Dutch fashion fabrics designer, producer and distributor Vlisco Group is planning to invest $200 million in Nigeria’s cotton industry, which is expected to create over 700,000 jobs.
The cotton that will be produced will provide raw materials for the Nigeria-owned garment factory.
Farmers that will be employed as a result of the deal will earn extra income which will be spent within the country, therefore, boosting the local economy.
The deal will also enhance tax revenue from individuals and contractors that will be employed.