Federal Government has reinstated its commitment towards revitalizing the Cotton, Garment and Textile industry aimed to create more employment and also grow the Nigerian economy.
The Minister of Agricultural and Rural Development, Alhaji Mohammed Sabo Nanono disclosed this when he received in audience the Nigeria – Vietnam Chambers of Commerce and Industry (NVCI) delegation led by the Chairman, Mr. Oye Akinsemoyin, in his office in Abuja.
Alhaji Sabo Nanono stressed the need to revitalize the textile industry “textile and garment is one of the three pillars that is very crucial to the development of this country and would reduce the issue of unemployment substantially because of its nature, the textile ,garment and cotton are the core of the Agro Allied industry’’.
Nanono further stated that, ‘’textile industry is capable of employing hundreds of thousands of people across the country especially in Kano, Kaduna, Aba, Lagos and some other key areas. In Nigeria from 1985 to 86, our textile industry were in good shape, during this period, Nigerian’s textile materials was one the best in Africa and beyond Until importation of textile into the country between 1987 to 1990 which has led us to the state we are now “,he added.
The Minister pointed out that ‘’the government is ready to create enabling environment that will attract foreign investors in the textile industry’’.
In his Presentation, the President, Nigeria –Vietnam of Commerce and Industry (NVCI), Mr. Oye Akinsemoyin stressed that ‘’there is need for the Federal Government to focus on revitalizing in the industry line with the President Muhammad Buhari’s policy of economic diversification ’’.
Akinsemoyin highlighted the success story of Vietnam textile industry stating that the country’s textile industry had grown over the years from the 60s and presently has churned out over 6,000 enterprises.
According to him, it has employed over 2.5 million people of Vietnams and the annual growth rate is about 9.8 percent, also that is has been estimated that in 2025, the sector would be attaining $55billion on export from garment and textile, adding that Nigeria could attain a similar feat if its industry is revitalized.