The Federal Government of Nigeria is aiming to revive the country’s textile and clothing industry by reducing dumping of sub-standard goods into the country including textile and garment, by boosting cotton production, by ensuring uninterrupted power supply of 18 hours to 10 industrial cities and through the Cotton, Textile and Garment (CTG) Revival Fund Scheme, said Mr. Olusegun Aganga, the Minister of Trade and Investment.
Speaking at the workshop on the mid-term evaluation of Nigeria’s CTG industry in Abuja, the Minister said that through Standards Organization of Nigeria (SON) the Government is planning to reduce the dumping of sub-standard textile and garment goods into the country as part of its revival scheme.
The Nigerian Government also aims at ensuring 18 hours of uninterrupted power supply to 10 industrial cities in the country by first quarter of the fiscal year 2013-14 to increase the production of the textile and apparels, he added.
The Minister further said that as part of reviving the entire value chain of the country’s textile industry, Nigerian Government plans to increase the cotton production in the country.
Talking about the CTG Revival Fund Scheme, he said the scheme of N100 billion has provided a unique source of incentive based long-term fund for the financing and refinancing of capital investments.
Through the scheme, several hitherto moribund textile mills have been reopened and about 8,070 jobs have been saved, while creating 5000 new jobs, he added.
He said the country’s textile and apparel sector has a great potential to grow because of the availability of natural cotton, large market size and decades of experience in the sector.
He urged the Nigerian Government and the manufacturers of textile and garment sector to work together to ensure the revival of the sector
