The Ministry of Industry, Trade and Investment and Shandong Ruyi International Fashion Industry have signed an MoU to establish a cotton value chain industry from cotton growing to ginning, spinning, textile manufacture and garment production. The factories will be established in Katsina, Kano, Abia and Lagos states. They will manufacture of at least 300 million metres of African print. This is expected to meet about 20 per cent of West Africa’s demand.
The Nigerian cotton industry will also receive an investment of $2bn (N610bn) that will enable the country to create its first ever cotton value chain sector. The investments, according to the Ministry of Industry, Trade and Investment, will involve aggregation and offtake of cotton from farmers for ginning, spinning and weaving. The pact will lead to the production of cotton and denim garments for local consumption and export.