National CTG policy launched by FG foresee export earnings of USD3bn annually

The Federal Government launched the National Cotton, Textile and Garment Policy in Abuja, the Minister of Industry, Trade and investment, Mr. Olusegun Aganga speaking during the launch of National CTG stated that the policy is a major component of the Nigeria Industrial Revolution Plan (NIRP) aimed at reinstating the textile sub-sector.

Through this National CTG policy, the Government is anticipating $3 billion export earnings annually. Moreover, with commencement of the policy the seed cotton production is also expected to increase from the 200,000 metric tonnes in 2013 to close to 500,000 metric tonnes by the end of 2015.

In order to demonstrate the commitment of government towards the implementation of the textile policy, all military and paramilitary agencies and government schools would be compelled purchase only Nigeria made textiles and garments.

Aganga noted that government came up with the comprehensive document in order to bring the textile sub-sector to its past glory when it used to be the second largest employer of labour next to government.

With the commencement of the policy, the Minister noted that the federal government is targeting a rise in direct employment in the industry from the current level of 24,000 people to 100,000 people by 2017.

There is also a projection for an increase in the indirect job from 650, 000 today to 1.3 million by year 2017.

The occasion also witnessed the inauguration of an Implementation Committee to push for the realization of the items in the CTG document as well as the signing of a Memorandum of Understanding with the Vlisco Group to invest across the textile and garment value chain.