The National Economic Council (NEC) has approved the establishment of a Cotton, Textile and Garment Development Board.NEC, chaired by Vice President Kashim Shettima, with Governors of the 36 states of the federation, the Governor of the Central Bank of Nigeria (CBN), the Minister of Finance, and other co-opted government officials as members, approved the proposal for the establishment of the Cotton, Textile and Garment Development Board.
As the regulatory body for the cotton, textile and garment sector of Nigeria, the Board will have governors representing the six geo-political zones, with Ministers of Agriculture and Food Security, Budget and Economic Planning, and Industry, Trade and Investment as members.
The board, when set up, will be domiciled in the Presidency, private sector-driven, with representation of the relevant public sector stakeholders, and funded from the Textile Import Levy being collected by the Nigeria Customs Service (NCS).
On the establishment of a Cotton, Textile, and Garment Development Board, the Vice President said it aligns with the economic revival agenda of President Bola Ahmed Tinubu, recalling that the initiative “is a call to resuscitate a sector that once clothed the people and powered the nation’s economy. Nigeria is a nation where cotton can thrive in 34 states.
Yet our production level remains a fraction of our potential. We currently produce only 13,000 metric tons, while we continue to import textiles worth hundreds of millions of dollars. This is not just an economic imbalance. It is an invitation to act,” he added.
Cotton, Textile, and Garment Development Board, according to him, will be funded by the textile import levy and will have a presence in all geopolitical zones in the country.
“Our goal is not just regulation. It is a revival. This is our opportunity to re-industrialize, to empower communities, and to restore pride in local production,” he explained.