Nigeria will accelerate the revitalization of cotton textile industry
According to Nigeria’s “Slammer” report, a cotton, textile and garment (CTG) policy implementation review and development meeting was recently held at the Nigerian Ministry of Industry, Trade and Investment. Ayesha Abubakar, Minister of State for the Ministry of Industry, Trade and Investment Attend and speak at meetings. She regretfully pointed out that Nigeria’s cotton spinning industry reached its peak in 1980, when there were 175 cotton spinning processing factories. With changes in the economic environment, the industry gradually declined. Currently, only 30 companies remain and 145 companies have perished. The current national employment and economic situation has forced the industry to revitalize and develop.
In order to revitalize the cotton spinning industry, the Nigerian Federal Executive Council approved the CTG revitalization policy on December 17, 2014, and then established the CTG Executive Committee to implement and promote relevant work. The policy was officially implemented on January 20, 2015. In the CTG revitalization policy plan, the government invested 255 billion naira (approximately US$1.28 billion) from 2015 to 2020 to reposition the industry as the second largest labor-intensive industry to solve employment problems. The employment level in the industry increased from 50,000 in 2015 to The number of people increased to 100,000 in 2017, and the number of indirect employment outside the industry increased from 650,000 to 1.3 million. If the industry can be revitalized, Nigerian citizens will witness a reduction in textile and clothing imports, saving Nigeria nearly $2 billion in foreign exchange resources.
The chairman of the CTG Committee said that problems faced in the implementation of CTG policies include financial constraints, smuggling impacts, power supply shortages, lack of industry standardization and low cotton production. Regarding the smuggling issue, the Nigerian government is taking coercive measures and seeking support from neighboring governments through diplomatic channels in combating cotton textile smuggling, striving to reduce smuggling cases by 15% within the year.
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