Nigerian cotton subsector received N100bn for cotton production through GSC from BoI

Cotton production has been a driving force for economic development in Nigeria. The Federal Ministry of Agriculture and Rural Development announced that the cotton subsector had received N100bn from the Bank of Industry through the Growth Enhancement Support scheme on the Cotton, Textile and Garments Funds.

Out of the N100bn, N75bn had been approved and committed to the CTG businesses across the country. The bank has supported cotton farmers, ginners and textile mills by funding their activities, adding that about 38 companies were fully repositioned through the GES scheme.

It added, four improved varieties of cotton seeds, which included Samcot 8, Samcot 9, Samcot 10 and Samcot 11, were promoted in 2012; while in 2014, six varieties of cotton seeds were developed by the Institute for Agricultural Research, Ahmadu Bello University, Zaria.

It outlined the six varieties as Samcot 8 and 13 for the North-East, Samcot 9 and 12 for the North-West, Samcot 10 for the North Central, Samcot 11 for the South-West.

The government to further boost production in 2014, about 2,385.38 metric tonnes of certified seeds were distributed to 110,370 farmers in the North-East, North-West, and North Central under the GES scheme.