The Nigerian government is targeting N 5.089 billion from the partnership with the private sector to revive the garment and leather industries. Director general of the Infrastructure Concession Regulatory Commission (ICRC) Chidi Izuwah recently said the amount would be made up of 80 per cent debt and 20 per cent equity with zero contribution by the government.
Hewas speaking at an event to present the full business case (FBC) compliance certificate to the Nigeria Correctional Service (NCS) in respect of the proposed NCS shoe and garment factories in Aba in Abia state and the Janguza Tannery Factory in Kano state under public-private partnership (PPP) mode.
He said the PPP would lead to the creation of 1,290 direct jobs, several indirect jobs locally and savings on foreign exchange, according to Nigerian media reports.
The arrangement between NCS and local company Erojim Investments Limited and its technical partner, China’s Poly Technologies Inc., is aimed at establishing a world-class factory using the most modern technology and quality inputs to produce high quality shoes, garments and leather products.