In a renewed commitment to boost economic growth and reduce import dependency, the Federal Government has announced ambitious plans to
rejuvenate Nigeria's textile industry. Speaking at a town hall meeting in Abuja with stakeholders from the cotton value chain, the Minister of Industry, Trade, and Investment, Doris Nkiruka Uzoka-Anite, outlined a comprehensive strategy aimed at empowering the cotton, textile, and garment sectors.
The revitalization plan is expected to create approximately 200,000 jobs over the next two years and aims to bolster the domestic fashion industry's demand for locally produced textiles and garments. This initiative is part of a broader effort to strengthen the country’s manufacturing capacity and enhance its export potential.
Minister Uzoka-Anite detailed the government’s approach, which includes attracting new investments, upgrading existing textile facilities, introducing cutting-edge technologies, and enhancing the overall quality of production to make Nigerian textiles competitive on the global stage.
Sheriff Balogun, President of the Federation of Agricultural Commodity of Nigeria (FACAN), emphasized the urgency of adopting a cooperative approach to swiftly tackle the challenges facing the sector. He highlighted the critical economic issues such as the foreign exchange crisis, low purchasing power, and high unemployment rates affecting the country.
Balogun advocated for a shift towards value addition to raw materials, which he believes could transform the current economic challenges into lucrative opportunities. He also called for support from major industrial players, like Dangote, to facilitate access to affordable diesel, which is essential for reducing production costs and boosting operational efficiency in the textile industry.
The government's pledge to revamp the textile sector is seen as a strategic move to stimulate economic development, increase job creation, and reduce the reliance on imported textiles.
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