Buhari tells Abia monarchs that he borrowed $2bn from China to build textile factory in Aba

PRESIDENT Muhammadu Buhari has told traditional rulers from Abia State that one of the reasons why he went to China to secure a $2bn loan was to enable his government develop a textile factory in their state along with two others in Kano and Lagos.

Early this month, President Buhari travelled to Beijing for the Forum on China-Africa Cooperation (Focac), where he met with President Jinping. Among other things, China agreed to build a 3,050 MW hydroelectric power plant on the Mambilla Plateau in Adamawa State in a bid to solve Nigeria's chronic electricity supply problem.

In addition, the two countries also signed agreement on the sum of $328m for the Information and Communication Technology Infrastructure Backbone Phase II project at the summit. Yesterday, while hosting traditional rulers from Abia State, led by His Royal Majesty, Dr Isaac Ikonne, Enyi 1 of Aba, President Buhari revealed that the package also involved securing a loan to build three textile mills in Abia, Kano and Lagos States.

President Buhari expressed optimism that the new investment commitments coming into Nigeria’s textile sector, of which Aba is a major beneficiary, will be actualised within the shortest possible time. He also assured the monarchs that the issue of unstable electricity and other basic infrastructure in Ariaria market, a major trading hub in West and Central Africa, would soon be a thing of the past.

Reaffirming his administration’s commitment to rapidly industrialising the country through projects that promote import substitution, the president said the investments in the textile industry would create thousands of jobs for youths in Aba. President Buhari said: “Just last week, I was in China to attend the Forum for China-Africa Cooperation and during that visit, I personally met with executives of one of the largest cotton and garment companies in the world who will soon establish operations in Aba.

"This is following a joint effort of attracting this investor by both the federal and Abia State governments and the proposed investment will create thousands of jobs for the vibrant and creative youths in Aba. I am very excited about this project and I have directed the minister of industry, trade and investment to ensure this investment is actualised within the shortest possible time."

On Ariaria market, the president recounted that during his visit to Aba in 2015 as a presidential candidate, he was warmly received and walked through parts of the market where he observed the lack of electricity and other basic infrastructure for its over 40,000 shops. He added that he has since issued a presidential mandate to the ministry of power, works and housing and the Rural Electrification Agency to energise the market.

“In June 2018, the Nigerian Electricity Regulatory Commission granted an electricity generation licence as well as a distribution licence for the market. This will enable the generation and distribution of 9.5 Megawatts of electricity within the market.

“The project is moving smoothly and I have been assured the market will be fully electrified soon. We are working closely with the state government, local government, traditional rulers, market associations and the community on this project to ensure this goal is actualised by the end of the year," President Buhari said.

On security, the president reiterated that his government would continue to do its best to maintain the sovereign integrity of Nigeria while protecting the livelihoods of its hardworking and honest citizens. He also underscored the need for elder statesmen, leaders, parents, and patriots to continue to guide youths on the path of peace and prosperity while eschewing hateful and divisionary rhetoric.

President Buhari is an honourary Abian, having being conferred with the title of Ogbuagu1 of Aba by Eze Issac Ajuonu Ikonne, the Enyi 1 and traditional ruler of Eziama Aba. Presidential spokesman Femi Adesina, is also an Abia traditional chief having been conferred with the title Ugo Mba in Isieketa, Isiala Ngwa by the Isiala 1 of Isieketa, Eze Elder Nelson Nmerengwa.