$50m textile coy to be established in Kano

An indigenous textile trading company based in Kano, Mudassir & Brothers has commenced processes to establish a textile manufacturing company worth over $50 million in Kano.

At a media briefing at the weekend, the Chairman/Chief Executive Officer of the company, Alhaji Mudassir Idris Abubakar, said the decision of the company to expand is to complement President Buhari’s policy of encouraging local production of qualitative goods with a view to creating wealth and job opportunities for the nation’s youths.

He said Kano State Governor Abdullahi Umar Ganduje has already approved the allocation of 22.5 hectares of land for the establishment of the company which will provide over 10,000 jobs for Nigerians.

“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.

He noted that textile manufacturing is a capital intensive project, especially with the competition from China, and called on the federal government to fulfil its promise of supporting local manufacturers.

The chairman also called on the Central Bank of Nigeria to reconsider its position of freezing the company.