in Aba.

The President recently attended Forum for China-Africa Cooperation where he met executives of one of the largest cotton and garment companies in the world who will soon establish operations in Aba.

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.

 

 
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