By Ruth Olurounbi
Nigeria is in talks with the China on a possible investment into the country’s textile industry, PSN can confirm.
President Muhammadu Buhari since inception of his administration has been seeking ways to diversify the oil dependent economy.
In a new deal that may likely bring as much as $2 billion in new investment to Nigeria, a Chinese firm, Rui Group. is said to be in talks with Nigerian government to grow the country’s cotton and textiles industry.
Minister of Industry, Trade and Investment, Okechukwu Enelamah expects that final agreement on the deal would be concluded in the next 18 months.
“Our goal is to ensure that within one year, we would have succeeded with the first phase of the investments in this area in feasibility planning with other financial commitment following accordingly,” the minister sai
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