NEWS

FEDERAL GOVERNMENT TARGETS 1.4 MILLION JOBS ANNUALLY FROM SOON TO BE REVAMPED COTTON/TEXTILE INDUSTRY 

The Federal Government in collaboration with the International Cotton Advisory Committee, has kickstarted the resuscitation of Nigeria’s cotton industry.

The target is to create over 1.4 million jobs annually in the cotton/textile sector, while the focus is to develop key components of the cotton value chain comprising farming, weaving, ginning and linking of cotton, all in line with the industrialization drive of the President Bola Ahmed Tinubu administration.

This was the outcome of a meeting held on Tuesday between Vice President Kashim Shettima and a delegation from the ICAC led by its Executive Director, Mr Eric Trachtenberg, at the Presidential Villa, Abuja.

Speaking after remarks from the ICAC delegation and other participants at the meeting, Senator Shettima urged stakeholders to come up with a roadmap for the revitalization of the cotton/textile sector in Nigeria, noting that “it is time to work more and talk less”.

The Vice President assured that the Tinubu administration will make conscious efforts to ensure the country harnesses opportunities in the cotton value chain, including ensuring that Nigeria regains its ICAC membership.

He thanked the delegation for the visit, just as he acknowledged ICAC’s commitment to the development of the sector in Africa, noting that “your diverse backgrounds in ICAC gives a nuance understanding of the complexities and opportunities in the cotton value chain.”

In his remarks, Mr Trechtenberg said he was pleased with the level of interest and commitment shown by the leadership of the country and other stakeholders in reviving the industry in Nigeria.

Citing examples in China, India, Pakistan and other parts of the world, the ICAC Executive Director said the potentials in the cotton value chain was huge and has proven to be transformative.

He noted that cotton and textile offer competitive advantage, economic transformation and is a very competitive product that can be sold, both domestically and internationally, with probability to generate high quality jobs for now and in the future.

He said the ICAC would support Nigeria’s cotton value chain revamp by offering expert advice in improving productivity and boosting the value chain and investment facilitation.

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