The passage of FG to revive the textile industry

The approval of the National Economic Council (NEC) for the establishment of a cotton development committee, fabrics and clothing, together with new strategies for the agri -food expansion and the transformation of cattle which is expected to generate up to $ 90 billion of economic value by 2035, is a welcome development.

The initiative, aimed at reviving the textile industry that once formed the backbone of the Nigerian economy, will not only increase the search for the nation for an economy of 1 trillion of dollars by the year 2030, but will also create jobs as part of the non -chinetic strategies in the fight against the insecurity that devastate the nooks and the big ones of the country.

In his 149th NEC meeting last week in Abuja, Nec also observed a minute of silence for the victims of recent killings in the States of Benue and Altopiano, expressing his condolences for the people and governments of the affected states.

Other initiatives approved by NEC included the establishment of the National Office of the Green Imperative Project (GIP) in Abuja and regional offices in the six geopolitical areas, as well as facing the crises fed by the current animal breeding system in the country.

The NEC was chaired by vice -president Kashim Shettimo, with governors of the 36 States of the Federation, governor of the Central Bank of Nigeria (CBN), Finance Minister and other government officials co -opted as members.

As a regulatory body for the cotton, fabric and clothing sector of Nigeria, the Council will have declarations of the six geo-political areas, with ministers of agriculture and food safety, budget planning and economy and industry, trade and investments as members.

The Council, when set, will be domiciled in the Presidency, led by the private sector, with the representation of the interested parties of the public sector pertinent and financed by the textile import withdrawal collected by the Nigeria Customs Service (NCS).

“Our goal is not just a regulation. It is a awakening. This is our opportunity to reindustrialize, enhance communities and restore pride in local production,” said Shettimo.

He observed that while cotton can grow in 34 states, Nigeria produces only 13,000 tons, forcing the country to rely on textile imports. The new tab is expected to invert this trend and reposition Nigeria as a textile production hub.

Shettimo had during a meeting with a delegation of the International Cotton Advisory Committee (ICAC) in August last year, he mentioned the plans of the federal government to revive the textile industry to increase the creation of jobs in the country.

The ICAC delegation was led by its executive director, Eric Trachtenberg, at the meeting organized to discuss ideas for the relaunch of the cotton industry and textiles in Nigeria. Shettimo challenged the participants in the meeting, which included some state governors, to develop a roadmap for the relaunch of the cotton and textile sector in Nigeria.

Vice -president has assured that the administration of President Bola Tinubu will make aware efforts to ensure that Nigeria exploits the opportunities in the cotton value chain, including ensuring that the country regains its belonging to ICAC.

The governor hopes that Uzodinma of the state of IMO told the journalist that the meeting offered Nigeria the opportunity to renew the dying textile industry in the country for the creation of jobs. “So, for me, I am very excited to be part of this conversation that will now renew the country’s economy. We must involve our young men and women and therefore align correctly with the new digital era for production and economic stimulation.”

ICAC executive director, Trachtenberg, said he was enthusiastic to return to Nigeria, stressing that they would draw on the potential of the Nigerians. “You (Nigeria) have low -cost work, you have access to the market in needle and to the economic partnership agreements with the European Union, you have many people of great talent and government officials far ahead.

“So I think it is now time and ICAC is ready to help Nigeria, to help you achieve your goals as a country, to help create quality jobs, to help generate foreign currency and reimagine the global cotton economy and cotton economy and Nigeria fabrics.”

The Nigeria textile industry has continued to fight for years despite the enormous market potential of the country for the production of cotton. In the 70s and 80s, Nigeria was an industrial hub for textile production, with about 180 textile mills that work optimally with 450,000 workforce (about 25 %) in the manufacturing sector.

Unfortunately, the textile industry of Nigeria has undergone a decline in the 90s after many companies came out of the country due to the impacts of smuggling, harsh economy and unfavorable government policies, among others.

Between 1985 and 1990, the Nigerian textile industry had been reduced to 250 companies with 250,000 employees. Currently, the number of employees in the textile sector has fallen to an abysmal 10,000.

It is against the background of this reproven and undesirable state of the textile industry of the nation, which has the ability to generate over two million jobs and attract $ 6 billion in foreign currency, which the project elaborates the establishment of the cotton, textile government and the development of clothing by the federal government.

It is our belief that, when fully operational, the Board of Directors, to a large extent, revitalizes the real sector of the economy of the nation and, by extension, will improve the well -being of people and brake the insecurity that holds citizenship.