The Hon.Minister Of Industry, Trade and Investment, Dr Doris Uzoka-Anite has observed that Cotton, Textile and Garment sector has the capacity to transform Nigeria’s rural economy and revive the textile and garment industries by creating millions of jobs and improve internal revenue across the three tiers of government among other benefits.
To maximise these benefits,the Minister revealed that government has resolved to review the National Policy on CTG which has so far been implemented for seven years
Dr Uzoka-Anite said the review will accommodate morden techniques,inputs and update the National Policy to attain to global best practices.
Speaking recently at the Cotton, Textile and Garment (CTG) Stakeholders’ Meeting, the Minister said the sector,holds the promise of reducing billions of Naira Import bill incurred annually on Textile and apparel, safeguard and earn foreign exchange as well as accelerate industrial development by making Nigeria a regional hub for Textile and apparel.
The Minister explained that as a demonstration of government’s commitment to the sector,Cotton, Textile and Garment concerns are captured in the economic diversification policy of government which is embedded in the Nigerian Industrial Revolution Plan(NIRP)
“In a bid to support the sector, government has re-categorized the gas pricing and supply to the CTG sector in other to reduce cost of production from $7.62mscf to $3.36mscf”,the Minister disclosed.
Arise India Inc made a presentation during the meeting and signalled the intention to enter the Nigeria Cotton industry with multi million dollars investment.
Also in attendance at the stakeholders meeting were key industry players, Associations leaders and relevant MDA representatives.
