Odu’a, ABUAD to Invest N12bn in Conversion of Moribund Textile Factory to Industrial Park

By Victor Ogunje in Ado Ekiti
The Odu’a Group of Companies in partnership with Afe Babalola University, Ado Ekiti (ABUAD) is planning a N12 billion investment for the conversion of the moribund textile industry in Ado Ekiti to an industrial park.
As part of the salvaging steps being taken to save the assets of the factory, the institutions are also planning to establish a vocational and skills centre as well as academic centre where diploma in three engineering courses and advanced level certificates are offered within the already deserted factory.
Speaking at the formal presentation of the project design for effective utilisation of the old Odu’a Textile Mills, ABUAD’s founder, Chief Afe Babalola (SAN), said the country was at par with Brazil and India in terms of industrial development in the 60’s.
Babalola said while the two other countries fought hard to sustain their industrial development strategies, Nigeria derailed, adding that that accounted for the moribund of some of the companies that had been in operations in the past.
“The British said that Nigeria, India and Brazil would join the league of advanced countries in the 60’s. But today, when the two other countries got it right and joined them, Nigeria didn’t. This is worrisome and disturbing
Details later…