Nigeria Moves to Revive Textile Sector With Development Board

This was disclosed by the Governor of Imo State, Mr Hope Uzodinma, while briefing State House Correspondents at the end of the 149th NEC meeting chaired by the Vice-President, Mr Kashim Shettima, on Thursday at Presidential Villa, Abuja.

He explained that in order to make the board function effectively, the council approved a proposal for Public-Private Partnership (PPP).

Mr Uzodinma stated that the chairman of the board would be selected from the private sector, adding that the body would be funded from import levies on textiles.

“The National Economic Council, among others things, received a representation from the members and leadership of Cotton, Textile and Garment Development Forum.

“These are private sector operatives who are into the cotton business, garment and textiles and the presentation highlighted their proposal on how to revitalise the cotton industry in Nigeria.

“The council endorsed the presentation and approved the establishment of a National and regional Offices for the board in each of the six geopolitical zones for proper coordination,” said Mr Uzodinma.

On his part, Governor Douye Diri of Bayelsa said the council also received proposal from the Minister of Livestock Development on acceleration strategy for the livestock industry.

He said the presentation was on on a plan to transformation the livestock industry between 2025 and 2030, stating that the strategy was built on the national livestock growth acceleration plan, which is expected to transform the sector to create jobs, export products and serve as an engine room for internally generated revenue.

“The projection is that the strategy will generate between $74 billion down and $90 billion in that sector by the year 2035.

“It will be a direct partnership with the state governors, the private sector and foreign investors under a very sound federal regulatory umbrella,” said Mr Diri.

He added that the investment would be prioritised into five key pillars between 2025 and 2026, saying the pillars are: animal health and zones control, feed and further development, water resources management, statistics and information and livestock value chain development.