Buhari orders revamping of moribund textile, mining, agro industries

President Muhammadu Buhari, yesterday, ordered that immediate attention be given the revival of ailing and moribund textiles, mining and agro-based industries.
Buhari gave the directive when he received a delegation of foreign investors, who were proprietors of Olam Farms Nigeria Limited, led by Mr. Mukul Mathura.
President Buhari declared that the creation of more jobs for Nigeria’s unemployed youths was the key objective of his administration’s economic agenda and will be pursued with the greatest possible dedication.

He said: “I still recall with clarity that at some point, the textile industry in Nigeria was employing about 320,000 Nigerians. But today, the same industry employs less than 30,000 people and the factories operate below capacity or they are completely closed.
“I have made a promise to Nigerians that jobs will be created as part of efforts to revive the economy and that promise will be fulfilled. We will move as fast as we can to resuscitate the textile and mining industries, and also improve production in our agricultural sector.
“Now that we are trying to create jobs, we cannot allow industries and factories to close down. Instead, we should be making every effort to ensure that we re-open the closed ones and attract new ones to reduce unemployment.”
The President further stated that his administration would encourage investments in agriculture and other sectors of the economy by creating a more favourable environment and enabling laws, stressing that he had already ordered some immediate interventions to address current challenges faced by industrialists.
Speaking earlier, Mathur told the President that Olam Group of Companies was established in Nigeria in 1989, and currently employs about half a million Nigerians, directly and indirectly.