News: $56m Chinese Investment to Create 3,000 Jobs in Nigeria

The Kwara State Government has said that the Kwara Chitex Textile Industrial Park will create 3,000 jobs when operational.

It added that Governor Abdulfatah Ahmed was committed to job and wealth creation, human capital development and poverty reduction.

The government said it had secured a $56m investment from China for the establishment of the textile industrial park to boost employment, agriculture, manufacturing and socio-economic wellbeing of the residents of the state.

A statement by the Senior Special Assistant to the Governor on Media and Communications, Dr. Muyideen Akorede, on Tuesday noted that Ahmed finalised the deal during his investment trip to China.

Akorede said the agreement for the establishment of the Kwara Chitex Industrial Park was signed by Ahmed and the Managing Director of Ningbo Jinsheng Star Import and Export Company Limited, Mr. Shi Zengchao, at the 18th China Zheijand Investment and Trade Symposium in Ningbo, East China.

He added that Kwara State was focusing on manufacturing to stimulate its economy and create jobs.

“We are looking for investors, especially in the area of manufacturing. We have a very youthful population, which shows that there is a strong workforce that can support industrialisation. There are opportunities in textiles, agriculture, mining and other areas. The potential is huge,” Ahmed said.

The governor stated that the signing of the agreement, which was organised by the Ningbo Municipal People’s Government, involved a total of $3.7bn worth of investments in 31 projects, out of which $1.4bn was for outbound investments with the Kwara Chitex Industrial Park, being the only one meant for Nigeria.

Source: Punch