Business

Investor sets to establish textile ginnery in Ekiti State

A UK-based textiles and garmen expert, Mrs Lolade Adeleye, has expressed her interest in establishing a cotton ginnery in Itapaji Ekiti, Ekiti, for processing cotton products.

She disclosed this in an interview with newsmen in Itapaji Ekiti, Ikole-Ekiti Local Government Area of Ekiti.

Adeleye said was in Nigeria for the official flag-off of the Recovery of Cotton Outputs for 2019 planting season under the Central Bank of Nigeria (CBN) Anchor Borrowers Programme.

The investor said she was determined to establish the factory in the community having put in over five years of research in the cotton and textiles industry across Europe and America.

She described the specie of cotton grown in the South West Zone as the best in the world, adding that farmers, especially members of National Cotton Association of Nigeria (NACOTAN), must increase output to meet the raw materials needs of the ginnery.

She also appealed to the CBN as well as state and federal governments to encourage cotton farmers by releasing adequate grants and loans for increased production.

Adeleye thanked the traditional ruler of Itapaji Ekiti, Oba Kareem Azeez, for releasing land for the take-off of the factory before the end of the year.

Chief David Olusoga the State Commissioner for Investment, Trade and Industry, also told NAN that government would do everything possible to support serious investors by providing necessary logistics for the take-off of their legitimate businesses.

He commended cotton farmers for their support to the government and assured them that adequate efforts would be made in protecting their businesses.

The Regional Manager of Arewa Cotton, which is the off-taker of the product, Mr Bayo Olayemi, told NAN that the long staple cotton specie found in Ekiti and other South West states were favourites in the international textile markets.

He urged the cotton farmers in the South West to intensify efforts at reviving the sector, stressing that it would boost their income and enhance the influx of foreign investors to the region.

Olayemi added that there were ready-made markets for cotton in Europe, America, India, China and Brazil.

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