- The federal govt has concluded plans to establish a military and paramilitary clothing and accessories factory in Kaduna
- The venture requires N4 billion capital and when operational, will provide 1,300 direct employment opportunities
- According to the minister of defence, once completed, the venture is expected to sufficiently meet the accoutrement needs of the Armed Forces of Nigeria and other uniformed paramilitary organizations
In order to reduce reliance on foreign supply, the Nigerian federal government has concluded plans to establish a military and paramilitary clothing and accessories factory in Kaduna state.
The director general of the Infrastructure Concession Regulatory Commission (ICRC), Chidi Izuwa, on Thursday, February 28, presented the minister of defense, Mansur Dan-Ali, with the Full Business Case (FBC) compliance certificate for the establishment of the factory, Leadership reports.
READ ALSO: Bakare, Buhari hold meeting at Aso Rock
Legit.ng gathers that Izuwa said when operational, the venture, which requires a N4 billion investment and is a Public-Private-Partnership initiative between Defence Industries Corporation of Nigeria (DICON) and Sur Corporate Wear, will become a huge revenue earner for the government.
He said the venture will take off between eight months to one year.
The director general of DICON, Major General BO Ogunkale, speaking earlier, said when operational, the factory will provide 1,300 direct employment opportunities. He reportedly said the venture will require N100m starter capital.
Ogunkale said the sharing formula for profit is 50-50 percent.
The minister of defense, in his response, regretted that over the years, Nigeria had relied heavily on importation of not just military hardware and ammunition but also clothing and accessories.
He said the venture would meet the uniform and other accessories needs of the military and other paramilitary organizations.
He said: “The issuance of the Full Business Case compliance certificate for this project has lent credence to the potential of the project to herald the rival of a once thriving sector in Nigeria.
“Once completed, the venture is expected to sufficiently meet the accoutrement needs of the Armed Forces of Nigeria and other uniformed paramilitary organizations.
“This will further help in creating direct and indirect job opportunities for the teeming youth in the country as well as conserving our foreign exchange.”
PAY ATTENTION: Install our latest app for Android, read best news on Nigeria’s #1 news app
Meanwhile, Legit.ng previously reported that Peugeot, in a joint venture with Aliko Dangote and five state governors in Nigeria will see the production and assembling of cars in the country by French car-maker, PSA Peugeot Citroen in 2019.
A partner with the firm, Peugeot Automobile Nigeria (PAN), said that it will assemble 3,500 units in 2019 and increase the number to 10,000 units later on at a plant that will be built in Kaduna.
NAIJ.com (naija.ng) -> Legit.ng: Same great journalism, upgraded for better service!
I was wrongly arrested as a soldier, the uniform belongs to my roommate - on Legit TV:
Source: Legit.ng
