Odu’a, ABUAD to invest N12bn on moribund textile firm

By Rotimi Ojomoyela

Ado-Ekiti—A N12billion investment is being planned for the conversion of the moribund textile industry in Ado Ekiti to industrial park by  the Odu’a group of Companies in partnership with Afe Babalola University, Ado Ekiti, ABUAD.

The Investment which was also part of effort to salvage the assets of the  deserted factory, would include the establishment of a vocational and skills centre as well as academic centre, where diploma in three engineering courses and Advanced level certificates would be awarded.

Speaking at the formal presentation of the project design for effective utilisation of the old Odu’a textile mills, ABUAD’ founder, Chief Afe Babalola(SAN), who expressed regret at the level of retrogression in economic and technological development of the country, said the Nigeria was at par with Brazil and India in terms of industrial development in the 60s.

Babalola said while the two other countries fought hard to sustain their industrial development strategies, Nigeria derailed which he said accounted for the moribund of some of the companies that thrived 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,” he said.

“We shouldn’t allow such textile mills that was the hub of Ekiti’s economy to die. But with this plan, the factory will bounce to life by becoming an employment generation , vocational and academic centre, where people can benefit”, he said.

The GMD of Odua conglomerate, Mr. Adewale Raji , said the factory was converted into a skilled and vocational centre under the regime of Governor Kayode Fayemi, saying the module adopted then could not sustain the centre as a veritable training ground for graduates and artisans.

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