Another Post on the Nigerian Textile Industry
Mr Kunle Alake, the Dangote Group COO, tells BusinessDay that the textile industry in Nigeria cannot be viable, and he cites the usual suspect: smuggling.
“The Nigerian textile industry is dead; it has been dead since the last 5 years. It cannot be resuscitated with N70 billion, those pushing for the resuscitation are only after the sharing of this fund,” he said.
And now comes the reason:
“Smuggling has taken a new turn; it is one single act that is bringing the economy down. We had to scrap our Nigerian Textile Mills Plc (NTM) because we found out that the textile sector has no future”.
It would be recalled that the Dangote Group bought over the NTM and is currently using its premises for the production of sacks for its flour mills located in Lagos , Kano and Ilorin and as warehouse for its various products.
Read in full here.
Remember my last year post on the Nigerian textile industry?
Leasing African Land
Time Magazine reports
that South Korea’s Daewoo Logistics leased 3.2 million acres of farmland from the Madagascar government. The land would be used as a farmland, and the South Korean company hopes this would help secure food supply for their country. The lease is for 99 years.
A Daewoo manager, Hong Jong-wan, told the Financial Times that the crops would “ensure our food security,” and would use “totally undeveloped land which had been left untouched.” Land is scarce and expensive in South Korea, which makes it the world’s third-largest importer of corn. Daewoo says the Madagascar land will be leased for a price of around $12 an acre, which is a fraction of the price for farmland in the corporation’s home country.
The full story is here.
A New Blog
My old teacher, Dr Ayobami Ojebode, just started a blog. You can see it here
Is it True…
… that Nigeria supplies 25% of the oil consumption of the USA?
I have not posted in recent times because I have been really busy. Last Friday I left Stuttgart and went back to Halle and today I left Germany for Copenhagen, Denmark, to attend a workshop on informal economic networks and political agency. I will be here till the weekend. I don’t think I need to add that it is going to be a busy next couple of days so I may not have much time for blogging. However, I will blog whenever there is an opportunity.
Out of Circulation
Sorry guys, I haven’t had time to blog recently. Not that there is nothing to blog about, just that there has been little time… just found out that I have to work harder than I thought…. some papers to write up and some books to read. I have been following what’s been happening lately anyway. The Taureanminx
issues sound really sad. It was something that could always happen if moderation is not on. I am for rights to free speech and all that, but I think that it is important for me to have control over things that come out through me – at least my blog is my responsibility. TM, Babaalaye, pele about the whole embarrassment. I have also been following The Pseudo-Independent’s
blog. He’s been raising some gender issues and it might be worth checking out.
Alright, got to get back to reading Bruno Latour. Will blog as soon as I can.