(Ecofin Agency) - The New Nigeria Development Company (NNDC) in partnership with a Turkish firm plans to invest $15 million in reviving the collapsed Kaduna Textile company in Kaduna state. The Group Managing Director of NNDC, Ahmed Musa, made this known after a meeting with a Turkish business delegation at the NNDC head office in Kaduna.

According to Musa, under the partnership, the Turkish firm, Sur International Textile, will provide 35% of the amount, the Federal Government will provide 45% while the Kaduna Textile Limited will contribute 20% of the fund. He said, when renovated, the company will boost the state’s economy and create employment opportunities for youths in and outside the state.

“We held a private meeting with a delegation from Turkey. They want to invest in Kaduna Textile and turn it around. In summary, they want to start producing military and paramilitary uniforms for members of the Nigerian Armed Forces,” Musa explained.

Established in 1957, the Kaduna Textile Limited operated a large integrated textile mill producing different pieces of textile products, including African prints, shirts, bed sheets, furnishing fabrics, towels, embroidery lace, table and bed linen, guinea brocades, wax prints, java prints, fishing nets. The company was shut down in 2002 due to mismanagement, poor power supply, lack of access to long-term finance and competition from new firms.

Anita Fatunji